CO129-629-4 Commerce and Industry Department- supplies branch. Includes a statement of accounts for May 1946-March 1950-... 1-11-1951 - 31-1-1952 — Page 17

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LOWE, BINGHAM & MATTHEWS, HONG KONG

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this balance at 31st March, 1951, in Sterling, at bank

remittance rate, would have amounted to $100,514,102.58

(excluding bank charges) and, accordingly, the above

provision was set up to provide for a loss on exchange

at that date.

16

Sundry Creditors and Deposits Received - $1.689.823.59

So far as we are able to ascertain provision

has been made for all known liabilities as at 31st March,

1951, with the exception that Supplies Branch have been

unable to obtain confirmation from the Custodian of

Property of an amount of $107,906.20 shown as due to him

in respect of the period 1946/47.

This liability to the Custodian was set up in

March, 1947, in respect of a quantity of Charcoal and

Firewood supplied by the Custodian during the British

Military Administration period.

We endeavoured to obtain confirmation of this

debt from the Custodian and were informed that according

to his records the sum of $475,797.50 was due him by

Fuel (Coal and Firewood) Section, and it would appear,

though it is impossible to ascertain with certainty

because of the absence of detailed information at Sup-

plies Branch, that the amount of $107,906,20 is part of

the figure $475,797.50. Further enquiry elicited the

information that the following additional sums were due

by Supplies Branch, according to the Custodian's records

at 31st March, 1951 :

General Account

Dry Goods

Industry Section

Marketing Section

Price Control

Relief Section

Rice Section

$

473,642.30 59,258.49

179.30

1,160,319.63

742.50

1,978.50

875.015.27

2,571,135.99