97
--3--
RESULT OF THE INVESTIGATIONS OF THE SPECIAL COMMITTEE
We have carefully considered the Report in detail, tabulated
it, and sent copies of the tabulated schedules with a covering letter
and explanatory notes to the following, as representing the largest
employers in the Colony :-
ir. B.D.F.Beith, on behalf of Messrs. Jardine,Matheson & Co.Ltd. the Wharf & Godom Co. Ltd., and the Hong Kong Tramways, Ltd.,
r. . H. Bell,
r. R. . Dyer,
Mr. 1.T.Johnson,
on behalf of the Asiatic Petroleum Co. (S.C.)Ltā.,
on behalf of the Hong Kong & Whampoa Dock Co.Ltd.,
on behalf of Messrs. Mackinnon,Mackenzie & Co., and the P. & 0., B. I. and E. & A. Lines.
ir. F. R. Marsh, on behalf of the Hong Kong Electric Co. Ltd.,
Mr. T.H.R. Shaw, on behalf of Messrs. Butterfield & Swire
Taikoo Dockyard and the Taikoo Sugar Refinery.
The tabulated schedules referred to and the replies from
the various firms are attached, together with a precis of the same, and from the latter it will be seen that the consensus of opinion
is adverse to the recommendations of the Commission.
In applying the recommendations in so far as they affect
sterling salaries, it was seen that the dollar equivalent to be drawn would be slightly less than at present, assuming an exchange rate of 2/-, this rate, or one very near it, being the level on
which the Commission based their recommendations. On the face of
its recommendations we think it may be safely assumed that the recent fall in the dollar to 1/7, and under, was not foreseen by
the Commission.
In order to illustrate the variations caused by a violent fluctuation in exchange such as has been recently experienced, we will take the case of a married officer in receipt of a salary
of £1,000 a year, at present, and as
it would be at demand rates