CO129-340 - Governor Nathan Acting Governor May - 1907 [4-6] — Page 630

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed

624

Mr. Eves calculates that the earnings of the British Section will pay 34 per centum on the capital cost which is estimated in round figures at $10,000,000 including interest on capital during construction. No margin remains for sinking fund for repayment of the loan for the Railway.

He estimates that it will take a year's working to reach this earning power, and he does not anticipate any appreciable increase in the earnings until the Chinese Section is linked with the trunk line from Canton to Hankow or with a branch line to Swatow.

Mr. Eves is, I think, somewhat sanguine in thinking that the Railway will capture the whole of the passenger traffic with Canton which now is carried in the River Steamers. The Colony must, therefore, be prepared for the first few years to obtain a return of even less than 34 per centum on the capital cost of the Section.

It follows that until the Railway is in full working order and its earning power is ascertained, the strictest economy in the Colony's finances is eminently desirable.

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624 3 Mr. Eves calculates that the earnings of the British Section will pay 34 per centum on the capital cost which is estimated in round figures at $10,000,000 including interest on capital during construction. No margin remains for sinking fund for repayment of the loan for the Railway. He estimates that it will take a year's working to reach this earning power, and he does not anticipate any appreciable increase in the earnings until the Chinese Section is linked with the trunk line from Canton to Hankow or with a branch line to Swatow. 4. Mr. Eves is, I think, somewhat sanguine in thinking that the Railway will capture the whole of the passenger traffic with Canton which now is carried in the River Steamers. The Colony must, therefore, be prepared for the first few years to obtain a return of even less than 34 per centum on the capital cost of the Section. 5. It follows that until the Railway is in full working order and its earning power is ascertained, the strictest economy in the Colony's finances is eminently desirable. 6. Page 630 Page 631

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: 624 3 Mr. Eves calculates that the earn- -ings of the British Section will pay 34 per centum on the capital cost which is estimated in round figures at $10,000,000 including interest on capital during construct- -ion. No margin remains for sinking fund for repayment of the loan for the Railway. He estimates that it will take a year's working to reach this earning power, and he does not anticipate any appreciable increase in the earnings until the Chinese Section is linked with the trunk line from Canton to Hankow or with a branch line to Swatow. Mr. 4. Eves is, I think, somewhat sanguine in thinking that the Railway will capture the whole of the passenger traffic with Canton which now is carried in the River Steamers. The Colony must, therefore, be prepared for the first few years to obtain a return of even less than 34 per centum on the capital cost of the Section. 5. It follows that until the Railway is in full working order and its earning power is ascertain- -ed, the strictest economy in the Colony's finances is eminently desirable. 6. Page 630Page 631

2026-06-04 20:12:21 · Baseline

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624

Mr. Eves calculates that the earn-

-ings of the British Section will pay 34 per centum on the

capital cost which is estimated in round figures at

$10,000,000 including interest on capital during construct-

-ion. No margin remains for sinking fund for repayment of

the loan for the Railway.

He estimates that it will take a

year's working to reach this earning power, and he does not

anticipate any appreciable increase in the earnings until

the Chinese Section is linked with the trunk line from

Canton to Hankow or with a branch line to Swatow.

Mr.

Eves is, I think, somewhat

sanguine in thinking that the Railway will capture the

whole of the passenger traffic with Canton which now is

carried in the River Steamers. The Colony must, therefore,

be prepared for the first few years to obtain a return of

even less than 34 per centum on the capital cost of the

Section.

It follows that until the Railway

is in full working order and its earning power is ascertain-

-ed, the strictest economy in the Colony's finances is

eminently desirable.

Page 630Page 631

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