Secretariat file 8/2526/48. Colonial Office 54403/8/49.
SAVINGRAM
To the Secretary of State for the Colonies.
From the Governor, Hong Kong.
Date
22 June, 1951.
No.
720
836
(22)
1948
@
1949
(1)
Your savingram 118 of 29th January 1949.
Colonial Development and Welfare scheme
No. D.1066 Purchase of lorries for Government Vegetable Marketing Organization.
The financial position of the Government
Vegetable Marketing Organization has greatly improved within the last twelve months and the organization is now in a position to discharge some of its liabilities, most of which are to the Hong Kong Government.
2.
In order to indicate the appreciation of this Government for the valuable assistance rendered, I am prepared to defer the settlement of these liabilities in order to enable the organization forthwith to repay the loan of £9,375 from Colonial Development and Welfare funds for the purchase of lorries which was not due for settlement until the end of 1952. I am arranging for immediate repayment.
3.
You are aware from my savingram 361 of 6th May, 1949 that it was only possible to buy sixteen diesel lorries instead of the thirty originally proposed under Colonial Development and Welfare scheme D. 1066 because of increases in prices of these vehicles. In my despatch 20 of 24th February 1951, I applied for further assistance from Colonial Development and Welfare funds, by way of a grant and a loan, for the
You were not able to approve this purchase of more lorries,
(5 application but indicated, in your savingram 497 of 26th May
1951, that you would consider making a loan of £18,750 unless this Government preferred to do so itself.
I have referred above to the liabilities of the
These amount to a market to the Hong Kong Govefrment. substantial figure and I have not hitherto pressed the organization for settlement in order to give it every opportunity to establish itself on a firm financial basis, The result has been that the market has in fact enjoyed a large interest-free loan from Hong Kong funds and I do not wish to add to this commitment.
5.
I would be grateful if you would now agree to a loan of £18,750 from Colonial Development and Welfare funds
This would amount to a for the purchase of more lorries.
re-loan of the $150,000 I propose to repay under scheme D.1066. I assume the new together with an additional loan of £9,375.
loan would also be free of interest and I would be prepared to arrange for repayment before the end of 1955.
RIH:TS
REGISTRAR OFFICE
29 JUN 195
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