Copy.
COLONIAL TREASURER.
Your Excellency,
Enclosure No.2.
25
Five items of the Schedule to the Hong Kong
Dollar Loan Ordinance No.11 of 1934 now require amending, and,
as Your Excellency has directed under Section 3 (2) that certain transfers be made, the resolution I am about to move is now
submitted for the approval of this Council.
Item No.1
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The Aberdeen Valley Water Scheme has now been completed at a total cost of $2,555,702.78 and this item can now be reduced from $2,576,000 to $2,555,703 shewing a saving of
$20,297.
Item No.2 - Shing Mun Valley Water Schemes. The total amount allocated is $10,382,000 split up into 1st and 2nd
Sections.
The first section is now completed costing $4,136,765.59 of which $3,500,000 was met from the old Public Works 6% Loan and the balance of $636,765.59 from this loan.
in the second section Preliminary Works
at $36,718.84 and Filters at $120,045.23 are also finished. The Second Cross Harbour Pipe is now estimated to cost $250,000 as against an original estimate of $375,000. The estimate for the Gorge Dam of $9,200,000 can be reduced to $9,000,000. Ultimately it is hoped further reductions will be possible but in the absence of the Resident Engineer it is not considered prudent at this stage to make any further alterations. The total estimate of $10,382,000 can be reduced
by $338,469 to $10,043,531.
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Item No.3 Vehicular Ferry. The revised estimate amounts to $1,930,000 an increase of $30,000 to cover the cost of
caissons at the ferry piers.
The
Item No.7 - Redemption of 3% Inscribed Stock. amount required amounted to $3,864,943 a difference of $464,943
over
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