NO. 169.
-.ongkong.
FUT
Rec
27597
2 29 JUL 06
Goverment House,
373
Hongkong, 23rd. June, 1906.
ca
3544
My Lord,
Referring to Your Lordship's despatch No.45
dated the 2nd. March last, concurring in the proposal with
regard to the establishment of a special sinking fund con-
tained in paragraph 6 of a letter addressed by the Crown
Agents for the Colonies to the Colonial Secretary on the
23rd. February on the subject of the recently raised Hong
Kong Loan, I have the honour to suggest that advances from
this fund should be limited in each year to £110,000, the
amount of the Viceroy's annual repayment, and that this
amount should be placed to the Colony's general account
for the purposes of the construction of the Kowloon-Canton
Railway a3 soon as received, interest in respect of it
being paid from that general account into the special fund
on the 6th. April and 6th. October each year. If this is
done then, taking the dollar at 28., $38,500 will be provid-
ed in the estimates for 1907 for payment into the special
account RIGHT HONOURABLE
THE EARL OF ELGIN, K.G.
&c.
&0.
&C.