Registrar-Generals-Department-Annual-report-1966-1967 — Page 12

population the shortage of land has become more and more acute, the effect of the procedure was that a large balance had been built up to the credit of the armed forces. As part of the general agreement relating to the defence contribution and future provision of land, this balance amounting to $10,290,961 has been expunged.

Companies, Trade Marks and Patents

12. If evidence were required of the vigour, enterprise and faith of Hong Kong businessmen in a difficult year, this is provided by the number of new companies incorporated, the total advancing by 142 over the previous year's to a new record figure of 1,428. It is true that the aggregate of all capitals was at $580m. $126m. less than in 1965-66, but experience shows that local companies increase their capitals quickly when required, and the smaller initial capitals may merely indicate a disinclination to pay more capital registration fees than are necessary to begin with. The most notable changes in numbers accord- ing to business are listed in paragraph 68, and include increases of 57 to 384 in the number of import/export companies, and of 32 to 44 in the rapidly developing wig manufacturing business. On the other hand, there has, not unnaturally considering the foregoing report on the Property Market, been a fall in the number of land investment companies, these being down 24 to 86 and a mere fifth or so of the totals in 1962-63, 1963-64, and 1964-65 when the building boom was in full swing. 219 companies were dissolved including 136 struck off the Register under Section 291 of the Companies Ordinance, leaving 10,970 companies on the Register at the end of the year. The number of companies incorporated outside the Colony which have established a place of business here rose by 25 to 592, including 143 companies incorporated in the United States, 100 in the United Kingdom, and 59 in Japan. With the vast amount of trade conducted in and from Hong Kong, there is also a vast amount of insurance business done, and there are as many as 208 companies conducting the regulated classes of business, including 65 United Kingdom companies, 49 Hong Kong companies and 33 United States companies.

13. The total number of applications for registration of trade marks was 1,919, somewhat below the average of the previous four years. The United States led with 294 applications followed by Hong Kong with 251 and the United Kingdom with 191. 1,171 marks were registered and 1,715 renewed, bringing the total on the register up to 21,292. A record number of 364 patents were registered during the

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