M
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52.
next year.
If however Your Lordship will approve of
further work on the second part of the Shing Mun Water
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,
My Lord,
Your Lordship's most obedient, humble servant
Live
Governor, &c.