CO129-605-1 Annual Accounts- 1946-7 9-9-1948 - 14-3-1949 — Page 20

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and Liabilities at face value, not having been re-valued

at the market value at the 31st of March 1947, as it is understood that they are held by Government as custodian, and any dividends accruing there from are paid direct to the

companies concerned. These investments, moreover, include one of £30,000 ( 480,000) in Imperial Japanese Government 6 Sterling Bonds 1924, deposited by Mitsubishi Marine and

Fire Insurance Company which should, apparently, have been held by the Custodian of Enemy Property.

23.

With reference to the asset "Investments, etc.

Miscellaneous Funds, Sundry Hong Kong Government 3% Loan,

-

1940 * 5,559,000*, the Director of Audit reports that the bonds supporting this item were, apparently, destroyed prior

to the capitulation of the Colony in 1941. It is understood,

however, that the figure of 5,559,000 represents the

initial investment by Government in this Loan, reduced by

the value of Bonds redeemed in 1941, but the figure is not

susceptible to audit verification. He adds, however, that on the available information, there appear to be no grounds

for regarding the figure as incorrect.

24. Included in the asset "Investments, etc. -

Miscellaneous Funds, Supreme Court - Current Accaunt and

Fixed Deposits $ 2,940,160.80*

are Fixed Deposits totalling

$1,820,012.84, the certificates in respect of which had not beer

seen by the Director of Audit at the date of his Report.

25.

With reference to the items "Loans to Local Bodies

Hong Kong University

Fisheries Co-operative ₫ 250,000:

$480,000TM, in the Statement of Assets and Liabilities, the

Director of Audit is in communication with Government regarding the question of charging these Loans to voted expenditure, in accordance with paragraph 4 of the Secretary of State's

Circular Despatch of the 25th of November 1937.

26.

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