EL
ES
34
Income is solely confined to the interest
obtained from the Hong Kong Exchange Fund which
has accumulated since 26th December, 1941,
at the rate of £450,000 per annum, but we
are informed by the Crown Agents for the Colonies
that the funds contained a large holding of 5%
Conversion which will, no doubt, be redeemed on
1st May, 1944, and that the income after reinvestment
will be decreased approximately by £100,000. A
further decrease in income of some £20,000 per
annum will be caused in the near future by the
redemption of Hong Kong notes in China, amounting
approximately to £1,000,000 in value. The
cash balance in hand on 20th July, 1943, was about
We are not, of course, able to realise
£189,000.
any part of the capital sum in the Fund to meet
current expenses and there are no other Colony
assets available for realisation.
Expenditure to which we are committed
amounts approximately to £800,000 per annum and is
itemised generally as follows:
Claims from Australian Government
for reimbursement of payment to
dependants etc. (after allowing for
amount recoverable from United Kingdom
NOT THE
:
o the envelopeg jel) and post
10,300 per mensen
CE
Pensions, payments to dependants of
officials, members of Volunteer Forces
etc. issued direct from Crown Agents'
Office to individuals mainly resident in
United Kingdom
Average
£18,000
do.
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