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 19

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LOWE. BINGHAM & MATTHEWS, HONG KONG

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Although full liability of Supplies Branch to

the Custodian per his records was not specifically set

up in Supplies Branch records it seems to us that such

was intended to be taken care of in the aforementioned

Realisation Account by a charge of $5,500,000 (included

in the debit of $29,500,000 Payment to Treasury for

account of H.M. Government, including provision for lia-

bilities under Financial Settlement). The corresponding

credit was to Treasury Suspense Account for the account

of Deposits Financial Settlement Items (see our afore-

mentioned Modified Report, Schedule I, Balance Sheet as

at 31st March, 1950, "Treasury Suspense Account, viz.

Provision made for liability under over-all financial

settlement with H.M. Government $21,750,000′′).

This notional charge of $5,500,000 was passed

in accordance with instructions contained in Memo. Ref.

T.C.394/50 of 3rd November, 1950, from Colonial Secre-

tariat to Director of Commerce & Industry (see paragraph

(2)a, Net realisation of goods received before 30th

April, 1946 – $5,500,000).

Included in the figure of $475,797.50 due by

Fuel (Coal and Firewood) Section per the Custodian's

records at 31st March, 1951, is an amount of $134,547.28

for Oil stocks requisitioned by the Department for the

period September, 1945, to May, 1946. We refer to our

aforementioned Modified Report at page 2 under the head

011 (Fuel) Cr. $148,838.93 where reference was made to

the payment to Treasury by Supplies Branch of $134,547.28,

such payment being credited by Treasury to "Deposits Ac-

count - Abandoned Property" on the instructions of the

Deputy Financial Secretary.

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Similarly, a payment of $10,654.93 was made

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