2.
52
12
such water supply to be capable of supplying the population of Macau, based on an estimated population of 150,000 with 40
litres of water of bacteriological purity per day, and further
under such Contract the Company has to take over the existing
Waterworks of the Colony.
In accordance with such Contract the Company has
entered into a building Contract with Messrs. Malcolm & Co.,
Ltd., Water Engineers, for the reconditioning of the existing
Waterworks and the erection of fresh Waterworks which will
involve a capital outlay of $1,474,000, in addition to which
there has to be paid for the existing Waterworks the sum of
$400,000. The estimated cost of the erection of the new
Waterworks will therefore probably exceed $2,000,000 Hong
Kong currency.
The Corporation is, of course, perfectly prepared
to accept and be responsible for all financial risks in con-
nection with the scheme, but requests that the Government of
this Colony, or the Home Government, will, in accordance with
the recommendations made by certain Officials in this Colony,
undertake to be responsible for any loss which may be incurred
by the Syndicate which may be due to any political or inter-
national change in the Colony of Macau which will prejudice
the Syndicate in carrying out the Concessionary Contract or
may lead to a cancellation of such Contract.
This Corporation therefore has the honour to request
that Government will give the above undertaking, having regard
to the fact that but for the representation made to this Corpora-
tion on this point, this Corporation and the Macau Electric
Lighting Co.Ltd. would not, under any circumstances, have
agreed to finance the scheme.
We have the honour to be,
Sir,
Your obedient Servants,
For the Hongkong & Shanghai Banking Corporation,
sd. V.M. GRAYBURN
CHIEF MANAGER.