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can be substantiated by the owners' books, which books the ownere are prepared to produce for inspection to the Government at any time.
We enclose herewith working accounts of the steam- shipe Telemachus", "Pheumpenh", "Haimun", "Brisbane", "Wollowre", "Kanapouri", "Castlefield", and "Patriot",
From a perusel of such working accounts it will be seen that when the remuneration proposed to be paid by the Government is placed against the working expentes, the result is a very substantial monthly loss in each individual case.
Unless the Government are prepared to very substan- tially increase the remuneration, bankruptcy or liquidation will be the inevitable outcome.
From a perusal of the working accounts, the result appears to be as falows:-
H
H
8.8. "Telemachus* e monthly loss of 3,211.65 S.S. "Pheumpenh"
S.S. "Haimuın"
S.S. "Brisbane"
S.S. "Wollowra"
1
M
84,745.73
M
$2,849.69
#
.
$ 997.00
.
S.S. "Menapouri*
A
M
$ 948.00
AMINT NË STango and to ssoivisa sit
.JASMITISVOD
S.S. "Castlefield" "
8.S. "Patriot"
£ 595.78
m? not tog diply asces, ko jam tad to querors to stay dinitrag den and no PC bas,soivien misdeed
de noites wit
$4,295.50
to 1:
-
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+
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a very substantiel loss in view of the requisition of the s.8. Vollowrs.
The owners desire us to represent as strongly as
possible to His Excellency the Governor, the vital necessity of
propounding a new scheme whereby a very much higher remuneration
is allocated to the omers, and desire us to point out that it
is most inequitable that the shipping trade of this Colony
should be selected as the only industry to be taxed, It is well
known and has often been pronounced by His Excellency the
Governor that the shipping at Hongkong is the life blood of the Colony, that without shipping this Colony cannot exist.
The owners feel certain that His Excellency will appreciate the extraordinary competition which British shipping