Estimates-1937 — Page 112

112

Appendix III.

CALCULATION OF DEFENCE CONTRIBUTION FOR THE YEAR 1937.

STATEMENT OF ESTIMATED REVENUE OF THE COLONY FOR THE YEAR 1937 ON WHICH THE MILITARY CONTRIBUTION IS PAYABLE.

Estimated Revenue

DEDUCT:-

Opium Monopoly

Water Service

Contribution for Anti Piracy Escorts

Maintenance of Gap Rock Lighthouse, Contribution from Chinese

Government

Widows' and Orphans' Pensions Contribution.

Use of Motor Vans

Wireless Telegraphy Services.....

Kowloon-Canton Railway

Condemned Stores, &c.

Land Sales.

Interest on 4% Conversion Loan

Sinking Fund on above.

Interest on 33% Dollar Loan

Redemption of Bonds (34% Dollar Loan)

$28,760,250

250,000 (1)

6,500 (2)

100,000 (2)

750 (2)

27,000 (2)

406,600 (3) 713,500 (2) 1,225,150 (4)

15,000 (5)

206,000 (6)

193,520 (7)

166,911 (7)

450,800 (8)

560,000 (8)

4,321,731

24,438,519

ADD:-

Net Receipts on Productive Undertakings :-

OPIUM MONOPOLY

Gross Receipts

Less Working Expenses

250,000 253,437

Net Profits..

Nil.

WATER SERVICE

Gross Receipts

6,500

Less Working Expenses

18,000

Net Profits....

Nil.

USE OF MOTOR VANS

Gross Receipts

27,000

Less Working Expenses

28,222

Net Proûts.

Nil.

WIRELESS TELEGRAPHY SERVICES

Gross Receipts

713,500

Less Working Expenses

"

Capital Exp. to 1936..

for 1937 $54,900 @ 4%

520,046 49,449 2,196

""

"

"

571,691

Net Profits...

141,809

KOWLOON-CANTON RAILWAY

Gross Receipts.

Less Working Expenses

1,225,150 766,300

Net Profits...

Total.......

458,850

$25,039,178

Revenue assessable for Defence Contribution Twenty per cent of Add Estimated Underpayment on account of 1936 Contribution

$25,039,178=

5,007,835 (9) 371,825

$5,379,660

(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.

Ordinance No. 15 of 1933.

(8) Ordinance No. 11 of 1934.

(9) Estimated Overpayment on account of 1935 Military Contribution for 1936 Estimates:

for details see page 113.