907,350 Against an estimated expenditure of (see above) 832,000
An excess of Tls. 75,350 or less than'@ per cent.: a large portion of which is due to increased cost of} steelwork owing to the War.
The contract with Yue Chang-tai was signed on October 21, 1914, and the Contractor taking fall advantage of the fine weather has made remarkable progress, so that on Jan-nary 18, 1915, only three months after signature of the contract, work was so far advanced that the question of adoption of granite facing was brought before the Works Committee.
The minute reads as follows We therefore have what may be/opinion would be universal. It should be remembered that the buildings now in course of construction should be of the best—of a type which may be copied by others—in fact, I do not think I can do better than conclude by quoting from leading article in the North-China Daily News" in March last, viz, "The Ratepayers are fully prepared to spend a large sum of money in accepting the major scheme of construction put before them last year, they bore witness to their recognition of the fact that they were bauding for all time, and to their anxiety to leave something behind them which should indeed be worthy of admiration and of the prestige of Shanghai."
Cuas, H. Goprrey, Engineer Surveyor.
Text read from the printed page and cleaned; old type leaves the occasional error.