CO129-561-5 Loans for public works 10-3-1937 - 10-4-1937 — Page 7

4.

-

- 2

Explanation of items as above and in the statement

attached:-

Head 1. Work completed.

7

Head 2.

Subhead (a). Work completed.

(b)(1), (2) & (4).

Work completed.

(b)(3), (5) & (6).

Balance unspent

Head 3.

is inserted in column for expenditure

in 1937.

The total cost has been reduced to $1,915,603,80

and the balance of $7,636,86 is inserted for

expenditure in 1937.

Reduced from $4,400,000 to $4,000,000.

Head 4.

Work almost completed.

Head 5.

Work completed.

Head 6.

(a). Work completed.

Head 7.

Head 8.

Head 9.

(b) & (c). Balance unspent is inserted for

expenditure in 1937.

Work completed.

The revised estimate is now $1,100,00, owing

(a) to a wholesale market being provided for

and (b) to the enhanced price of iron and steel.

It will be observed that, although the total cost of these markets is $1,100,000, only

$1,025,000 is shewn in the Schedule, due to

the fact that the whole $25,000,000 is allocated.

The balance of $75,000 will have to be found from

P.W.E. in a later year or perhaps further small

savings on the other heads will suffice to make

up the difference.

This is now cancelled.

(SD) Edwin Taylor.

Treasurer. 4.3.37.