2
-
229
amounts to 6,752,715 towards which the Imperial
Government is contributing £100,000, or say
$989,783, leaving a sum of $762,932 to be found
from surplus balances. Of this sum $700,000 is
the estimated cost of that part of the Shing un
Scheme represented by the cross harbour pipes and
the Garden Reservoir in Hong Kong. This part is
in abeyance on the orders of Sir Cecil Clementi and
if the Aberdeen scheme is approved, will presumably
remain in abeyance until the Aberdeen scheme is
completed.
Deducting this $700,000 a sum of only
$62,937 is required from surplus balances to
complete the remainder of the authorized loan works.
The loan would have provided more than suflicient
for these works, had the full amount of the expected
contribution been received from His Majesty's
Aerodrome Government towards the cost of the Adericon site.
4.
No provision has been included in the
estimates of expenditure for buildings on the
Aerodrome site. Funds will remain to be found for
the erection of the buildings required for
commercial aviation, as and when such buildings
become necessary. The total cost of a modern
aerodrome has been estimated at $3,400,000 and
the cost of such a scheme makes it entirely
impracticable except from funds to be provided by
a new loan. The present prospects of commercial
aviation do not appear to me such as to warrant
expenditure on this scale. It will be necessary to
begin on modest lines with the minimum of buildings
required and it is anticipated that such expenditure
as may be necessary on this account can for the
present be met from revenue.
5.
No existing loan funds are available to
mect
Page 220Page 221
No comments yet.
Private notes are available after approval.