"
29
C
and $25,000 for the "Nessus", subject except in the
case of the "Faulkner" to a depreciation of 7% per annum
the other half being borne by the Admiralty.
In the case of repairs necessary through
collision or fire it was agreed that the cost should be divided between the Colonial Government and the Admiralty as in the case of total loss,
It was further agreed that the cost of insurance of these three armed launches against loss or serious damage should be shared by the Colonial Government and the Admiralty, should the colonial Government decide to insure against their share of the risk.
Intd. C.C.
Governor.
Intd. G.S.A.S.
Admiral, Commander-in-Chief.