いい
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opinion that there are reasonable grounds for this expecte-
-tion. I am myself less optimistic. Secondly if it be
assumed that the expansion of traffic will take place, it
remains for consideration whether in view of so rapid and
presumably increasing a traffic the building of piers
would be preferable to an extension of the reclamation to
deep water. It must also be borne in mind that as the
Railway and reclaimed land is owned by the Colonial
Government it is immaterial from the point of view of
Revenue whether the rental price accrues from this Railway.
Reclamation or from any other unoccupied Crown Land. Proxi-
-mity of the coal depot to the Railway may be useful in
slightly reducing the cost of coal to the Railway, but it
is improbable that it will ever offer a profitable freight
since if its destination is Canton it would be hardly
remunerative to compete against the rates at which it is
carried by junks, while after the completion of the
Hankow line coal may be exported from the coal-fields of
Hunan, and will be in competition with Japanese coal. Kr.
Lindsey, however, thinks it possible that the Railway may
be able to carry coal profitably to canton, provided the
trucks have a back-load which may be found in Limestone
for the Cement Works. If cheap Chinese coal is exported
from