February 17, 1900.)
might be used to deprive passengers of the means of self-defence and to leave them at the mercy of pirates.
It wants very strict limitation.
CHINA OVERLAND TRADE REPORT.
R-venue of AdministrationA
Words.
1889
2,029,149
328.490
1890.
2,111,456
338,394
1891,
.... 2,250,074
354.749
Chamber of Commerce and Manufactures,
1892.
2,300.823
364.196
(Incorporated by Royal Charter 17-3).
1893
2,867,353
376,237
Glasgow, 20th December, 1899. | 1894..
2,190,102
347,728
1895,
2,195,916
358,724
2,180,158
353,683
2,370,013
370,428
CABLE RATES TO THE FAR EAST,
Dear Sir.-I am to acknowledge receipt of your printed communication of datë 8th October respecting the above, and to inform you that it was submitted to and carefully considered by the Directors of the Chamber.
The Directors felt that as the Chamber had only recently taken action with a view to the reduction of cable rates between this country | and India and the Far East, it was scarcely ex- pedient so soon to approach H.M. Government or the cable companies concerned, and therefore, while expressing cordial sympathy with the action by your Chamber, was instructed to write you to that effect; at same time to send for the information of your Chamber the en- closed print of a letter and relative memoran. dum received from the vice-chairman of the Eastera Telegraph Co., Ltd, in which it is stated that the telegraph companies are willing to consider any offer which may be made for the reduction of tariffs.
This letter and memorandum have been for. warded to the Bengal and Bombay Chambers of Commerce and have by them been submitted to the Indian Government, but so far I have not heard the result.-I am, dear sir, yours truly,
(signed) WILIAM H. HILL, Secretary,
R. Chatterton Wilcox, Esq., Secretary, Cham-
ber of Commerce, Hongkong,
GLASGOW CHAMBER OF COMMERCE.
[COPY.]
The Eastern Telegraph Co., Ltd., Winchester House, 50, Old Broad Street, London, E.C., 8th June, 1899. J. Galloway Esq., President, Chamber of Com-
merce, Glasgow.
Sir,-Referring to our interview of the 1st instant, I now enclose copy of a memorandum which has been prepared with regard to the Indian Tariffs. This memorandum can be freely used, and it has been submitted to our partners, the Indo-European Telegraph Co.
I can only repeat that these companies are willing to consider any offer which may be made to them by the Indian Government for a reduction of tariffs, and are equally prepared to beur a share of and loss of revenue which may be caused by the reduction required.-Yours faithfully,
(Signed) J. Denison-Pender,
Vice-Chairman.
2nd June, 1899.
MEMORANDUM RE INDIAN TARIFFS.
1896. 1897. | 1898..
|
For some years past the companies carrying the traffic between Europe and India have been memorialised to reduce the Indian rate.
The companies have always expressed their willingness to reduce tariffs whenever experience Las shown that a natural expansion of traffic has taken place, and is likely to take place, by a tariff, and have always been, and are now, will. ing to take a fair share in any reduction of tariff, if the Government concerned would bear a proportion of the actual loss of revenus, companies not only bearing a share of the loss, but undertaking the extra expense of carrying any increased traffic.
the
The reasons which have influenced the com- panies with regard to the Indian tariff hare been as follows
2.275.371
111
7.-A deputation waited on the Chancellor owning the telegraph lines of the Exchequer in July last, when the views - between India and Europe.
and wishes of those interested, in India and the East, were fully explained and an assurance was given that these would be laid before Govern- ment and, whether the admmitted grievances are to become the subject of enquiry by a Royal Commission, or a Committee of the House of Commons, or whether Government will at once endeavour to improve the position by negotia- tion with the "telegraph "companies, failing which a linking up of existing international land lines might be adopted, it is for the Im. perial Authorities to decide, but the Ceylon Chamber of Commerce relies with confidence on your countenance and support being given to such action as shall be for the well-being of the best interests of the colony.—I have the
(Signed) F. M. MACKWOOD, honour to be, sir, your obedient servant,
Chairman,
365,019
2. In all the correspondence which the com- panies have had with the merchants, who are the actual nsers of the telegraph, we have never had a single application for a reduction of tariff, but we have had applications to be al- lowed to send at a higher rate, in order that one person's telegrams might have the preference over those of others.
1.-The traffic between India and Europe has been shown by experience to be a non-expansive one, and the companies consider that it would require a very large reduction of tariff to materially increase the actual tariff carried. The following figures will speak for themselves. The tariff was reduced to 4s. per word on the 1st July, 1886:-
Words.
1885......... 2,158,521
1886.
1887.
2,159,507
2,134,002
1888...་་་་་་
2,110,163
Revenue of Administrations
owning the telegraph lines between India and Europe.
£394,270 374,121 342,271
334,129
3.-The perfection to which the system of coding telegrams has been brought practically reduces the charge of 48. per word to India to about 21. per actual word sent by the merchant, a figure that cannot be called dear.
