CO129-475 - Governor Sir Stubbs & Acting Governor Claud Severn - 1922 [5-7] — Page 328

CU

185

SURVEY REPORT

11

282

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This is to certify that at the request of Messrs, Low, Bingham & Matthews, Chartered Accountants, Hongkong, we, the undersigned, Carmichael & Clarke, Marine Surveyors, have assesed the Market value of the Steam Lanches "Fai Ting" (ox "Shun Fat"), "Kwong Shun" (ex "Willing") "Fai Ha" (ex "Kwong Kong"), and "Fai Tin" (ox "Shun Hing") as they now are in service in Hongkong harbour and have approximated their market value in December, 1918 as follows:-

Fame of Launch

"Fai Ting" (ex "Shun Fat") "Kwong Shun" (ox "Willing")

"Fai Ha" (ex "Kwong Kong")

-

"Fai Tin" (ex "Shun Hing")

Prosent Market Value

$14,000,00

$14,000.00

$13,000.00

$13,000.00

In approximating the value of the above launches at the

ond of 1918, we consider the market value for such launohos would have been fifteen per cent (15%) more than now and that they have

value

since depreciated on that five per cent (5%) per annum. Their value in 1918 would therefore have bben as follows:-

Name of Launch

Present Valu

Approximate value in December 1918. (Presont value plus 5% depreciation per annum for the last 3 years plus 15% higher value in 1919).

"Fai Ting"

(ex "Shun Fat"}

$14,000.00

$18,400.00

"Kwong Shun"

(ex "illing")

$14,000.00

$18,400,00

Tai Ha"

(ex "Kwong Kong"]

$13,000,00

$17,300.00

"Tal Tin"

(ex Shun Hing")

$13,000.00

$17,300.00