I think the remission of
$ 300,000 of the $600,000 loun to 77? Kwik should be 65-77? approved as remmended by the God. in Concil. It will be noted that no cash payment is involved and the result of the transaction will be merely to reduce by the amount the Colony's excess of assets over liabilities.
? Telegraphe approval
accordingly
23.7.30
follows.
The history of this case is briefly as
As a result of an application made to the Hong Kong Government by a local firm of engineers
Robert in 1920 on behalf of the Dollar Steamship Company to purchase a foreshore area (Larine Lot 321 nearly opposite Kowloon Point) the Government considered it necessary to prepare a comprehensive scheme for the development of the foreshore over an area extending from that Marine Lot eastward. A scheme was devised and in the meantime the application was extended to purchase a further area (Larine Lots 430 and 431)
eastward