CO129-370 - Governor Sir Lugard & Public Offices - 1910 [12] — Page 376

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Hong Kong.

ALL COMMUNICATIONG

TO BE ADDRESSED TO THE

CROWN AGENTS FOR THE COLONIES,

THE ABOVE REFERENCE AND THE

DATE OF THIS LETTE BEING QUOTED.

TEL. ADD "OROWN, LONDON?

C0371 19832

RECO Reg 29 JU 10

WHITEHALL GARDENS,

LONDON, S. W.

28th June 1910

190

Sir,

CAS

M.

Referring to your letter of the 15th February 1908

.4282/1908 and to Previous correspondence I have the honour

to state that at the present time the gums which we have

advanced to the Government of Hong Kong for railway construc-

tion(in addition to the sums, amounting to £140,000, which

have been repaid by the Viceroy of Wuchang and puid over to

the Colonial Government for the same purpose) amount to

£486,000.

2. The only security for this large sum are the future

repayments by the Viceroy, which it was stated in your letter

of the 15th February 1908) would be hypothecated for the

purpose.

The amount remaining to be repaid is £500,000, and

repayment is being made by instalments of £110,000 la Noveriber

of each year. It will be seen, therefore, that the margin for

any further advances is not great.

3. Moreover, we have had loan moneys hitherto in our

hands belonging to other colonies which we have been able to

use for making the advances to Hong Kong, but it seems likely

that these moneys will shortly be required by the colonies to

which they belong.

4. It has become necessary therefore, that we should

The Under Secretary of State,

be

etc., etc., etc.,

Colonial Office.