year, 492 more than last year's record total, although the aggregate of all capitals was down by $435m. from the record figure of $2,280m. in 1970-71 to $1,845m. The most notable changes in numbers according to business are listed in paragraph 76, and include. striking increases of 160 to 683 in land investment, of 56 to 118 in shipping, of 49 to 115 in restaurants, of 48 to 315 in financiers and capitalists, and of 45 to 180 in garment manufacturers. The businesses in which there were decreases were wig manufacturers, down 48 to 21, advertising etc., down 14 to 41, hotels, down 10 to 11, and publishers, down 10 to 25. 433 companies were dissolved, including 291 struck off the Register under section 291 of the Companies Ordinance, leaving 22,514 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 68 to 781, including 204 companies incorporated in the United States, 99 in the United Kingdom, and 82 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 226 companies con- ducting the regulated classes of business, including 68 United Kingdom companies, 62 Hong Kong companies and 33 United States companies.
10. The total number of applications for registration of trade marks was 2,596, 154 less than the record number of 2,750 in 1969-70 but nevertheless the third highest yearly total ever recorded. The United States led with 482 applications, followed by Hong Kong with 447 and Japan with 242. 1,840 marks were registered, the highest annual figure ever recorded, and 1,260 renewed, bringing the total on the register up to 26,712. 509 patents were registered during the year, the second highest number ever registered in one year. The United States was in the lead with 227, the United Kingdom, Japan, West Germany and Hong Kong following with 76, 57, 53 and 20 respectively.
Bankruptcies and Liquidations
11. During the year 15 Receiving Orders (one of which was sub- sequently rescinded), one Administration Order and 28 Winding-up Orders were made as compared with five, one and eight respectively in 1970-71. The total number of new cases was the highest since 1967-68, and the second highest since the war, but the number of bankruptcy and liquidation cases that come into the hands of the Official Receiver is no reliable index to business conditions, since
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