CO129-534-6 Loans for public works 24-2-1931 - 11-8-1932 — Page 52

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52.

next year.

If however Your Lordship will approve of

further work on the second part of the Shing Mun Water

Works scheme proceeding, and of the gaol being paid for

from a loan, it may be necessary to arrange for the issue

of Treasury bonds, or for a temporary overdraft early

next year, and for a loan towards the end of the year to

provide funds for the additional works and to repay the

Public Works loan of 1927. In any event, a further

loan may be desirable for the latter purpose with a

view to securing money at a lower rate of interest.

12.

I enclose a statement, setting out our present

and anticipated liabilities, and indicating how these

can be met from surplus balances up to the end of 1932.

13. I may add that private companies are being

invited to provide ferry boats for the Vehicular Ferry

and I do not anticipate that Government will be called

upon to make such provision.

I have the honour to be,

My Lord,

Your Lordship's most obedient, humble servant

Live

Governor, &c.