88
34
4.. In respect of losses of sugar-cane, island to be divided into areas on recommendation of the Board who will recom- mend for approval of the Governor maximum percentage of loss acceptable in each area.
5. No loans to individual planters for damage to crops within an area to exceed percentage for that area. Regard to be had to the possible reduction of cultivation at the time of the hurricane in any given case as compared with crop of 1928.
6. Loss to factory owners on planters' cane manipulated by their owners to be calculated on net value of their share in sugar according to existing contracts.
7. Nature of security offered in each case to be carefully investigated having regard to condition of property, its liabilities and incumbrances and reasonable expectation that it will not be allowed to deteriorate in value, and that cultiva- tion will be adequately maintained in extent and quality.
8. Board to be satisfied that loans are required and will be applied to financing continuance of production or to help in securing such financing.
9. Interim advances on sanctioned loans not to exceed 50 per cent. of total assessed.
10. Board otherwise to be guided by provisions of Ordinance and Regulations made thereunder.-Ends.
C. 84556/31 [No. 73].
35
No. 21.
Telegram from the Secretary of State for the Colonies to the Governor of Mauritius.
(Sent 7 p.m., 20th July, 1931.)
[Answered by No. 22.]
No. 86. Confidential. Your telegram No. 89.* I concur subject
to following exceptions:
(1) Paragraph 6 is not understood and I should be glad of explanation.
insert in the case of (2) Paragraph 8. After "applied loans in respect of losses on buildings, factories, and other irremovable property, to the repair of that property, and, in the case of other loans."
(3) Paragraph 9. There appears to have been misunder- standing as regards interim advances. I had not contemplated that advances made before issue of loan should necessarily be restricted in any way and this provision appears unnecessary. PASSFIELD.
C. 84556/31 [No. 78].
No. 22.
Telegram from the Governor of Mauritius to the Secretary of State for the Colonies.
No. 100.
(Received 1.34 p.m., 22nd July, 1931.)
[Answered by No. 23.]
Confidential.
22nd July. Your telegram No. 86.† Explanation of paragraph 6 as follows. Large proportion of canes crushed in many factories belong to planters under contract (of) factory to receive share of two-thirds of sugar produced from their canes, factory keeping about one-third.
Paragraph intended to compensate factory owners for ascertained shortage due to cyclone on canes contract and consequent loss on his third share of sugar less costs of manufacture not incurred.
* No. 20.
↑ No. 21.
02
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