Revised by the Kwangtung Government 'The project for the construction of the 'Whampoa Harbour, which was announced early last year, has been revised by the Kwangtung' Provincial Government in order to hasten lis completion to provide an outlet for native goods in the southern proton, While the original project provides for the construction of "a harbour with an area of 250,000 mow at a total outlay of $80,000,000, It has now been planned to reduce the area {to 120,000 mow and the total cost to approximately $40,000,000.
Mr. Tseng Yang-fu, Mayor of Canton, who is concurrently director of the Whampoa Harbour Construction Commission, has recently made several trips to Whampoa to. in-comprises the improvement of the river channel, the building of dykes and wharves and the completion pleted by the end of next June, when the second -slage of work will be started.
"The Whampoa Harbour Construc-lon Bonds" amounting to about $6,600,000, itis learned, wilt be issued. by the end of this month, approval for their issuance having' been obtained from the Ministry of Finance some time ago. Arrangements are being made between the harbour: commission and the three government banks, namely, the Central Bank of Chins, the Bank of China and the Bank' of Communications, to mortgage part of the bonds for:
loan. of $3,000,000 to meet the immediate need of funds for the eonstruction "work.
To raise the sinking fund for the construction bonds, a5 per cent. Customs surtax will be levied in Kwangtung, the monthly proceeds of which will be directly remitted to} the Ministry of Finance for custody.
For the expropriation of land a Land Price Fixation Committee is. being organized jointly by the Bureau of Land Administration, the Bureau. of "Agriculture and Forestry, the Canton District Government, and the civie bodies in Whampoa. Its function is to fix impartially: the price of land to be expropriated for the construction of the harbour. It is estimated that at least 0,000 mow of land hag yet to be expropriated at an approximate cost of $2,000,000, WHAMPOA TO BE JOINED TO,
Text read from the printed page and cleaned; old type leaves the occasional error.