Estimates-1932 — Page 105

Appendix IV.

CALCULATION OF DEFENCE CONTRIBUTION FOR THE YEAR 1932.

Estimated Revenue

DEDUCT:-

•

33,991,510

CLASS J.

Opium Monopoly

723,087 (1)

CLASS II.

Kowloon-Canton Railway

1,100,000 (2)

CLASS IV.

Condemned Stores

Widows' and Orphans' Pensions Contribution..

Anti-Piracy Guards.....

15,000 (3)

428,500 (4)

120,000 (5)

CLASS V.

Land Sales

Interest on 6% Public Works (1927) Loan ($5,000,000) Sinking Fund on above

1,750,000 (6)

300,000 333,000

(7)

4,769,587

Revenue assessable to Defence Contribution

29,221,923

20% of $29,221,923=

5,844,385

Add Estimated Arrears on account of 1931 Contribution..

Total

(1) For details see Statement on next page.

(2) C. O. Despatch No. 250 of 19th August, 1911:—

Gross Receipts,.

$ 1,100,000

Less Working Expenses

$

959,025

Interest @ 31% on Inscribed Stock Issue of 1906 (£1,143,933)=£40,038, Sinking Fund @ 1% on 31 % Inscribed Stock Issue of 1906 (£1,143,933)

£11,140,.

800,760

228,800

1,988,585

$ 888,585

Deficit,..

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

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

107

522,182 (8)

6,366,567

(5) Contribution by Shipping Companies to provide payment for guards. Formal authority for exemption is being requested. (6) Ordinance No. 1 of 1901, s. 2.

(7) Ordinance No. 14 of 1927.

(8) Estimated arrears on account of 1931 Military Contribution for 1932 Estimates :—

Revised Estimate of Revenue, 1931,

DEDUCT:-

$ 31,204,368

('LASS I.

Opium Monopoly,

752,729

CLASS II.

Kowloon-Canton Railway

1,063,945

CLASS IV.

Condemned Stores,

Widows' and Orphans' Pension Contribution,.. Anti-Piracy Guards....

Land Sales,

CLASS V.

Interest on 6% Public Works (1927) Loan ($5,000,000)

Sinking Fund on above

Revised Estimate of Revenue assessable to Military Contribution,

Less Estimate of Revenue 1931 assessable to Military Contribution,

20% of $2,610,909,

16,939

419,150

120,000

2,300,000

300,000

333,000

5,305,763

25,898.605 23,287,696

2,610,909

522,182

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