the very
moderate figure of $100,000. I anticipate, therefore, that it will not be
necessary to draw upon the receipts from the sale of the Praya Reclamation sites for the purpose of meeting ordinary expenditure and see no objection to setting such sums apart for the specific purpose as recommended by the Committee.
I should mention, however, that the Government claim to the Reclamation in front of Marine Lot 63 has been disputed, but the Government has been approached with a view to a settlement of the matter out of Court, and if the terms offered are accepted by the Government, the sum of $300,000 estimated as the amount to be realised from the sale of the reclamation in front of Marine Lot N.63 will be reduced to $230,000, leaving a sum of $70,000