CO129-412 - Governor Sir May - 1914 [7-8] — Page 336

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6.

It is calculated that on the average, buoys would

be used monthly as follows:-

A class

79 days.

B ·

136

C W

371 *

and I propose to impose fees of $8, $6 and $4 per diem for each

of the three classés.

This would produce monthly $632 for Class A,

$816 for Class B and $1,484 for Class C or a total of $2,932 or say $2,500 per mensem to be on the safe side. This gives an annual revenue of $30,000 per annum.

$250,000

Six per cent interest on the capital cost of

$15,000

sinking Fund at 2%

Recurrent Expenses

5,000

10,000

Total

$30,000

t

The scheme * therefore, is capable of being easily financed and

may even by increase of fees bemade a source of a moderate

revenue.

7.

I have, therefore, to recommend that a sim of $250,000 be provided as special expenditure, to be charged against balances in hands of the Government, for the capital cost involved and $10,000 for recurrent expenses e provided in the Estimates for 1915 and I shall be glad to learn your decis- ion by telegraph.

I have the honour to be,

sir,

Your most obedient,

humble servant,

Array.

Governor,ke.