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down Stores $32,000 and the amount of anticipated credit on sales may be allowed to stand at $132,000 instead of $150,000 as given last year. The grants for the year were $2,100,000 for Construction and $100,000 for Open Line. Against the former $1,914,911.84 was spent and $73,574.33 against the latter. The amount lapsing from the Construction grant is mainly due to a net credit of $216,074.83 being afforded for profit on exchange at the end of the year.
KOWLOON, 5th April, 1911.
E. S. LINDSEY, M.I.C.E.,
Chief Resident Engineer,