Another Estimate
p. 26 · Read in the full issue
From Our Own Correspondent.
WAU, August 4.
TT is expected that the financial year of A the Mandated Territory of New Guinea ended June, 1935, will disclose a surplus of approximately £50,000, of which £26,127 was brought forward from July, 1934- The estimated revenue for 1934-35 was £358,000. This is likely to be exceeded by £25,000 or £30,000, due mainly to the increased customs revenues, mining royalties and various mining fees. Ex penditure for the year should prove less than estimated, and should be about £364,000, salaries amounting to £170,000.
All external interest bearing loans during the last few years have been repaid owing to the prosperous gold in dustry, also necessary public buildings and dwellings have been undertaken, without any increase in the 5 per cent, gold royalty.
Over £83,400 was appropriated out of 1934-35 revenue for new works, of which £60,000 has been expended. A balance of £23,420 has been brought forward and included in the appropriated amount for new works for 1935-36, amounting in all to £90,000.