Estimates-1938 — Page 112

114

Appendix III.

CALCULATION OF DEFENCE CONTRIBUTION FOR THE YEAR 1938.

STATEMENT OF ESTIMATED REVENUE OF THE COLONY FOR THE YEAR 1938 ON WHICH THE MILITARY CONTRIBUTION IS PAYABLE.

Estimated Revenue

DEDUCT:-

Opium Monopoly

Sand Monopoly.

Water Service

Contribution for Anti Piracy Escorts

Maintenance of Gap Rock Lighthouse, Contribution from Chinese

Government

Use of Motor Vans

Widows' and Orphans' Pensions Contribution..

$30,254,920

275,000 (1)

90,000 (2)

8,000 (2)

115,000 (2)

750 (2)

27,000 (2)

421,000 (3)

772,500 (2)

Wireless Telegraphy Services..

Kowloon-Canton Railway

Condemned Stores, &c.

1,044,900 (4)

15,000 (5)

Land Sales...........

355,000 (6)

Interest on 4% Conversion Loan

193,520 (7)

Sinking Fund on above

166,911 (7)

Interest on 31% Dollar Loan

431,200 (8)

Redemption of Bonds (34% Dollar Loan)

560,000 (8)

4,475,781

ADD:

Net Receipts on Productive Undertakings:-

25,779,139

OPIUM MONOPOLY

Gross Receipts

Less Working Expenses

275,000 254,950

Net Profits.....

20,050

SAND MONOPOLY

Gross Receipts

Less Working Expenses..

90,000 15,807

Net Profits.....

74,193

WATER SERVICE

Gross Receipts

8,000

Less Working Expenses

13,500

Net Profits......

Nil,

USE OF MOTOR VANS

Gross Receipts

Less Working Expenses

27,000 31,141

Net Proûts....

Nil.

WIRELESS TELEGRAPHY SERVICES

Gross Receipts.....

772,500

Less Working Expenses

Capital Exp. to 1937.

for 1938 $115,508 @ 4%..

673,098 51,761 4,620

11

งง

729,479

Net Profits....

43,021

KOWLOON-CANTON RAILWAY

Gross Receipts

Less Working Expenses

1,044,900 832,346

Net Profits...

Total......

212,554

$26,128,957

Revenue assessable for Defence Contribution Twenty per cent of Add Estimated Underpayment on account of 1937 Contribution

$26,128,957 =

=

5,225,791 (9) 463,787

(1) For details see statement on page 116.

$5,689,578

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

(2) Approved by Secretary of State.

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

(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 Underpayment on account of 1937 Military Contribution for 1938 Estimates:

for details see page 115.