530
Sir John Pender, the Chairman of this Company, having learned that a strong
still exsick on the part of some of the feeling "Naval Authorities at home in favour of
a
direct cable, has again taken the subject into consideration, and has instructed me to ascertain whether the Hongkong Government
shares these views.
5
of
Although the writing Communication have been found aniply. sufficient for commercial purposes, my Directors fully recognise the importance, in
a
political sense,
of a live of telegraph
which shall be entirely out of Foreigor Control,
- prepared, for the furtherance
and are now
of this object, to accept a larger share of the cost and risk than they
to do.
were
formerly able
The estimated yearly cost of such. cable is estimated to be £30,000 to cover
Interest on Capital, Anvortisation, and, Working expenses. Of this amount the Company formerly prepared to bean £10,000.
rvas
leaving
/ pat :
leaving £20,000 per amium to be provided in the form of a subsidy by the Governments
interested.
But, for the reasons
• given above, I am instructed to date that the Company would
be prepared to accept a reduced
subsidy of £15,000 per annum,
of which amount the Straits Settlements and the ompenal Goocomment might perhaps, contribute a substantial proportion say one half.
I am instructed to add that I thought hastilities had broken out the cables might probably be cut, up to that: time the communication by the direct cable would be fully controlled by British Authorities, whilst the present cable, which lands in French Territory might be under Foreign Control for a long period before
actually declared. I have
war Avao
(Signed) Walter Judd.
Manager in Chria,
Castern Extension Australasia ofhina
Telegraph Company Limited.