that, as
the
as the German Mail Packets on line to China are to perform a speed of
12 Knots
per
hour, the Peninsular and
Oriental Company might perhaps be
induced to increase their speed
between
England and China from
in consideration
of a concession being given to them
to
run
between
11.20 to 12 knots
under your contract
and
On this point I may state that
I have already offered £25,000
to the company
as an
abatement
of the Contract being
for seven years;
they
now
propose
a
reduction
in consideration,
& a term made for two instead
of ten
years,
and it will be observed,
on reference to the Abstract of Tenders, before Your Lordships, that the
speed
demanded by the Hong Kong Government is
offered by the Peninsular and Oriental
Company in Tender No.2,
but at
an
increased price of £20,000
per
year,
which
I have already offered
as the Con-
trac-
tors
for the abatement of £10,000 a
year
and £625
per
annum
in their No. 3 Tender, I think they could
not reasonably be expected to give gratuitously
the accelerated speed.