CAB129-37 — Page 626

APPENDIX III

ESTIMATE OF OPERATIONS FOR

FOUR YEARS

1st APRIL 1950 to 31st MARCH 1954

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318

RECEIPTS

EXPENDITURE

1950/51

£ 987,100

£1,717,100

1951/52

1,732,600

2,037,500

1952/53

2,805,000

2,703,000

1953/54

4,352,500

3,582,600

figur

These figures are not directly comparable owing to tho overlap of the crop and financial years. Moreover, as explained in the memorandum, the East African Management has assumed crop figures (at 750 lbs. per acre for ground- nuts and sunflowers) and current prices (£55 o. & f. for groundnuts and £35 for sunflowers) which are unlikely to be realised over the period. Rather than revise the revenue figures by a further series of hypothetical calculations, the Corporation proposes that the risk of deficiencies on agricultural operations to 31st March, 1954, should be accepted to the extent of £3,000,000.

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