CO129-511-13 Civil Aviation- proposals for experimental passenger and mail service 28-7-1928 - 28-12-1928 — Page 64

64

REPORT OF CONFERENCE

ON

AVIATION.

COMMERCIAL

(Held at Hong Kong 22nd and 23rd of May, 1928.)

MEMBERS.

MACAO.

Jose Cabral,

CANTON

Cheung Wai Jung.

Lieut: Portuguese Naval Air Service.

Brig-Gen.Chief of the Air Admin".

Cheng I Kam.

Secretary to the Canton Air Admin".

HONG KONG

R. Vaughan Fowler.

arrived at:-

The following subjects were discussed and conclusions

(1).

(a)

(b)

(c)

(a)

CAPITAL AND SUBSIDY .

It was agreed that the capital of the "Company" should

be $400,000.00 (Four hundred thousand dollars.Hong Kong).

The estimated Working Expenses of the "Company" were

investigated, and it was found that these would amount to $1,629,

300.00 (One Million Six hundred & twenty nine thousand, three

hundred dollars.Hong Kong), over the period of the first five y

years.

The estimated Income of the "Company" for the first

five years was investigated, and found to be $1,355,225.00

(One Million three hundred and fifty five thousand, two hundred

and twenty five dollars. Hong Kong).

The suggested Subsidy of $300,000.cc over the period

of five years, was based on these figures, as the possible loss

appeared to be $274,075.00 (Two hundred and seventy four thousand

and seventy five dollars. Hong Kong).