CO882-(6-8) — Page 558

No. 171.

200

In the meantime the preliminary information necessary for the witness can be prepared by Messrs. Trowell and Tomlinson.

I have, &c.,

L. M. WOODWARD.

201

7. This is one of the matters Mr. Trowell and myself discussed with Mr. Adams

in Penang. He agreed with me as to the importance of it and with the suggestion to get an expert. I think you will find that no legal text books deal with this descrip- tion of case. Mr. Adams has both "Cripps" and "Boyle's."

S. TOMLINSON, M.Inst.C.E.

From S. TOMLINSON, M.Inst.C.E.

23878

سلئسيسا

PUBLIC RECORD OFFICE

Reference :—

C.O. 882

8

ALLY WITHOUT PERMISSION OF THE BE REPRODUCED PHOTOGRAPHIC-

COPYRIGHT PHOTOGRAPH-NOT TO

PUBLIC RECORD OFFICE, LONDON

1, Raffles Quay, Singapore, June 1, 1905. Expropriation of Tanjong Pagar Dock Company, Limited.

On the retaining of an eminent valuer of machinery and trade premises and profits. Counsel:

1. The profits of the Company are in the main derived from the wharf trade and the repair of vessels.

2. The latter is a trade and the multiplier should be less than for the former (wharf rents and receipts) and a very large sum depends on this point being made good.

3. I think no time should be lost in the retaining in England of the best autho- rity on the valuation of trade profits and concerns. Such a firm as Wheatley, Kirk, Price and Company will have the person required. This firm advertises itself thus:-

"Wheatley Kirk, Price and Company

<

(Established 1850)

"Mechanical and Electrical Valuers, Auctioneers and Arbitrators.

C

Our Average Annual Valuations exceed £2,500,000.

"Special Rates for periodical valuation. Annual Valuations and Reports of Elec- trical undertakings, Tramways, &c., in conformity with the Act a speciality. "46, Watling Street, Queen Victoria Street, London, E.C., and Albert Chambers, Albert Square, Manchester.

Telephones:-

5077, Bank, London.

"3818, Central, Manchester,

Telegrams:-

C

'Indices,' London.

"Indicator,' Manchester."

and has long been well known and must know what number of years' purchase is applied to trade profits when private firms are being converted into companies and companies are being reconstructed and or amalgamated.

4. I regard this point as one of the very greatest importance in this case, partly because of the large sum of money involved and partly by the infrequence of it in the compulsory acquisition of properties. I confess I know of no case of the compulsory acquisition of a large machine shop trading con- cern. It may be advisable to obtain the services of two valuers. The Company will probably claim an income of over $500,000 a year from this branch of their under- taking.

5. Incidentally this expert would also be useful in establishing the up-to- date-ness" or otherwise of the plant and works generally and would no doubt be useful on the general work of valuation in support of the other witnesses. This expert should be here at least three weeks before the court begins to sit: this time would. enable him to complete his inspection of the property, examine the accounts and prepare his evidence so as to be ready by the time Counsel arrived, which will be presumably some days before the sittings commence.

6. If my recommendation be acted on it will be necessary to expedite the pre- paration of the special information which this witness should have before he leaves England and Mr. Trowell and myself will do this as soon as we receive instructions.

GOVERNOR SIR J. ANDERSON to MR. LYTTELTON.

(Received 8.34 a.m., July 10, 1905.)

TELEGRAM.

[Answered by No. 238.]

Notice has been given to Board that services London staff will not be required.

23665

SIR,

(No. 193.)

No. 172.

MR. LYTTELTON to GOVERNOR SIR J. ANDERSON.

Downing Street, July 11, 1905. WITH reference to previous correspondence I have the honour to inform you that Mr. J. C. Inglis, General Manager of the Great Western Railway, has accepted nomination as a Member of the Court of Arbitration in connection with the expro- priation of the Tanjong Pagar Dock Company's undertaking.

2. You will, of course, have in readiness a formal letter of appointment, to be handed to Mr. Inglis, on his arrival in the Colony.

23665

No. 173.

I have, &c.,

ALFRED LYTTELTON.

COLONIAL OFFICE to MESSES. SUTTON, OMMANNEY, AND RENDALL.

[Answered by Nos. 176 and 177.]

GENTLEMEN,

Downing Street, July 11, 1905.

I AM directed by Mr. Secretary Lyttelton to inform you that Mr. J. C. Inglis has accepted nomination as a Member of the Court of Arbitration in connection with the expropriation of the undertaking of the Tanjong Pagar Dock Company, and states that he is awaiting a communication from you on the subject.

23860

No. 174.

I am, &c.,

H. BERTRAM COX.

COLONIAL OFFICE to MESSRS. SUTTON, OMMANNEY, AND RENDALL. [Answered by No. 202.]

GENTLEMEN,

Downing Street, July 11, 1905. WITH reference to previous correspondence, I am directed by Mr. Secretary Lyttelton to forward to you the enclosed copy of a despatch* from the Governor of the Straits Settlements with regard to the valuation of the machinery, premises, and profits of the Tanjong Pagar Dock Company.

2. Mr. Lyttelton would be glad if you would give your early consideration to the point raised in the enclosures to this despatch.

• No. 170.