Estimates-1949 — Page 5

GENERAL REVENUE ACCOUNT:-

Balance on 1st May, 1946 Deduct Deficit during 1946/47 Balance at 31st March, 1947

$ 3,970,269.63

3,482,834.74

487,434.89

$154,169,520.12

Miscellaneous Funds:-

China Provident Loan & Mortgage Co.,

Ltd.-Fixed Deposit

Education Scholarships-

Hong Kong Government Loans Fixed Deposit

4% Conversion Loan Sinking Fund-

Sterling Investments (£189,480-7-3)

Banking & Insurance Companies-

Sterling Investments (£5,057,500)

Supreme Court-Current a/c & Fixed

Grant Schools Provident Fund-

Deposits

Sterling Investments (£6,167-9-4) Sundry-Hong Kong Government

3% Loan, 1940 Fixed Deposit

100,000.00

54,000.00 3,000.00

57,000.00

3,031,685.80

80,920,000.00

2,940,160.80

98.679.47

5,559,000.00 1,689,000.00

7,248,000.00

$154,169,520.12

NOTES: (1) Advances totalling £3,250,000 were received from the British Government up to the 31st March, 1947. Of these, £750,000 appears as a liability under Deposits. The balance of £2,500,000 advanced before the 1st May, 1946, represents a contingent liability since it was treated by the London Accounts Office as a free grant and taken to Revenue. The final incidence has not yet been decided.

(2) Certain investments, in respect of various Funds, which existed in 1941 were recovered intact after the liberation of the Colony. These, together

with the corresponding liability to such Funds, have been incorporated in this Statement.

(3)

The 1941 Security Funds covering the Government Notes in issue were appropriated by the Japanese. These have now been restored, as a charge against the General Revenue Balance, to the extent of approximately 70% of the full amounts recorded as being in circulation at the end of 1941. All issues since the liberation have been fully covered.

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