CO129-539-12 Loans for public works- military finances 26-2-1932 - 7-3-1933 — Page 13

onginal.

(18) on 93622/32

92622/32

Sir,

13

7 Karch

3

*

I am directed by Secretary Sir Philip Cunliffe-Lister to acknowledge the receipt of your letter 16/Abroad/276(F.1.) of the 25th February

regarding the Hong Kong military contribution and to

request you to convey to the Army Council an

expression of his thanks for the concessions which

they have agreed to make in connection with the

basis of assessment of the contribution.

The Secretary of State is prepared to

accept the suggestion contained in the third para̸;raph

of your letter under reply regarding the rute of

allowance, in respect of capital expenditure met from

revenue, to be used in calculating the net receipts of recomised productive uncertakings. The principle that the realised profits from investments of general

revenue a'ould be subject to assessment to military

THE UNDER SECRETARY OF STATE,

WAH OFFICE.

contribution