CO129-553-9 Empire Air Mail Services- participation of Hong Kong in proposed development 11-3-1935 - 21-5-1935 — Page 73

C. 92622/32 [No. 22].

PROOF

No.

HONG KONG.

THE SECRETARY OF STATE to THE GOVERNOR.

(Sent 3.45 p.m., 18th October, 1933.)

TELEGRAM.

[Answered by No. C. 92622/32 [No. 24].]

CONFIDENTIAL. No. 90. Your despatch Confidential (2) of 18th July.* Defence Contribution Amendment Bill, Section 3, Sub-section 4. Intention of agreement with War Office is that annual rate of deduction of 5 per cent. should be allowed from 1933 in respect of any part of capital expenditure defrayed out of revenue in the years from 1915 to 1932 and a rate of 4 per cent. only in respect of any capital expenditure defrayed after 1932. Please submit redraft of this sub-section, see enclosures in my Confidential despatch of 7th March.† Sub-section 3 appears to require drafting amend- ment to include other undertakings already established.-CUNLIFFE-LISTER.

* No. C. 92622/32 [No. 21].

† No. C. 92622/32 [No. 20].

Straits Defence Con.-Gp. 6. 131/2963. 24. 8/34. (18298) M. & S. Ltd.

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