CO129-485 - Governor Sir Stubbs - 1924 [8-12] — Page 38

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than an older boat) My formulation of a proposition is:-

THE HONGKONG GOVERNMENT finance me for a period

of ten years, with this amount tree of interest.

1

During such period of ten years, you are to act

as Trustee for the Hongkong Government, and all my shipping affairs, surrounding the vessels financed by the Government are to be under your supervision and control.

The steamers as usual, will be kept fully insured,

and such policies are to be deposited with you.

As a matter of fact, I believe to keep the position entirely free from all other outside matters it

would be by far the best to create a small British Limited Hongkong Company, to control such vessels, and in this manner at all times the Hongkong Government would be protected.

For your general idea of tonnage, and how it is discussed, I enclose you the particulars of a few vessels

that are passing under our notice, from the various agents

in London, Australia and elsewhere.

S.8. "Camira" this steamer owned by The Adelaide

Steamship Co. of Australia, is now open for sale, with dead prompt delivery in Sydney: I think she could be secured

for sterling £10,000.

She is of the carriage that I need, though a shade

on the old side, and with rather a deeper draft than we care

to have on this coast; but, that is counterbalanced by the

cheapness, and with my experience, I should be able to pick

her trips, etc., to suit the vessel.

The cheaper the vessel, the cheaper her Insurance

premium etc. though her overhead working expenses are the

same as a new vessel.

Should the Hongkong Government give me this help- ing hand, I would much prefer to take a quiet trip Home, and choose my own three (3) steamers, so I know what is

wanted