PUBLIC RECORD OFFICE
Reference :-
TTEPEC.O. 882
سلسلسلتيليسيا
8
PUBLIC RECORD OFFICE, LONDON
ALLY WITHOUT PERMISSION OF THE BE REPRODUCED PHOTOGRAPHIC- COPYRIGHT PHOTOGRAPH—NOT TO
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forced by the general complaints, not only on their own side, but on this, the London Committeo had no other course but to point out in clear and forcible terms the absolute necessity of immediate steps being taken to prevent what appeared to them an impending disaster. In doing this it was but natural that some friction between the Board and the London Committee shouli have been caused, but that, of course, could not in the interests of Shareholders of the Company, and indeed in the general interests of all who have business relations with the port of Singapore, be allowed to stand in the way of measures of reform. He had already said that greater tacı might have been used from the other side in urging the necessary reforms, especially as a great many emanated in the first instance from this side, the chief one being the appointment of a fully qualified person to take the position of Managing Director, but he spoke with a full knowledge of the circumstances in connection with this Company during the past three to four years, when he said that he was sure the London Committee had no other object in view throughout the whole of that period than the general good of the Company, which could only he obtained by the thorough reform which was being undertaken, so as to bring the whole working of it completely up to date, and re-establish that confidence in the management which le greatly feared had to a large extent been shaken. He could not disguise his opinion that in the interests of all concerned, Mr. Anderson should have sunk his personal feelings in this matter, us such a statement as he had made to them could not in any way assist the cause which he had thoroughly at heart, viz., the future success of the Tanjong-Pagar Dock Company. He had done splendid service for the Company for many years, thus carrying on the excellent work which for a long period, in fuet, ever since the birth of the Company, was the life and soul of his predecessor, Mr. Scott. He had considerable sympathy with him in having many of his actions so completely misunderstood, but the time for all those personalities had, in his Mr. Stringer's) opinion, gone by, and both the Board of Directors, with their extensive know- ledge of local circumstances and the London Committee, in closer touch with the wishes of the largest Shareholders in the Company, and with the complaints of ship-owners, which were pretty frequent two or three years ago, and which were still occasionally heard, must now work in harmony together in carrying out those large improvements which are so necessary to make the Tanjong-Pugar Dock Company, the chief factor in the maintenance and development of the British Empire. They were no doubt aware Singapore as one of the proudest possessions
that important proposals were now being considered for the general improvement and develop- ment of the immense property connected with this Company. As prudent men the Board of Directors and the London Committee would naturally take all precautions before embarking on such a costly scheme, to be sure that the suggestions of Mr. Nicholson, which appear to have been thought out so carefully and calculated so closely, are the best in every way for the promotion of their interests and the good of this port. This must naturally take a little time, but better that than a leap in the dark. He felt confident that when once the decision was arrived at they would have no cause of complaint at any want of energy in pushing on the work, nd personally he was quite sanguine, that with careful management and all pulling together, no concern of this description in any part of the world had a greater future before it than the Tanjong-Pagar Dock Company. He (the speaker) had taken a few rough notes of Mr. Anderson's speech which he could not help thinking had been brought forward as a surprise and meant to go forward as unanswered and unanswerable. Mr. Anderson had stated that he was going to rely entirely on facts, whereas, in his opinion, the Shareholders were merely treated to Mr. Anderson's personal views on matters generally, Ile had explained at some length the connection of Tanjong-Pagar with the Port of Singapore, with which he thoroughly agreed, but he contended that the London Committee had recognised this quite as much as any here, and that their policy had invariably been directed in accordance with those views. It must not be torgotten that the London Committee represent the large Shareholders in the Company, and were naturally themselves interested in secing that affairs are managed_with_prudence and caution. He was greatly surprised that Mr. Anderson should have referred to the letter which private and fell into his hands on the death of Mr. Rutherford, and which was marked " confidential." 11o wondered how many gentlemen in that room, if a letter got into their hands ander similar circumstances, would have felt themselves justified in referring to it in such a nublic manner as Mr. Anderson had done. He did not intend to defend the wording of that lotter, but he might explain that there was considerable doubt by the London Committee at that time if Mr. Rutherford would meet with a cordial reception here, and the letter was, he understood, merely intended to warn him to find out the position of affairs for himself, and not to trust entirely to what he was told. He was ready to admit that this was entirely a wrong impression, but all the same the letter was a confidential one, and its contents ought certainly not to have been referred to at a public meeting. As to Mr. Anderson's reference to Mr. Scott being ousted from the chair, he could only say that he had no recollection of it. He had always heard Mr. Scatt spoken of with the greatest respect on both sides, and personally he would have been glad if he had been able to take the chair again. Another point Mr. Anderson had referred to was the amalgamation with the New Harbour Company, with which he (the speaker) had been intimately connected for many years. He looked upon it from an entirely fifferent point of view from Mr. Anderson. In his opinion Tanjong-Pagar had made an excellent bargain. This could be seen from the handsome returns from the Kepel Harbour section, which, at the present time, showed a decided advantage in favour of the Tanjong-Pagar Dack Company Shareholders. Mr. Anderson had mentioned the minutes of the Directors. He must surely have forgotten that the London Committee had been frequently asking for fuller minutes, and more information. They entirely wished that these should be full. There were many other points in Mr. Anderson's speech referring to personal matters he would not touch n, as such washing of dirty linen in public did no good. "Mr. Anderson's original amendment was to make alterations in the articles of association. From what he gathered he had taken advantage of the meeting to introduce as a side issue an amendment to the report which he hoped would have the effect of abolishing the London Committee. Mr. Anderson was angry with the London Committee because they had not consulted the Directors about taking new offices. He (Mr. Stringer) was in London at the time, and he thought the London Committee very wise to
