371
is contemplated from Manilla
4
to Singapore via Labuan and
Sara wall, but this will be
a question of additional Capital. The
of separate and
Company
have
an exclusive
oncession for 40 years from
geveral traffic
the Spanish Government, and the traffic with Hong Kong, to gether with the local haffe throughout the Group optslands, is believed by the Directors to
be capable of yielding ample Revenue. Although the trade of the Philippines is known
precise
to be important, no
Statistics in relation to it
seem to be available. The
enterprise, therefore, must in
some
degree possess
대
expernmental character, but
it has the recommendations
of not being a competitive
of the fact
one, as well as
that in the progress
Commerce the exclusive
-cession mmst.
of
con=
umst year by year.
throughout its entire term
be
expected to increase m value. The work is to be
completed for $297,000 by MWE W. J. Henley of North Woolwich, who is to take of 70,000, in
fully paid shares, and to
pay