--4--0
28
Wage
885,000 6,200,000
x 100 - 141%.
45,000 4,550,000
x 100 = 1%.
(6) What circumstances have prevented the work from being put
in hand before?
Due to lack of funds, labour troubles of
1925 and also to the fact that such a large extension
to existing works was not required before 1925.
(7) Proposed method of financing capital expenditure contem-
plated. State what sum, if any, is included in respect
of interest during the period of construction, not
exceeding five years; the term of any loan; and the
suggested method of repayment.
By loan. If the total amount of the loan
were $6,000,000, it would be necessary to provide
$300,000 per annum on account of interest and
$150,000 per annum on account of sinking fund to
repay loan in 25 years.
(8) The advantages to be derived, and the additional yearly
net revenue estimated to be earned, as a result of the
proposed expenditure.
It is not merely an advantage but an urgent
necessity to complete these works as soon as possible.
The present storage in Hong Kong and Kowloon
is quite insufficient to maintain an adequate supply
during a year of low rainfall as was proved last year
when