Tientsin, Shanghai and Weihawei (Weilanwei),
to discuss the profit and loss figures,
The profit and loss account is as follows.
Revenue: $36630.74
C.P.O contribution: $7376.08
Total: $44006.82
Expenditure: $35110.98
Net profit: $8895.84 (or a small profit)
We should propound this scheme to C.P.O Treasury and F.O.
The Hong Kong Government's loss is $44006.82, with a 20% Military Contribution of $8801.36, resulting in a net loss of $36205.46, but the overall result is a small profit.
The weak point is that the agencies at Shanghai and Tientsin will probably object to continuing to bear the loss, including the amount necessary for the C.P.O contribution.
I would suggest removing the military contribution, which is borne from Imperial funds, to make up the loss of $5000 per annum.
This will avoid the question of changing the military contribution again, which will almost certainly be raised in connexion with the quinquennial review.
It will also be remembered that the F.O. is averse to increasing the postal rates.
(28522/08)