Estimates-1935 — Page 115

112

Appendix III.

CALCULATION OF DEFENCE CONTRIBUTION FOR THE YEAR 1935.

STATEMENT OF ESTIMATED REVENUE OF THE COLONY FOR THE YEAR 1935 ON WHICH THE MILITARY CONTRIBUTION IS PAYABLE.

Estimated Revenue

$30,585,650

DEDUCT :--

Opium Monopoly

650,000 (1)

Water Service

22,000 (2)

Government

Use of Motor Vans

Contribution for Anti Piracy Escorts

Maintenance of Gap Rock Lighthouse, Contribution from Chinese

Widows' and Orphans' Pensions Contribution

100,000 (2)

750 (2)

31,000 (2)

367,000 (3)

Wireless Telegraphy Services...

674,500 (2)

Kowloon Canton Railway

1,692,900 (4)

Condemned Stores &c....

12,000 (5)

Land Sales..

600,000 (6)

Suspense Account (Military Contribution)

975,410 (2)

Interest on 4% Conversion Loan

193,520 (7)

Sinking Fund on above

166,911 (7)

Interest on 31% Dollar Loan

490,000 (8)

Redemption of Bonds (34% Dollar Loan)

560,000 (8)

6,535,991

24,049,659

ADD:-

Net Receipts on Productive Undertakings:-

OPIUM MONOPOLY

Gross Receipts

Less Working Expenses

650,000 199,682

Net Profits....

450,318

WATER SERVICE

Gross Receipts

22.000

Less Working Expenses

29,000

Net Profits.....

Nil

USE OF MOTOR VANS

Gross Receipts

Less Working Expenses

31,000 33,860

Net Profts....

Nil.

WIRELESS TELEGRAPHY SERVICES

Gross Receipts....

674,500

Less Working Expenses

*

Capital Exp. to 1934

for 1935 $244,700 @ 4%.....

493,316 48,143 9,788

>"

25

1

551,247

Net Profits.

123,253

KOWLOON CANTON RAILWAY

Gross Receipts

Less Working Expenses

1,692,900 1.024,523

Net Profits

Total

668,377

$25,291,607

Revenue assessable for Defence Contribution Twenty per cent of Less Estimated Overpayment on account of 1934 Contribution...

$25,291,607

5,058,321 (9) 316.869

$4,741,452

(1) For details see statement on page 114.

(2) Approved by Secretary of State.

(3) Ordinance No. 15 of 1908 s. 5.

(4) C. O. Despatch No. 250 of 19th August, 1911.

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

(6) Ordinance No. 1 of 1901 s. 2.

(7) Ordinance No. 15 of 1933.

(8) Ordinance No. 11 of 1934.

(9) Estimated Overpayment on account of 1934 Military Contribution for 1935 Estimates:

for details see page 113.

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