163
£6.
1,250,000
1,143,953
£106,067
of the railway and he urges that a further loan of £250,000 should be raised to meet the cost of the items set out in that paragraph which total to a sum of $2,420,773.
The "Tuchang Loan" with the contingent expenses cost the Colony, if I recollect aright, the sum of £1,143,933, and since the expenditure debited to Loan Account covers not only the cost of railway construction, but also the cost of a large reclamation the greater part of which is not required for railway purposes and is available for lease (and in point of fact is, in part, now leased) as also the cost of acquiring "Blackhead's Wharf", I am disposed to suggest that the total loan should be definitely fixed at £1.4 million sterling, and that any liabilities which cannot be included in this sum should be met from current Revenue.
This would render available for the requirements specified a sum of £106,067, or say $1,218,200 (@ 1/9).
7.
Against this sum there is I understand from Mr Severn's despatch an outstanding deficit of $307,212. The amount required for land purchase is $1,473,390, and the amount estimated by the Manager for stations, buildings and alterations of the line, work shops, etc. is $641,171.
8.
As regards the first of these items I have no comment to make. I assume that the works for which it was incurred all received my approval. As regards the second item I have already suggested that the surplus of last year ($430,054) should be hypothecated in part payment of the sum of $527,214 (which must be paid at once) leaving $1,252,388, which is approximately only $40,000 short of the amount available from the loan I suggest.
| Land | 1,473,390 |
|---|---|
| Deduct | 527,314 |
| 946,176 | |
| Add deficit | |
| Required | |
| 307,212 | |
| Loan | 1,212,200 |
| Loan | 240,188 |
| Regt | 527,214 |
| 40,188 | |
| 567,402 | |
| this yr. | |
| Ddct | |
| 1910 | |
| surpl: | 420,054 |
| Bal: | $147,348 |
| rad this year | (3) |
.སྙ
163
£
6.
1,250,000 1,143,953 £106,067
of the railway and he urges that a further loan of £250,000 should be raised to meet the coat of the items set out in that paragraph which total to a sum of $2,420,773.
The "Tuchang Loan" with the contingent expenses cost the Colony, if I recollect aright, the sum of £1,143,933, and since the expenditure debited to Loan Account covers not only the cost of railway construction, but also the cost of a large reclamation the greater part of which is
not required for railway purposes and is available for lease (and in point of fact is, in part, now leased) as also the cost of acquiring "Blackhead's Wharf", I am disposed to suggest that the total loan should be definitely fixed at 14 million sterling, and that any liabilities which cannot
be included in this sum should be met from current Revenue.
This would render available for the requirements speci- fied a sum of £106,067, or say $1,218,200 (@ 1/9).
7.
Against this sum there is I understand from Mr Severn's despatch an outstanding deficit of $307,212. The amount re- quired for land purchase is $1,473,390, and the amount estim
ated by the Manager for stations, buildings and alterations
of the line, work shops, etc. is $641,171.
8.
As regards the first of these items I have no comment
1 0.5%
#LO
to make. I assume that the works for which it was incurred
Land 1,473,390 Deduct 527,314 8945,176
Add de fot Requir:
all received my approval. As regards the second item I have
already suggested that the surplus of last year ($430,054) should be hypothecated in part payment of the sum of $527,214(which
must be paid at once
nce)leaving $1,252,388,
which is approximately only $40,000 short of
the amount available from the loan I suggest.
307,212
1,252,388 Loanl 212.200
Loan240, 188
Regt 537,214 40,188
567,402
this yr.
Ddct
1910
surpl: 420,054
Bal:
$147,348
rad this year
(3)
No comments yet.
Private notes are available after approval.