CO129-526-10 Water supply- Shing Mun Valley Scheme with plans of the dam and reservoir sites 8-5-1930 - 10-9-1930 — Page 28

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Wage

885,000 6,200,000

x 100 - 141%.

45,000 4,550,000

x 100 = 1%.

(6) What circumstances have prevented the work from being put

in hand before?

Due to lack of funds, labour troubles of

1925 and also to the fact that such a large extension

to existing works was not required before 1925.

(7) Proposed method of financing capital expenditure contem-

plated. State what sum, if any, is included in respect

of interest during the period of construction, not

exceeding five years; the term of any loan; and the

suggested method of repayment.

By loan. If the total amount of the loan

were $6,000,000, it would be necessary to provide

$300,000 per annum on account of interest and

$150,000 per annum on account of sinking fund to

repay loan in 25 years.

(8) The advantages to be derived, and the additional yearly

net revenue estimated to be earned, as a result of the

proposed expenditure.

It is not merely an advantage but an urgent

necessity to complete these works as soon as possible.

The present storage in Hong Kong and Kowloon

is quite insufficient to maintain an adequate supply

during a year of low rainfall as was proved last year

when