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19th. July and negotiations for the purchase of these lots is now proceeding. As regards item ii I have at present under consideration a proposal to reserve Blackhead's Lots exclusively for berthing ocean steamers and for goods sheds etc. and to acquire a new and more convenient site for the Kowloon Terminus. I shall address Your Lordship at an early date on this subject as well as on the question of the provision of workshops (item iii).
3. The funds available to meet these disbursements are an estimated Government cash balance on 31st. December, 1907, of $4,441 and the fourth instalment in repayment of the Wuchang Loan due on 10th. October, 1908, which leaves a balance unprovided of $2,497,782.
4. Subject to Your Lordship's approval, I would suggest as the most economical course that the Crown Agents be asked to make advances to the amount required out of the monies in their custody at 3% as has been done on previous occasions. Such advances, for which interest has been provided in next year's Estimates, would ultimately be repaid out of the reimbursements of the Wuchang Loan in 1910 and following years.
5. Apart from the ordinary expenditure on