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next year.
If however Your Lordship will approve of
further work on the second part of the shing Lumater
Works scheme proceeding, and of the gaol being paid for
from a loan, it may be necessary to arrange for the issue
of Treasury bonds, or for a temporary overdraft early
next year, and for a loan towards the end of the year to
provide funds for the additional works and to repay the
Public Works loan of 1927. In any event, a further
loan may be desirable for the latter purpose with a
view to securing money at a lower rate of interest.
12.
I enclose a statement, setting out our present
and anticipated liabilities, and indicating how these
can be met from surplus balances up to the end of 1932.
13. I may add that private companies are being
invited to provide ferry boats for the Vehicular Ferry
and I do not anticipate that Government will be called
upon to make such provision.
I have the honour to be,
by Lord,
Your Lordship's most obedient, humble servant,
(sd.) W. Feel.
Governor, &c.