years from date of issue, would command better terms in London than those appeared by the Bank; and that the Commission charged by the Agts Dept. (including 8% brokerage) is, as laid down in Circular Desp: of 23 Jan: 1868, only 1⁄2 percent for superintending the preparation of the Debentures & disposing of them, as compared with 2 per Cent demanded by the Bank for selling them to themselves - while the charge for paying the interest & managing The Sinking fund would only amount
still in one operation, the issue of the Water Works and Praya Loans, could be authorised by one Ordinance be combined.
to Mr Quire on such interest or the annual sum of £6.5.0 per Annum, as compared to an unknown sum to be paid to the Bank for such Services. Such a loan placed on this market would moreover pave the way to better terms for the Bank's next operation, swelling the amount as it would to quotable quantity in the Share Lists of the Stock Exchange, and thus give Hong Kong Securities a Marketable character.
If it be determined to borrow in London, something like a prospectus should be sent home, setting forth the financial Condition & prospects of the Colony, as shown by the Exports, imports, revenue, Expenditure, and Debts, during The last seven years, down to the latest possible period. P.G.J
167 29/10/75
1766) Hong Kong Water Supply
W. Mende
In the papers.
Cre
371
the valves have been out of order for some time (in 1874/5). I concur with Messrs. Price & Son in their general opinion that the original Works would have cost £302,147–
Mr. Rawlins, to whom the question was referred, proposed a more moderate estimate for construction from Victoria. Lee's deals £869./94 -
1. Aqueduct from ... at a cost of £136400-
de quation Laving been opened back...