$
415
to pay the interest charges on the new loan. Leaving out of account that part of the loan which relates to the Hankow line, I presume the charges for the Kowloon @anton line will not fall far short of $400,000 yearly but as we don't know exactly when the money will be wanted we camot of course say how much interest will be payable next year.
There is nothing to note in the Estimates of Revenue, the side notes to the printed memorandum giving
all the explanation necessary.
As to details of expenditure:-
Interest will have to be largely increased as above Pensions show a further increase of about $16,000 but there will of course be a large suving on the present figures if the dollar keeps up.
Widows' and Orphans' Pensions appear for the first time (only provisionally at present as the Council has not yet decided to take over the fund)
This item will of course increase greatly in future as the fund is still young. At present the out goings including clerical expenses are only about a third of the sims received as contributions from offi-
cers.
The principal increase in ordinary departmental charges is in the Post Office, where it amounts to $44,231. About $40,000 of this will be permanent as it comes from increased salaries and new posts of which practically all have been approved already. The new rate of payment to the mail subsidy means & net increase of about $27,000 only, as $45,000 is saved.cn payment
of transit charges.
There appears to be an estimated loss of about $7000 on the year's working of the Post Office
It
་་
No comments yet.
Private notes are available after approval.