Sessional_Paper_1928 — Page 5

HONG KONG.

BRITISH EMPIRE EXHIBITION, WEMBLEY, 1924 AND 1925.

No.

1 1928

HONG KONG, 16th August, 1927.

SIR,

1. We have the honour to submit herewith the final accounts of the Hong Kong Section of the Wembley Exhibition. Payments dealing with both years continued to be made and received into this current year, and the closing of the accounts and the submission of this report have been delayed in consequence.

2. The accounts for 1924 and 1925 are submitted separately. For the first year on an original total estimate of cost of $550,000 it will be noted that there remains a balance in hand of $503.05.

The estimate for the second year was calculated in Sterling and £25,000 was voted for expenses; in addition a repayable advance of $100,000 was made for financing the business side of the Section. A total sum of $216,500 on expenses account, plus $100,000 on Trading Account was received by the Treasurers, Messrs. Lowe, Bingham & Matthews, from the Government, and after refunding the advance of $100,000 (of which $20,000 was paid in July 1927 after the accounts were closed) there remains to the credit of the Government a sum of $2,501.47 with interest accrued.

3. Two matters call for special comment. Hopes were entertained that the Hong Kong Buildings would at the close of the Exhibition be saleable perhaps as a part of a new enterprise to continue Wembley, perhaps to the London & North Eastern Railway, whose siding they adjoined. Neither hope was realised and Wembley provided such a mass of material to dispose of, that nothing could be done with the buildings even as a housebreaking proposition. The Hong Kong Section stood on ground which was not British Empire Exhibition property but was held on short lease from the Railway and our sub-lease conditions required that the structures should be removed and the ground restored to its original condition within 6 months of the close of the Exhibition. In the circumstances it is even fortunate that during 1926 we were able to hand over the "Street" and the liabilities to the liquidators of the British Empire Exhibition at no cost. The hutments in which the contingent was housed were on a different footing: the con- tract was a hire contract under which the buildings as they stood finally reverted to the

contractor.

The second point concerns a suggested subvention from British Empire Exhibition Funds of £1,700. This was an offer conveyed through the Secretary of State on the eve of the departure of the contingent from the Colony: and was entirely outside the Estimates.

The Honourable,

THE COLONIAL SECRETARY,

Hong Kong.