CO129-475 - Governor Sir Stubbs & Acting Governor Claud Severn - 1922 [5-7] — Page 329

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Those launches we understand, comprised part of a fleet

of sixteen launches employed by a local company in the Yaumati Ferry Service which was suspended abruptly in December 1918 at the instance of the Government and we are of the opinion that these launches being deprived of constant employment and thrown on the local market when there was no demand for such, and the owners having no other employment nor means of disposing of them, suffered a direct loss in proportion to their value, which loss we approxi- mate as follows:-

Name of La uch

Value of Lamch in 1918.

Lose sustained on account of failure of employment and no market to dispose of launch.

"Fai Ting"

(ex "Shun Fat")

"Kwang Shun"

$18,400.00

$5,000.00

"(ex Willing"}

$18,400.00

$5,000.00

"Fai Ha"

fox "Kwong Kong")

$17,300.00

$4,800.00

"Hai Tin"

(ex "Shun Hing")

$17,300.00

$4,800.00

In approximating the total loss sustained on the sixteen la che s all of which wore similar to the above, we consider the value should be taken at an average of the above, viz, $17,850,00 which for sixtoon launches would total $285,600.00.

The average

loss per launch would be $4,900.00 and for sixteen launches $78,400.00.

(Sgd) Carmichael & Clarke.

Marine Surveyors.

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