CO129-481 - Governor Sir Stubbs - 1923 [8-12] — Page 193

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Confidential.

41392/23

Sir,

DOWNING STREET,

28 August, 1923.

In reply to your letter of the 3rd instant as to the proposed new 1,200 feet Graving Dock at Hongkong, I am directed by the Duke of Devonshire to inform you that he has telegraphed your proposal to the Governor of the Colony and has recommended it to his careful consideration as offering great advantages not only to the Colony but to the whole pire.

A telegram has now been received from the Governor stating that while he fully agrees as to the importance of the proposal, it requires very careful consideration. He points out that the Colony will need all its balances to finance its own requirements in view of the large schemes now in hand and that it will almost certainly be necessary to raise a loan, on which it might be necessary to pay interest at 6%. lie points out that there would be a considerable disparity

C. PAUL CHATER, C.M.G.,

between