CO129-398 - Individuals - 1912 — Page 158

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the question with the Treasurer, who leaned to the view that the terminal should be at Hong Hun but in this (as I told him) there is, I think an overwhelming conse- sua of opinion against him. If the station is to be looat- ed as proposed he was decidedly of opinion that the land should be acquired by purchase, and not by exchange.

Of the six unofficial members of the 'br. three were

lig. Concil

interested parties, viz: Mesare Ross, Osborne and Hewett, while Mr Pollock was a warm advocate of the proposal, and the Chinese members would not take an active interest, and were uninformed as to the precedent conditions. I therefore authorised Mr Chatham to inform Messrs Chater, Rosa & Osborne that on the understanding that they were willing to accept either of the alternative methods, viz: the exchange of land and a cash payment of some 4 lakhs, or a cash payment at the agreed rates and the Police Camber only the Government would take the marine lots for the terminal site, and they could make their arrange- ments accordingly. Both schemes of payment involve the cash payment of 4 lakhs odd, and I requested the Colonial Secretary in his capacity as 0.A.0. after my departure to

Legislat introduce a financial minute with the Legation Council

in

for this amount. At the same time I wrote a minute to be

laid before the Finance Committee explaining the circum-

stances in some detail.

The year 1911 closed with a surplus balance of over

4 lakhs instead of the considerable deficit which had been

estimated for, and which it had been proposed to meat from Reserves on account of expenditure on the Typhoon Refuge. I propose, therefore, that this surplus should be devoted

to the payment of this sum now required. For the rest I

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(5)