CO129-419 - Individuals - 1914 — Page 114

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Architect's estimate for this was $32,000: (including extra cost to foundations), based on Contract prices of work then in execution both as regards foundations and the superstructure.

As a matter of fact it has cost £37,412.00 and the Tower is still incomplete being finished off at roof level.

It is estimated that a further sum of £59,300.00 will be required to complete the Tower (without Clock) making a total of $96,712.00, as compared with the estimate of $32,000.

(9)

With respect to Mr. Chathap's procedure and methods in carrying out the work under notice, I submit the following loss of Public funds has resulted:-

The sum paid to the Contractors

in settlement of their claim owing to the delay of the roof,

Loss of interest on invested

capital, say, $1,280,546.00 even at 3 for a period of sixteen months, (this period being the difference between Contract date for completion and actual completion)

LOSS.

$23,600.

¡

$51,221.84

і

$74,821.84

The above aum does not include the salaries

of various officers during the period under review,

which must amount to a considerable sum, neither does

it include office rent, stationery, etc., as consider-

ed from a business point of view.

(10)

PUBLISHED REPORT.

Cost. Clause 2 & 3.

With respect to the above, I would point out

: