Treasury Chambers,
Whitehall, S.W.
84
fact that the Government would not undertake to dredge
to 36 feet, and who are now forcing the hands of the
Government.
I therefore said that while I did not demur
to the view that it might be worth while to go to 36 feet,
it seemed to me that if the Hong Kong revenues are not
able to finance the work without difficulty, the additional
cost of going to 36 feet as compared with 34 feet, (or at
least part of it), should be got out of the Godown Company.
The Chairman however ruled that this was not a matter
for the Imperial Shipping Committee, and he is going to
circulate a draft reply to the Colonial Office on the whole
question.
I do not know how the Hong Kong finances
stand at the moment. The cost of the work would appear
Hayk to be in the neighbourhood of 1,100,000 dollars, and this
may be reduced by the additional requirements to be
financed by the Admiralty.
Taking this as the figure,
and assuming that the money is to be repaid within five
years, the annual charge would work out at about
250,000 dollars a year. It seems to me a question for