-cular affect the Civil Government of this Colony, are as
369
follows.-
(a.)
The question as to whether a continuous
bed of cement concrete is required under each line of tramway,
measuring 5 feet wide by 8 inches in thickness. In considering
this question it must be borne in mind that, over the greater
part of its length, the tramway will be laid upon land which
has been reclaimed from the harbour at a more or less recent
period. I enclose a tracing which illustrates the point at
1
Racings.
issue.
(b.)
The question of what profits should be
paid by the Tramway Company to this Government and in what
manner these profits should be computed. In connection with
this question of division of profits between the Company and
the Government, I would beg leave to draw your attention to
the amendments recommended by the Standing Law Committee, to
which amendments I have acceded, in regard to this question of
profits.
The net result of these amendments is
that this Government foregoes all Royalties for the first 10
years for the reason that the Government, by its amendments
to Clause 49 of the Bill, is compelling the Tramway Company
to lower its maximum fare for workmen from 3 cents for each
journey to 2 cents for a single journey and 3 cents for a
return journey.
I am of opinion that it is not desirable
that the interest on debentures should be disbursed for the
purpose of computing the net profits.
5.
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