CO129-483 - Others & Individuals - 1923 — Page 288

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$5,000,000 Hongkong ourrency, and the time to opmplete about

four years from the date of commencement.

4. The Company is anxious to proceed with the work as

quickly as possible, but in view of the large additional

amount involved, and its national importance not only to the

Colony of Hongkong, but to the Empire, feel that we should get

some little assistance from the Hongkong Government.

5. The method we propose is this:-

The Hongkong Government to place the necessary amount for

the construction of the dock during its construction, and for

a period of ten years thereafter on deposit with The Hongkong

& Shanghai Banking Corporation at Hongkong getting their fixed

deposit receipts. Interest will be paid at four per cent for

this deposit. We in turn will arrange with the Hongkong Bank

to advance us the money on terms to be arranged by us with

them. The Hongkong Government will therefore be safeguarded

as to the capital and interest of the loan.

6. We enclose a plan of our main Dockyard at Kowloon,

shewing the site of the proposed dook, and will be glad to

give you any further information on the subject that you may

deem necessary.

Sir Paul Chater and Mr. Dyer will be in this country

until early in October. Should you wish to see us on this

matter