Estimates-1923 — Page 98

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Appendix I.

CALCULATION OF DEFENCE CONTRIBUTION FOR THE YEAR 1923.

Estimated Revenue,

DEDUCT :—

CLASS I.

Opium Monopoly,

$

670,035 (1)

CLASS II.

Kowloon-Canton Railway,..................

694,000 (2)

CLASS IV.

Condemned Stores,

Widows' and Orphans' Pension Contributions,..

2,600 (3) 87,000 (4)

CLASS V.

Land Sales,

Interest ou 6% War Loan ($3,000,000),

Sinking Fund on above,

Revenue assessable to Defence Contributiou,

Add estimated arrears on account of 1922 Contribution,

Total...

(1) For details see Statement on next page. (2) C.O. Despatch No. 250 of 19th August, 1911:-

Gross Receipts,

Less Working Expenses including $465,007 under Special Expenditure for

Construction and Locomotive, Carriage, and Wagon Expenses, Interest @31% on Inscribed Stock Issue of 1906 (£1,143,933)=£40,038, Sinking Fund @ 1% on 3 % Inscribed Stock Issue of 1906 (£1,143,933)

=£11,140,.

(3) C.O. Despatch No. 129 of 29th April, 1922.

(4) Ordinance No. 15 of 1908, s. 5.

(5) Ordinance No. 1 of 1901, s. 2.

Deficit,

18,567,270

600,000 (5) 180,000

200,000 (6)

2,433,635

16,133,635

20% of $16,133,635=

3,226,727

533,674 (7)

3,760,401

.$ 694,000

$ 1,022,775

343,183

98,057

1,444,015

$ 750,015

(6) Ordinance No. 1 of 1917.

(7) Estimated arrears on account of 1922 Military Contribution for 1923 Estimates :—

Revised Estimate of Revenue, 1922,

$20,718,720

Deduct :-

CLASS I.

Opium Monopoly,

.$ 376,160

CLASS II.

Kowloon-Canton Railway,

704,000

CLASS IV.

Condemned Stores,....

.....

Widows' and Orphans' Pensions Contributions,

18,000 84,730

CLASS V.

Land Sales,

Interest on 6% War Loan ($3,000,000),

2,500,000 180,000

Sinking Fund on above,

200,000

4,062,890

Revised Estimate of Revenue 1922 assessable to Military Contribution, Less Estimate of Revenue 1922 assessable to Military Contribution,

16,655,830

13,987,460

2,668,370

20% on $2,668,370,

533,674