CO129-526-7 Proposed vehicle & passenger ferry for Hong Kong Harbour- plans of the development of the... 22-4-1930 - 22-4-1930 — Page 29

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adopting the new plans would

amount to £48,000 viz., £49,500

necessary for renewals and re-

construction on a basis of the

existing system as against

£97,500 on the basis of the

proposed re-organisation. The

Officer Administering the

Government has no reason to doubt

that the ferries whether conducted

by Government or leased to companies

will produce ample revenue to pay

interest and sinking fund on

the capital expenditure, and in

his opinion, it would be false

economy not to proceed at once

with the larger scheme.

The Harbour Engineers have

already gone ahead with the plans

for the new piers and it would

be possible to let a contract in

July