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

5

Defence Conentation.

Kothary

Revenue

revenue

This is paid, not on

figure, but on the Rany cast

lers Ray cards expenditure

as voted.

Thus any renewal actually made is deducted from venue assessed to contribution.

Railway

I

tee no means under present ordinance wherely.

renewals fund could excape contribution my more then the present "defrenation" reseve,

newals were met out

a

If we wal

mat just on

of

the

frund

Colony votes, the residue of "sperine

enfenditio", man in fort capital expendition,

a

direct

7

woned write disallowance

railway revenue.

مه

a

deduction from

I thanks

© If the fund were held by the thery, both interest earned & propt

wire tment's wond

be for receipts of the Rary & the fore assess. while the fund is part, in effect of the Colony's balance the profit is not assessed,

There is also the point of uniformity with the Chinese section. If it is desired to preseve this uniformity work in the Rary account's themselves the proposed renewals fund could thes fround also be held in preference

له

شما

the

Colony's

in

hands snot "the Railway accounts.

We might

Umate

thear position & suggest

that the fund might be set up

simply

as an earmarked face fake Colony's in fliis

а

under

than annual

the folly, procedure i contatations to the fund the povided to yo

by

defarate sub-division of the Railway Lead, beeing the amount fronded being

the

سمرق

fromsion

the loft contribution a life basis of all wasting assets less the