HONG KONG
ANNUAL DEPARTMENTAL REPORT
BY THE
CUSTODIAN OF ENEMY PROPERTY
H. HEYS, O.B.E., F.C.A.
FOR THE
FINANCIAL YEAR 1964 - 65
PRINTED AND PUBLISHED BY S. YOUng, 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).
JAPANESE LEASEHOLD PROPERTY
GERMAN ENEMY PROPERTY
CONTENTS
Paragraphs
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2
3
4
ASSETS AND LIABILITIES
MANAGEMENT OF THE DEPARTMENT
APPENDIX
I. Japanese Leasehold Property and German Enemy Property
Receipts and Payments Account.
iii
THIS report covers the accounts and activities of the Custodian from 1st April, 1964 to 31st March, 1965, and unless other assets come to light it constitutes my final report.
A Statement of Receipts and Payments for the year is attached as Appendix I.
JAPANESE LEASEHOLD PROPERTY
1. Control of this property was vested in the Administrator of Japanese Property, but the arrangement whereby the Custodian exercised manage- ment continued until 4th June, 1964 when the only remaining property, No. 3-4 Minden Row, was sold at public auction.
GERMAN ENEMY PROPERTY
2. A refund of United Kingdom Income Tax deducted from dividends on 286 shares in the Guardian Assurance Co., sold during the year 1963-64, was received during the year. The refund, less Custodian fees, was transferred to the credit of the Development Loan Fund.
ASSETS AND LIABILITIES
3. The transactions recorded in the Statement of Receipts and Pay- ments cleared all outstanding accounts by the end of the financial year, so that at 31st March, 1965 the Custodian had no outstanding liabilities and controlled no assets.
MANAGEMENT OF THE DEPARTMENT
4. Custodian fees collected during the year and paid to the General Revenue of the Colony amounted to $99,603.73. Expenditure during the year was provided for under the Treasury vote.
8th April, 1965.
1
H. HEYS,
Custodian of Enemy Property.
3
APPENDIX I
CUSTODIAN OF ENEMY PROPERTY
RECEIPTS AND PAYMENTS ACCOUNT FOR THE YEAR ENDED 31ST MARCH, 1965
JAPANESE LEASEHOLD PROPERTY
RECEIPTS
Refund of Property Tax
Refund of Insurance Premium
Received from Administrator of Japanese
Property for Custodian fees on sale
Balance due to the Administrator of Japanese
Property:
brought down
Brought forward at 31.3.64
PAYMENTS
$ 1,750.00
588.00
99,600.00
Expenses in connexion with Property Custodian Fees charged on sale of Property Balance due to Administrator of Japanese
Property carried down ...
$ 1,453.70
99,600.00
884.30
$101,938.00
$101,938.00
Remittances to the Administrator of Japanese
Property...
$ 2,007.81
884.30
1,123.51
$ 2,007.81
$ 2,007.81
Refund of U.K. Income Tax on dividends on
holding of shares, estate of Herm Witte
GERMAN ENEMY PROPERTY
Custodian Fees
$
3.73
$
93.14
...
•
Payment to Revenue of the Development
Loan Fund
89.41
$
93.14
$
93.14