275
$2,000,000,
This work will be completed in about twelve months
POT ANDARE A DILONEMOH TIE
time.
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3. The further additional cost of building the actual dock, with two caissons, one of which divides the dock in two portions, and all other necessary equipment, will be about $6,000,000 Hongkong currency, and the time to complete about four year from the date of commencement.
4. The Company is anxious to proceed with the work as quickly as possible, but in view of the large additional amount involved, and its national importance not only to the Colony of Hongkong, but to the Empire, feel that we should get some little assistance from the Hongkong Goverment.
5. The method we propose is this:-
The Hongkong Government to place the necessary amount for the construction of the dock during its construction, and for a period of ten years thereafter on deposit with The Hongkong & Shanghai Banking Corporation at Hongkong getting their fixed deposit receipts. Interest will be paid at four percent for this deposit. Vo in turn will arrange with the Hongkong Bank to advance us the money on tems to be arranged by us with them. The Hongkong Government will therefore be safeguarded as to the capital and interest of the loan.
6. We enclose a plan of our main Dockyard at Kowloon,
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