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paid only on the net profits, if any, derived from the Agencies. In calculating the profits the Agencies must be regarded as a whole, i.e. the deficits occurring in these Agencies which do not pay their way must be deducted from the profits accruing from other Agencies.
4 The point raised in para 4 of the despatch with regard to the transit charges over the Siberian route is being referred to the G.P.O.
5 Lord Elgin will be glad to receive an answer to this letter at their Lordship's early convenience.
I am &c
Sun Joh. 22.11.97.
To Thank
with
Anod!
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8 Fan: gos.
dinated to forward a copy of a despatch from the Governor of Hong Kong with regard to the British Postal Agencies in China together with a letter which has been addressed to the Treasury on the subject.
2. His Lordship will be glad