The_Open_Door_deel1

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TABLE 4
LIBERIA COMPANY'S DIVIDEND INCOME
FROM THE LIBERIA MINING COMPANY AND
THE MONROVIA PORT MANAGEMENT COMPANY/NATIONAL PORT AUTHORITY
Year
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1963 - 1977
(in thousands of U.S. dollars)
Dividend
From LMC 1
$ 489
437
358
380
336
$ 373
524
381
330
319
$ 76.x
217 x
283
328
235
Note:
(1) Amounts rounded to nearest thousand.
Dividend
From
NPMC/NPA
$ 2 2222
$ 2
50 25
13
1 1 4
S ource:
- Concession Secretariat, Ministry of Finance, Monrovia.
increase of over $ 2 million ($ 2,104,789) in the carrying value
of this investment on December 31, 1971, an increase of retained
earnings on January 1, 1970 of over $ 2.5 million ($ 2,549,789)
and a decrease of net income of $ 322,500 and $ 122,500 for 1970
and 1971, respectively. In combination with some other changes
introduced, resulting in a small increase of net income in these
years, there was a net decrease of net profits of more than a
quarter of a million dollars ($ 271,108) in these two years. To
cope with these and other changes and manipulations the Government
would need a fully staffed office or agency and qualified
civil servants. However, the Concessions Secretariat within the
Ministry of Finance was created as late as 1974 and did not fulfil
this role in 1978. To make things worse the Liberia Company,
too, is in the habit of keeping part of its records in the U.S.A.
The information available moreover easily gets lost within the
Ministry of Finance.
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