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idmy
Code Telegram
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116
FROLI HONG KONG
FROLI: Governor (Sir G. Northcote)
TO:
Secretary of State for the Colonies.
D. 20th June, 1941.. R. 21st
No. 568 Confidential.
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09.10 hrs,
Your telegram lio. 474, I regret delay in replying but certain prior investigations were necessary. Present outlook for 1941/1942 is that allowing for (1) additional revenue from new taxes already imposed or impending and (2) commitments not reflected in the estimates including over $HK1,000,000 for still unforeseen expenditure, deficit for the year may now be put at SHK3,000,000. Against this may be put surplus revenue over expenditure 1940/1941 of HK5,000,000 showing credit balance for two years of $IK2,000,000,
Cost of four Bangors now being built here is
put at present rate of wages which are likely to rise at $HK8,500,000; about 75; 1.e. $HK6,375,000 would fall to be paid this year. Estimates Head 320 subhead 1 provides $HK4,700,000 leaving $1,675,000 to be found. In these
circumstances and in view of the Tact that tunnel scheme and food reserves should be completed in this year Legislative Council agree that taking this and net financial year together the colony should undertake the cost of all four ships.
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