HONG
KONG
PRICE: $ 1.00
ANNUAL
DEPARTMENTAL
REPORTS
1959-60
CUSTODIAN OF
ENEMY PROPERTY
HONG KONG
ANNUAL DEPARTMENTAL REPORT
BY THE
CUSTODIAN OF ENEMY PROPERTY
FOR THE
FINANCIAL YEAR 1959 - 60
PRINTED AND PUBLISHED BY W. F. C. JENNER, GOVERNMENT PRINTER
AT THE GOVERNMENT Press, JAVA ROAD, HONG KONG
EXCHANGE RATES
When dollars are quoted in this Report, they are, unless otherwise stated, Hong Kong dollars. The official rate for conversion to pound sterling is HK$16=£1 (HK$1=1s. 3d.). The official rate for conversion to U.S. dollars is HK$5.714=US$1 (based on £1=US$2.80).
ENEMY PROPERTY-Japanese .
CONTENTS
Paragraphs
1
2
3
ASSETS AND LIABILITIES
MANAGEMENT OF THE DEPARTMENT
APPENDICES.
I. Japanese Leasehold Property Realization Account
II. Balance Sheet
THIS report covers the accounts and activities of the department from 1st April, 1959 to 31st March, 1960.
ENEMY PROPERTY
JAPANESE LEASEHOLD PROPERTY
1. Control of this Property is vested in the Administrator of Japanese Property, but the arrangement whereby the Custodian exercises manage- ment continued.
The following properties were sold by the Administrator of Japanese Property during the year:
1, 3 and 3A Magazine Gap Road (Inland Lot No. 1633)
39 and 41 Macdonnell Road (Inland Lot No. 1384)
17, 19, 21, 23, 25 and 27 Conduit Road (Inland Lot No. 1548)
The only property now unsold is No. 3-4 Minden Row, which is still occupied by the Army at a rental of $2,500.00 per month.
A Statement of Receipts and Payments for the year is attached as Appendix I.
ASSETS AND LIABILITIES
2. The Balance Sheet as at 31st March, 1960 appears at Appendix II.
MANAGEMENT OF THE DEPARTMENT
3. Custodian fees collected during the year and paid to the General Revenue of the Colony amounted to $136,106.40. Expenditure during the year for salaries and allowances, etc. was provided for under the Treasury vote.
14th April, 1960.
1
H. HEYS,
Custodian of Enemy Property.
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APPENDIX I
CUSTODIAN OF ENEMY PROPERTY
JAPANESE LEASEHOLD PROPERTY REALIZATION ACCOUNT
RECEIPTS AND PAYMENTS FOR THE YEAR ENDED 31ST MARCH, 1960
Rents of Properties
Received from Administrator of Japanese
Property for custodian fees on sales
$ 72,660.00
Expenses in connexion with Properties
$ 47,323.61
Custodian Fees charged:
133,200.00
on rents
on sales
$ 2,906.40
133,200.00
136,106.40
Balance due to Administrator of Japanese
Property ...
22,429.99
$205,860.00
$205,860.00
4
↓
APPENDIX II
CUSTODIAN OF ENEMY PROPERTY
BALANCE SHEET AS AT 31ST MARCH, 1960
LIABILITIES
ASSETS
ADMINISTRATOR OF JAPANESE PROPERTY:
CASH:
Balance at 1.4.59
$41,106.20
At Bank...
Add for 1959/60 as per Receipts
and Payments account
On Deposit with the Treasury
22,429.99
63,536.19
Less net remittances to Adminis-
trator of Japanese Property in 1959/60
60,000.00
$3,536.19
$3,536.19
$3.425.85
110.34
Hong Kong, 14th April, 1960.
H. HEYS, Custodian of Enemy Property.
The above Balance Sheet and the attached Japanese Leasehold Property Realization Account have been examined in accordance with paragraph 10 of the Secretary of State's Circular Despatch (2) of 18th January 1940. I have received all the information and explanations that I have required, and Í certify, as a result of this audit, that in my opinion they are correct.
AUDIT DEPARTMENT,
Hong Kong, 21st May, 1960.
W. J. D. COOPER,
Director of Audit.
$3,536.19
:
P
HONG KONG
Code No.: 3028-60