CO129-424 - Governor Sir May - 1915 [9-10] — Page 469

louiere

X

464

the projected roads, the works should be proceeded with in 1916.

A sum of $12,500 has been provided for the

construction of a branch road from Shanghai Street to Shanshuipo,

where considerable development has taken place during recent years. This sum includes $4,200 for the resumption of certain land and buildings situated on the route of the proposed road, but this money will not be spent should the lessees consent to an exchange of their properties for Crom Land elsewhere.

Plans of items 4, 8(d), 36(c) and 36(*) are enclosed. The plans of the Central Police Station Extension (item

5) will be forwarded when ready.

16.

The Working Expenses of the Kowloon-Canton Railway for 1916 appear in detail in the body of the Estimates instead of being included in an Appendix. The estimated expendi- -ture for next year is $313,905 which is 89,550 less than that for the current year. The revenue in 1916 is estimated at $432,500, or $3,000 less than the amount estimated for 1915, leaving a net balance of earnings over working expenses of 118,695. The financial position of the Railway is shown in note 3 in Appendix II on page 121, from which it will be seen that the deficit to be met from General Revenue is estimated at 8523,625 as against an estimated deficit of 8458,510 for the current year.

In accordance with the proposals approved in

your Despatch No. 152 of the 8th. June, 1915, the Construction Account will be closed at the end of this year, and the expense8 of construction beyond the authorised loans of £1,100,000 and £250,000 will be included in the annual expenditure of the Colony. The sum required in 1916 is 8386,198, the major portion of which is due to expenditure on the Station Buildings at Kowloon, and the new loco. and carriage sheds at Hunghom.

17.

Under the head "Charge on Account of Public Debt there is a total increase of $81,039, due partly to the lower rate of exchange on which the Estimates are calculated, partly to the inclusion of Crom Agents' charges on the 1906 Loan, which were formerly paid out of a special fund, and to the

interest