Ceylon Chamber of Commerce
HUMPHREYS ESTATE and fi- NANCE COMPANY, LIMITED. 4-If the traffic were to increase through «
The following is the report of the governing reduction of rate so as to reconp the companies
directors for the year ending the 31st Decem for the total loss made, it would necessitate the laying of extra cables between Great Britain | ber, 1899, for presentation to the shareholders and India, a single line of which could not be at the fourteenth ordinary annnal general meet. laid under a million and a balf of money, and, ifing of the Company, to be held at the registered this large increase took place, the companies offices of the Company, 38 and 40. Queen's Road Central, at noon, on Monday, the 19th Febru. would have to face this additional expenditure of capital with the consequent annual charges ary, 1900, for interest, maintenance, and working. The Ceylon Chamber of Commerce, Incorpo.
rated, Colombo, 19th December, 1899. The Secretary, Chamber of Commerce,
Hongkong,
Dear Sir, I have the pleasure to hand you for your information a copy of a letter addressed to the Secretary of State for the Colonies by this Chamber re Reduction of Cable Rates.—
Yours faithfully,
(Signed) R. W. Burns, Secretary.
CABLE RATES.
The Ceylon Chamber of Commerce, Incorpo- rated, Colombo, 26th September. 1899. The Right Honourable Joseph Chamberlaio,
Her Majesty's Secretary of State for the Colonies.
To the shareholders of Humphreys Estate and
Finance Company, Limited.
Gentlemen, We beg to lay before you our report and balance sheet for the year ending 31st December, 1899.
The net profit for that period, including 8519.03 brought forward from last account, amounts to 832,373.83, out of which we propose to pay a dividend of 5 per cent. for the year and carry forward 84,873,83 to the credit of new proft and loss account.
The accounts have been audited by Mr. Ful- larton Henderson, who offers himself for re- election.
Joux D. HUMPHREYS & Son,
Governing Directors. Hongkong, 7th February, 1900.
Balance Sheet for the Year endixo dist December, 1899.
$ a. 100,000.00
LIABILITIE Capital account, 55,000 shares of $10 each Debentures, 200 of $1,000 each Fund for equalization of dividend
Sir,-As you are doubtless awaro, there bas been, during the past few years, a growing agitation over the question of telegraph cable rates between the United Kingdom and the East, and the necessity for the reduction of Unclaimed dividends
them.
2.-The Ceylon Chamber of Commerce nu 15th June last passed the following resolu tion "That this Chamber considers the time has now arrived when the cost of cable messages between Great Britain and the East should be reduced, and they recommend that combined action he taken in conjunction with the Chambers of Commerce in India, the Straits sad China, in order to accomplish it."
3. Since then the Chambers of Commerce of Hongkong, Singapore, Rangoon, Calcutta. Bombay, Madras, and Upper India, have ad- dressed the Imperial Goverument or its re. presentatives, urging that steps be takou to bring about a reduction in rates, and the Ceylon Chamber desires to impress upon you the im. portance of this question in the interests of the Empire as a whole.
4-The enormous importance of commercial interests to the State and to the community. renders it of paramount necessity that every. thing that presses on fiade and industry, and everything that hinders progress, should be removed.
The exorbitant charges made for cable messages are of this nature, and for a tax upon the foreign trade of the Dependencies of the Empire, altogether disproportionate to the maximum gross profits of that trade, and to actual cost of the services.
Fixed loans Cash on deposit Profit and loes
|
200,000.00
25,000.00
277.00
49,208.60
21,942.54
32,473.83
(878,801.97
AMETE.
829,626.72 8,181,29 700.00
Amount invested in property Rents due and accounts receivable Office furniture Cach in Hongkong and Shanghai
Bank Cash in band
$40,217.10
76.80
40,293.96
#878,801.97
PROFIT AND I om ACCOUNT. Dr.
To general charges, Crown' rent, Bre insurance To repairs
To interest
To governing directors and auditor's fees, and allowance for clerks and offics rent To dividend of 6 per cent. on $50,000.
To balance to new account
CT.
By amount carried forward from 1998 By renta By commission and profits on lavestments By transfer fees
3.
7,810.80 8,994.80 13,103.21
8,100.00
£7,500.00
4,873.83
$60,382.64
$
+
619.03
41,358.35
24,384.26
126.00
$60,382.04
5. The present rate between Ceylon and England is Rs. 3.10 per word, and practically no reduction has been made in rates for many years, notwithstanding the greater perfection Two collisions occurred on the 5th inst., at of scientific appliances, which ought to contri- Shanghai, when a launch fouled the ram of the bute towards cheapening the cost of telegraphy. Russian gun-boat Gremíastchy. The gun-boat 6.-It is belierød if a very substantial reduc- came off beat. The second was the colliding tion were made in charges for messages it would | between a Japanese collier and a Japanese gun. be followed by a large increase in messages; | boat resulting in slight damages to both vessels. sufficient to cover such concession.