CO129-431 - Governor Sir May - 1916 [1-2] — Page 251

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GOVERNMENT HOUSE.

HONGKONG. 26th. January, 1916,

sir,

I have the honour to inform you that on the 22nd. December, I sent you the following telegram in answer to your telegram of the 16th. idem, viz. ;=

2.

"Your telegram of 16th. December no liquid assets pending

raising loan under Ordinance 8 of 1913. Present overdraft $1,900,000. Accounts were in same form as from 1910 have

been altered from September last to be more in conformi- -ty with Financial Instructions. Despatch follows by

mall".

On enquiry into the matter of the form of the State-

-ment of Assets and Liabilities I find that previous to that for

the year 1910, the reimbursements due on account of Railway

Construction were shown in a foot-note and not in the body of the

statement but in the one for 1910 no foot-note was given.

It would appear that this farm was adopted in

imitation of the one attached to the Report of the Comptroller and

Auditor-General on the Finances or the year 1909 which was trans-

-mitted in your predecessor's Despatch No. 4 of 5th, January, 1912,

and that it was assumed that the amount of the Loan advanced to

the Viceroy at Tuchang could be treated as an asset and not as

funds to be raised by loan.

It was however overlooked that the amount of

21,100,000 had about that time been wholly expendea but as no

question

RIGHT HONOURABLE

ANDREW BONAR LAW, M.P...

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