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 58

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6.

This left the difference on US$132,000 to be

met, or approximately HK$217,800. Scott and English

Limited finally agreed to pay this in instalments between

August and December, 1950.

7.

Two concessions were made to the Company :-

(i)

Government took no exchange profit on the

US$132,000 which was directly settled.

(11) Government's 41% commission was reduced

to 1% (the rate ruling prior to revaluation) on certain

imports of woollen piece goods by Scott and English after

revaluation against their obligation to purchase woollen

piece goods up to 80% of the value of the iron ore shipped

against the contract mentioned above.