CO129-526-7 Proposed vehicle & passenger ferry for Hong Kong Harbour- plans of the development of the... 22-4-1930 - 22-4-1930 — Page 32

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Minute by Sir J. Campbell.

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32

The scheme is one technically within the scope of

the Act. The objections I see are:-

(i) that it is, to the extent of roughly half,

a replacement scheme, and not a scheme of development.

(This assumes that wharves only are constructed).

(ii) that the proportion of the expenditure to be

incurred in the United Kingdom will--probably--be small.

That is not a vital consideration; but it will

naturally influence the Colonial Development Advisory

Committee to some extent.

(iii)

inasmuch as the reasonable anticipation

is that there will be ample revenue to pay

the loan charges, and as the construction period

will be short--say two years--the maximum

assistance which the Colonial Development Advisory

Committee are likely to give would, I think, be

somewhere in the nature of a free grant of the interest,

on half the loan, for a period of two years--with

possibly some slight margin to allow for contingencies,

etc. This works out to-say-£ 4300. The total grant

is not likely to exceed-say-£ 4500 or £ 5000.

2. That assistance is, however, worth having.

3.

I suggest that we should ask the advice of the

Crown Agents, and meantime that we should consult Sir

Basil Blackett, semi-officially.

It would be

inadvisable to hold out any hopes of aid until

we had ascertained that the application had a

reasonable chance of succeeding.

rather on the border-line.

The 11th: June 1930.

In my own view, it is

(Signed) J. CAMPBELL.

11. 6. 30.