54403/8/51
Dear Sharp,
देह
COLONIAL OFFICE,
Sanctuary Buildings,
Great Smith Street,
S.W.1.
23 August, 1951.
cheme No: D.1066. Purchase of
Lorries for Vegetable wholesale Marketing scheme, Hong Kong
Flease refer to C.D.W. (D) No: 2038 which deals with the replacement of part of the lorry fleet of the Hong Kong Government Vegetable Marketing Organisation by means of a rant of £9,575 and a loan of the same amount.
At our meeting on the 17th May you were unable to agree to any part of the assistance being in the form of a grant, but suggested that either a loan by the Government of Hong Kong to the Organisation, or a loan of £18,750 from Colonial Development and welfare funds would be ap; ropriate.
The Governor was informed of the decision; and has since stated that, although the financial position of the Organisation has improved recently, it has substantial liabilities to the Hong Kong Government, and he does not wish to add to this commitment. He is however prepared to defer settlement of these liabilities in order to enable the Organisation to repay the loan of 9,375 issued under cheme D.1066. He has therefore arranged for the immediate repayment of that loan, which was not due for settlement until the end of 1952, and has asked for a fresh loan of 18,750 from Colonial Development and Welfare funds, that is the re-loan of the 9,375 he
He proposes to repay, with an additional loan of £9,375. assumes that this new loan would be free of interest, and he would be prepared to arran, e for repayment before the end of 1955.
R. L. SHARK.
TREASURY
/These
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