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take the opportunity to get very suitable and convenient offices, in place of others which were not an, but be understood they shared them with the Straite Settlements Association. It was not, perhaps, part of his duty to defend the London Committee, which was in existence long before he the honour of a seat on the Board or held a share in the Company, but for the past three or four years he had every opportunity of closely following the work they had been called upon to perform, and he was absolutely satisfied that differences between the Board and the London Committee have rarely been, and he said this notwithstanding the instances Mr. Anderson had given on very important matters, and that the London Committee had always shown the keenest disposition, when the arguments had been fairly put before them, of supporting any real measures of reform when suggested from this side and of urging others from their own. Let him take the one instance which has caused Mr. Anderson to sever his connection with the Board of Directors. Mr. Anderson had favoured them with his views regarding Mr. Nicholson's report. He would give them his version of the London Committee's action regarding it. The idea of a proper report on the Company's property, so that the works should be brought thoroughly up to date and really meet the requirements of Singapore, was constantly pressed upon the Board by the London Committee to his knowledge as far back as the year 1901, and yet it was not until a few weeks ago that it was actually made. There were, however, many causes for the delay, and he did not mention this matter with the view of throwing any discredit on this Board. They knew the unfortunate circumstance which deprived them of the services of Mr. Rutherford in 1902, when he was just beginning to see what was wanted. Then there was a long and unavoidable delay before a successor could be found. Mr. Nicholson took up his appointment early last year, and then again the London Committee commenced to agitate for this long-promised report. In April of last year they wrote:-
"The Committee would be glad to know when they are likely to receive Mr. J. R. Nicholson's report with recommendations of a definite policy to enable the Company to meet the growing requirements of the port.'
To this Mr. Nicholson immediately replied: "The writer has at present a scheme in course Again, in
of preparation in regard to the development of the Company's wor's and property." July of the same year, they wrote from London:—
"The Committee do not feel themselves in a position to come to any decision in the matter until they have received a report from the Managing Director as to what expenditure is likely to be incurred in carrying out paragraphe 101 b and 101 e in Mr. Matthews' report, and generally as to the bearings of those suggestions on the whole scheme of future development of the Tanjong-Pagar property."
And on various dates afterwards they showed that this was the most important matter to be kept before the Board. They would appreciate that a considerable time was necessary before Mr. Nicholson could lay before the Board of Directors a complete scheme to meet the present requirements of Singapore and enable the Company to satisfy Shareholders and the Government that everything was being done to fulfil the important position that it held in this Settlement. Early in February of this year the Board of Directors were able to send the first copies of this report to London but--and this was the point to which he was leading- Mr. Anderson, supported by some of the Directors, held the view that Mr. Nicholson's report should be issued at once to Shareholders, others on the Board contended that an opportunity should be given to the London Committee to consider it themselves and take a second opinion, not as to the work to be constructed, for that was a matter upon which the Directors themselves had long ago made up their minds, but as to how the work was to be carried out, so that no mistake should be made in the expenditure of such a large sum of money as is required. Personally he could conceive no other prudent course than to have Mr. Nicholson's report submitted to a second opinion, and when this was obtained to put it, with a properly thought-out scheme for financing it, before Shareholders at a specially called meeting for that purpose only. There was not the least intention and never had been to withhold the information from them when the proper time arrived, but to push the consideration of works so vital to the interests of the Company into the business of a meeting such as that, without getting any views on the subject from the other side, and with no suggestions even as to how the money was to be found.... although, as Mr. Anderson well knew, a scheme for this end was under consideration-would, in And yet his opinion, have been the most injudicious and short-sighted policy imaginable. because Mr. Anderson could not get his own way in this matter, he washed his hands of the whole affair and threw the entire responsibility on their shoulders. If ever the London Com- mittee had protected the interests of Shareholders, it was surely in the action they had taken over the matter. On the vote which they were about to give he would beg them most carefully to weigh the possible results. They were practically asked to say whether they approved of the existence of a controlling voice from the other side by a body of gentlemen, all of whom had considerable experience in the affairs of the Company, both here and in London, and who must necessarily be free from local circumstances which may possibly, on occasion, prejudice their judgment. Nearly all are either large Shareholders themselves or represent important interests in the Company, and except in one instance all have had seats on this Board and Some have occupied the chair. The one instance he referred to was Mr. Gulland, and he was the Chairman of the rival Dock Company before the amalgamation. Mr. Stringer concluded:-- Gentlemen, do consider most carefully what you are about to do, in your own interests, if for no other reason. The affairs of this Company are in a critical stage, and, if you really intend to support Mr. Anderson in what appears to be his personal feelings against the so-called interference and criticism of the London Committee, you will be absolutely blind to your interests, and deal a very severe blow at the future success of this port. The Company has an uurivalled position and a splendid business. All we require now is to show the Government here and the public that we are not such fools as to let our personal quarrels, which are, I can assure you, really nothing, and can be got over with the smallest amount of tact and prudence--- interfere with the grand object we all have in view, namely the making of the Tajong-Pagar
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