Registrar-Generals-Department-Annual-report-1971-1972 — Page 11

every year many businesses which fail simply close down without ever becoming the subject of bankruptcy or liquidation proceedings. The affairs of The Canton Trust and Commercial Bank, Limited and the Ming Tak Bank continued to occupy a great deal of the time and energies of officers in the Official Receiver's Office.

12. In 1966-67 the Official Receiver as Trustee of the Ming Tak Bank completed with the help of a Government loan three multi- storey buildings which had been under construction when the Bank failed. Owing to the adverse factors prevailing at that time there was little immediate demand for the units in these buildings even at reduced prices. Conditions in the property market during the year under review, however, enabled the Trustee to sell ten flats and one valuable property at Austin Road, which fetched $1.12m. Out of the income received during the year, another $2.6m. was repaid to Government. All of the unsold properties have been let, and at end- March 1972 total rents being received amounted to $77,000 a month as compared with $70,000 at end-March 1971, the increase being due to the re-letting of properties at enhanced rents.

13. Most of the properties forming part of the estate of The Canton Trust and Commercial Bank, Limited liquidation have now been realized, and accordingly the sale prices of properties in this case fell to $190,000 from over $2m. in 1970-71. Collection of the book debts in this liquidation also decreased, although a total of $7.73m. was collected compared with $10.91m, for the previous year. An analysis of the 930 debts totalling $55.69m. outstanding at the end of the year is included in paragraph 135. During the year funds accumulated to a level sufficient to enable the Liquidator to pay a third dividend of 15% to the unsecured creditors, who have now received dividends totalling 50% of their claims.

Births, Marriages and Deaths

14. The number of births registered in 1971 continued the down- ward trend from the peak of 115,263 in 1963 and was in fact at 76,818 the lowest total since 1953. For the eleventh successive year the birth rate fell, the 1971 rate of 18.99 per 1,000 of population being 0.66 below the figure for 1970. As will be seen from the com- parative rates given in paragraph 173, the Hong Kong rate is well below the estimates of 38 for Asia and 34 for the World, 1,865 births were post-registered more than one year after birth, and 305 entries made in the Adopted Children Register.

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