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 20

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LOWE, BINGHAM & MATTHEWS, HONG KONG

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to Treasury on 15th November, 1950, for account of

"Deposits - Abandoned Property", in settlement of the

cost of rice received from Custodian of Property during

the period 1st May, 1946, to 31st March, 1947, shown as

being purchased from Custodian in Schedule IV to our

Modified Report. This amount is still shown as outstand-

ing in the records of the Custodian of Property.

In view of these discrepancies we are unable

to express an opinion as to whether or not full provi-

sion has been made for liability, if any, to the Custo-

dian of Property as at 31st March, 1951, and we recommend

that action be taken to have this matter rectified, either

in the Custodian's records or at Supplies Branch, which-

ever may be necessary after a decision has been made by

the Financial Secretary.

Share of Vote Head Expenditure - $894.537.82

This expenditure has been budgeted for on the

basis of the direct salaries and high cost of living

allowances paid to the staffs of the various sections

of the Supplies Branch to which have been added an oncost

to cover overheads. It would appear that this charge

covers the cost of some departmental activities which are

of a Government administrative nature but not connected

with the trading activities of Supplies Branch.

ASSETS

Hongkong and Shanghai Banking Corporation

Japan Trade Accounts - $112.706.356.98

We have seen certificates from the Bank dated

18th July, 1951, confirming the balances on these accounts.

Sundry Debtors and Debit Balances - $3.279.524.81

We have verified these balances shown as out-

standing as at 31st March, 1951.

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