CO129-615-4 Harbour craft used by Hong Kong Government- financial arrangements 30-1-1948 - 12-1-1949 — Page 43

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All

(g) Small craft supplied by the Ministry of

Transport $3,187,000.

(3) Shipping Control Board $3.500.000

(1) Claims in respect of requisitioned material

$25,000,000

As follows:-

Total £72,730.000.

The position regarding these liabiliting is

Items (a), (b), (c) and (d) have been met but the total still remains in suspense and, in accordance with an undertaking given to this Council by Sir Mark Young, has not yet been charged to expenditore, The anticipated revenue surplus for 1947/48 of 830,000,000 will now be increased to $2,000,000 by generous gesture of R.H.D. iny inter alie, waiving repayment of advance of (92750,000). The further gift of 21,000,000 will increase the available surplus to $58,000,000. This will enable all remaining liabilities to be met from expenditure ish the enception or final, which is an approximate estimate of a Legsl liability which this Government must asEURS. So fer aS CAL be seen, liabilities only exist in the case në zvquisitioned ressels for damage or loss occuring during the prosion of requisitioning and since the Service Departaunts zero concerned, negotiations are proceeding with shoss Departments with a view to their seting these carvins. brier, apart from the fiacl item. the Collong can digataves its outstanding liabilities and sbor a balance of approximately $10,000,000.

2.

alen be made,

3.

A brief explanation of these liab der way

I should ba gied to deten of

have reason to hope efter diegvosiona unoitan telly that settlement may be reloczeh by deffion92 Mobius in she light of the abovo aasvOPE,

Copice sent

Tra22017

AdmiYolly

Graterul for urgent telegraphic reply,

Ministry of Transport

Air Micist17

War offi30.

BA

MF. D.D. Serpell, O. E. B ̧

MR. F. *etaub,

Mr. D. Haigh.

A

MV. Q.R. Cadras, M.C.

43

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