CO129-550-1 Estimates 1935 14-9-1934 - 15-9-1934 — Page 280

336

112

Appendix III.

CALCULATION OF DEFENCE CONTRIBUTION FOR THE YEAR 1935.

STATEMENT OF ESTIMATED REVENUE OF THE COLONY FOR THE YEAR 1935 ON WHICH THE MILITARY CONTRIBUTION IS PAYABLE.

Estimated Revenue

DEDUCT:-

Opium Monopoly

Water Service

Government

Use of Motor Vans

Contribution for Anti Piracy Escorts

Maintenance of Gap Rock Lighthouse Contribution from Chinese

Widows' and Orphans' Pensions Contribution

Wireless Telegraphy Services...

Kowloon Canton Railway

$30,585,650

650,000 (1)

22,000 (2)

100,000 (2)

750 (2)

31,000 (2)

367,000 (3)

674,500 (2) 1,692,900 (4)

Condemned Stores &c..

Land Sales...

Suspense Account (Military Contribution)

Interest on 4% Conversion Loan

Sinking Fund on above

Interest on 31% Dollar Loan

Redemption of Bonds (31% Dollar Loan)

ADD:-

12,000 (5)

600,000 (6)

975,410 (2)

193,520 (7)

166,911 (7)

490,000 (8)

560,000 (8)

6,535,991

24,049,659

Net Receipts on Productive Undertakings :-

OPIUM MONOPOLY

Gross Receipts

Less Working Expenses...

650,000 199,682

Net Profits......

450,318

WATER SERVICE

Gross Receipts

22,000

Less Working Expenses

29,000

Net Profits..

Nil.

USE OF MOTOR VANS

Gross Receipts

Less Working Expenses

31,000 33,860

Net Profits....

Nil.

WIRELESS TELEGRAPHY SERVICES

Gross Receipts

674,500

Less Working Expenses

12

Capital Exp. to 1934

for 1935 $244,700 @ 4%..

493,316 48,143 9,788

"

"

551,247

Net Profits....

123,253

KOWLOON CANTON RAILWAY

Gross Receipts...

Less Working Expenses

1,692,900 1,024,523

Net Profits

668,377

Total.....

$25,291,607

Revenue assessable for Defence Contribution Twenty per cent of $25,291,607 = Less Estimated Overpayment on account of 1934 Contribution..

(1) For details see statement on page 114.

(2) Approved by Secretary of State.

(3) Ordinance No. 15 of 1908 s. 5.

C. O. Despatch No. 250 of 19th August, 1911.

(5) C. O. Despatch No. 129 of 29th April, 1922.

Ordinance No. 1 of 1901 s. 2.

(7) Ordinance No. 15 of 1933.

Ordinance No. 11 of 1934.

(9) Estimated Overpayment on account of 1934 Military Contribution for 1935 Estimates:

for details see page 113.

(9)

5,058,321 316,869

$4,741,452

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