HONG KONG
ANNUAL DEPARTMENTAL REPORT
BY THE
CUSTODIAN OF ENEMY PROPERTY
H. HEYS, O.B.E., F.C.A.
FOR THE
FINANCIAL YEAR 1962-63
PRINTED AND PublishED BY JACK RANYARD LEE, ACTING GOVERNMENT PRINTER
AT THE GOVERNMENT PRESS, 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).
JAPANESE LEASEHOLD PROPERTY
GERMAN ENEMY PROPERTY
ASSETS AND LIABILITIES.
CONTENTS
Paragraphs
1
2
3
4
MANAGEMENT OF THE DEPARTMENT
•
APPENDICES
I. Japanese Leasehold Property and German Enemy Property
Receipts and Payments Account.
II. Balance Sheet.
III. German Enemy Property Schedule of Shares held by the
Custodian of Enemy Property.
iii
*
THIS report covers the accounts and activities of the department from 1st April, 1962 to 31st March, 1963.
A Statement of Receipts and Payments for the year is attached as Appendix I.
JAPANESE LEASEHOLD PROPERTY
1. Control of this Property is vested in the Administrator of Japanese Property, but the arrangement whereby the Custodian exercises management continued.
The only remaining property is No. 3-4, Minden Row, which is still occupied by the Army. A new lease, at a rental increased from $30,000 to $65,600 per annum with retrospective effect from 1st April, 1961, was arranged between the Administrator of Japanese Property and the Army. Arrears of rent amounting to $71,200 collected by the Adminis- trator of Japanese Property are included in the Statement of Receipts and Payments at Appendix I.
GERMAN ENEMY PROPERTY
2. At 31st March, 1963 the German Enemy Property accounts were:
Estate of Herm Witte deceased. Proceeds of sales of shares
and dividends received, less Custodian Fees charged Unclaimed balances relating to various companies liquidated under the Alien Enemies (Winding up) Ordinance, 1914, less Custodian Fees charged ...
$25,530.17
33,419.51
$58,949.68
3. The Appendix II.
ASSETS AND LIABILITIES
Balance Sheet as at 31st March, 1963 appears at
MANAGEMENT OF THE DEPARTMENT
4. Custodian fees collected during the year amounted to $4,393.99, including $2,848.00 fees on the arrears of rent. Expenditure during the year was provided for under the Treasury vote.
H. HEYS,
10th May, 1963.
1
Custodian of Enemy Property.
3
APPENDIX I
CUSTODIAN OF ENEMY PROPERTY
RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31ST MARCH, 1963
JAPANESE LEASEHOLD PROPERTY
RECEIPTS
PAYMENTS
Rents of Property (including arrears paid direct
to the Administrator) .......
$101,200.00
Expenses in connexion with Property
Custodian Fees charged on rents...
Administrator of Japanese Property
$ 1,279.80
4,048.00
94,752.00
Balance due to Administrator of Japanese
Property, carried to Balance Sheet
•
1,120.20
$101,200.00
$101,200.00
Dividends on holding of shares, estate of Herm
Witte Deceased...
GERMAN ENEMY PROPERTY
$8,649.46
Custodian Fees charged on receipts
$8,649.46
Balance at 31st March 1963, carried to Balance
Sheet
...
$ 345.99
8,303.47
$8,649.46
4
APPENDIX II
CUSTODIAN OF ENEMY PROPERTY
BALANCE SHEET AS AT 31ST MARCH, 1963
LIABILITIES
ADMINISTRATOR OF JAPANESE PROPERTY:
Balance at 1.4.62
Add Balance on Receipts and Payments Account for year ended 31.3.1963
...
GERMAN ENEMY PROPERTY:
$ 9,128.24
1,120.20 $10,248.44
Balance at 1.4.62
$50,646.21
Add Balance on Receipts and Payments Account for year ended 31.3.1963
8,303.47
58,949.68
Hong Kong, 10th May, 1963.
$69,198.12
ASSETS
Cash at Bank
***
$68,938.03
Treasury
Deposits German Enemy Property.
260.09
H. HEYS,
Custodian of Enemy Property.
$69,198.12
APPENDIX III
GERMAN ENEMY PROPERTY
SCHEDULE OF SHARES HELD BY THE CUSTODIAN OF ENEMY PROPERTY
AS AT 31ST MARCH, 1963
No. of shares
The Guardian Assurance Co. Ltd.
286
5
Remarks
Shares issued in exchange of 220 shares in the Union Insu- rance Society of Canton, Ltd. held in respect of the estate of Herm Witte deceased.