CO129-412 - Governor Sir May - 1914 [7-8] — Page 318

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Enclosure 4.

309

Hon. Colonial Secretary,

I have recently been urging the Contractor for the Law

Courts to push on with the work as the building has reached such

a stage as to render it possible to complete it within a very moderate period. He pleads however that he is in want of money (vide letter attached).

The following is a statement of how matters stand as

regards his Contracts:-

(1). Contract No.17 of 1903

Superstructure.

$25,000

Estimated value of work

remaining to be done.

Amount retained in the hands of Government under the Contract.

Security in the hands of

Government for fulfil- ment of the Contract (title deeds)

(ii). Contract No 34 of 1909

Estimated value of work remaining to be done.

Amount retained in the

hadde of Government under the Contract.

$20,000

5.000 25,000

Joinery & Fittinez.

Security in the hands of Government for fulfil- ment of the Contract (cash deposit).

4,000

61,5000

2.500 6.500.

31,500 86,500

It will be observed that, as regards (i) the Government have in hand money and title deeds belonging to the Contractor equivalent in value to the work remaining to be dyne, whilst, in the case of (ii), the Government hold in cash a sum equal to fully 10% of the value of the work remaining to be done. Taking both contracts together (I and II), the Goverment have in hand money and title deeds amounting to fully 36% of the value of the work

remaining to be done.

I consider that it would be wise policy to release some

of the money held by the Government with a view to accelerating

the progress of the work and I submit that I be authorised to make