CO129-573-14 Kowloon-Canton railway- provision of a renewals fund 7-6-1938 - 11-10-1938 — Page 22

-2-

21

years,

then the contribution would amount to far more than then the contribut

the £100.

However, that is the accepted method of working

the thing and is probably due to the fact that renewals

is a more or less constantly going on service so that no

accumulating

one can say that the contribution will ever be left redundant

for the whole period.

HKL Halvati is

for freed

at forw

the int

Set if contig

It's fondly, act by

bams is used

Yours sincerely,

J.E.W. Horr

Hend

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