Registrar-Generals-Department-Annual-report-1972-1973 — Page 11

anticipation of the enactment of a Securities Ordinance and the establishment of a statutory Securities Council or Commission.

13. The total number of applications for registration of trade marks was 2,790, 40 more than the record number of 2,750 in 1969-70. Hong Kong led with 381 applications, followed by Japan with 376 and the United States with 372. 1,850 marks were registered, the highest annual figure ever recorded, and 1,302 renewed, bringing the total on the register up to 28,159. 639 patents were registered during the year, the highest number ever registered in one year. The United States was in the lead with 264, the United Kingdom, West Germany, Japan and Switzerland following with 101, 82, 55 and 40 respectively.

Bankruptcies and Liquidations

14. During the year 19 Receiving Orders (one of which was sub- sequently rescinded), one Administration Order and 48 Winding-up Orders (including two against unregistered companies) were made as compared with 15, one and 28 respectively in 1971-72. The total number of new cases was the 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 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.

15. 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. During the year a number of properties forming part of the estate were sold and funds accumulated to a level sufficient to enable the Trustee to pay a first dividend of 25% to the unsecured creditors. The remaining properties continued to be let, and at 31st March 1973 total rents being received amounted to $22,700 per month as compared with $77,000 a month at the end of March 1972.

16. Most of the properties forming part of the estate of The Canton Trust and Commercial Bank, Limited, in liquidation were realized in previous years, but nevertheless there was during the year an increase in the proceeds of sales of land and buildings, which totalled $296,000

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