320
$11,244,996 (see next column.)
The sum claimed by the Company included $10,883,498.00 for surplus lands.
The offer of the Government excluded any sum for surplus lands, which the Government contended were part of the undertaking of the Company, and consisted of various sums calculated alternatively on the basis of the profits earned or the dividends paid, with varying multipliers of 10, 16 and 18 years applied thereto.
The highest of such offers was the sum stated in the preceding column. This was exclusive of land in all cases,
In their amended claim the Company included $8,143,024.31 for surplus lands instead of $10,883,498 of which amount the Government agreed $537,200 was the value of certain lands they admitted were surplus lands. The Government also admitted the sum of $25,000, included by the Company in the sum of $10,366,566.35 under the head of property not required for prospective enhancement, and claimed by the Company in repayment of a deposit on a purchase of certain lands not completed on the appointed date. The sum awarded ($27,929,177) includes a sum of $351,354.31 in respect of certain lands required for the extension to the docks of the Binga- pore-Kranji Railway. The claim of the Company in respect to those lands was $364,954.31 which claim, with the exception of $13,000, being the difference between $361,954,31 and $351,354.31, the sum awarded was agreed by the Government,
Property not required for pro- spective enhancement
13,237,821.15
$72,927,813.15
Subsequently amended to-
Maintainable income
$33,461,420.00
Prospective enhancement
25,245,600.00
Property not required for pro-
spective enhancement
10,366,566.35
$69,076,586.35
Mr. Fraseri (late Secretary London Consulting Com- mittee).
£220 10 0
London Consulting Committee £6,919 4 5
Allowance for cost of re-invest- ment and loss of interest on re-investment.
$418,937
Annuity of £500 per annum and $6,000 or £600 for extra services.
$88,773.00 subsequently amended to £8,871 78. 3d.
Loss of profit for one year from July 1st, 1905, less $12 per cent. interest
Allowance
**
***
for re-investment, brokerage and stamps, 1 per cent. on claim
Allowance for recoupment of loss of interest from date of compen- Bation to re-investment
Annuity of £200 | per annum. (See next column.)
No offer was made by the Govern- ment.
$1,036,000.00
741,851.13
1,183,708.26
$3,261,562.39
The
After Mr. Fraser's death the offer of the Govern- ment was amended so as to show the exact amount due to him at his death, namely, £146 168. 10d.
This is stated in the Award to be about 11⁄2 per cent, of item No. 1.
321
Afterwarls amended to a general claim to cover brokerage and stamps of 1 per cent, on items of—
Maintainable income
Prospective enhancement
Items not required for pro-
spective enhancement
Surplus lands
and a further claim of 2 per cent. on aggregate award on the same items to cover loss of interest from date of payment pending distribution and re-investiment.
In original claim
$100,000,00
Government offered 1 per cent. amount
on
awarded for taking over the undertak- ing of Company.
This sum of $100,000.00 was disputed by the Government and eventually agreed at $37,865.
In addition to the amounts awarded the Com- pany claimed Directors fees from the appointed date to date of award at the rate of $22,500 per annum.
Consulting Committee, fees from same date at the rate of $9,450 per annum.
Secretarial, rent, office expenses in London and Singapore, $20,000.
No sum is included in the award in respect of these last three items.
Costa, charges, and expenses
of the liquidation of the Company.
Costs
$37,865
Noorder. Ques
tion to be men- tioned at a future
date.
NOT TO BE
THL TO NOISSIERED BOHLIM ATBY ALOHA
NE 8
OF CONTRAVIDOLOHA SHIVADO
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E E D
788 03