Enclosure No.1.
6
MEMORANDUM.
I have the honour to forward herewith a revised statement
of expenditure in respect of the 31% Dollar Loan, 1934.
2. The revision is necessary owing -
(a) to the inclusion of a wholesale market under Head 8,
(b) to the increased price of iron and steel since the
original estimates for the Central and Wholesale Markets
were drawn up in November, 1936, and
(c) to a further estimate of the actual expenditure on
the Gorge Dam as the figures supplied by the Resident
Engineer, which formed the subject for my memorandum dated
24th November, 1936, were too low. The actual cost is now
estimated at $8,660,000 but with anticipated credits now
given by the Resident Engineer as $400,000 from the sale of
stores and plant the net cost is now placed at $8,260,000. The amount of $8,325,000 as shown in the printed Estimates
for 1937 (Appendix VI (b) p.117) has, however, be en allowed
to stand.
3. The revised Schedule of Loan Works will, therefore,
be as under:-
Estimate.
Revised Estimate.
Head 1, Aberdeen Valley Water
11
11
Scheme.
2, Shing Mun Valley Water
Schemes.
3, Vehicular Ferry.
$2,555,702.78 $2,555,702.78
9,941,877.98 9,941,877.98
1,930,000.-- 1,915,603.80
11 5, Tytam Tuk Catchwaters.
#
4, New Gaol at Stanley.
4,400,000.-
4,000,000.--
700,000.--
689,386.55
11
6, Airport.
1,007,485.92
1,007,485.92
11 7, Redemption of 31%
Inscribed Stock.
3,864,942.97 3,864,942.97
11
8, New Markets.
550,000.-
1,025,000.--
11 9, Public Works Unallocated.
49,990.35
$25,000,000.-- $25,000,000.--