CO882-(6-8) — Page 578

PUBLIC RECORD OFFICE

Reference :-

C.O. 882

8PUBLIC RECORD OFFICE, LONDON

ALLY WITHOUT PERMISSION OF THE BE REPRODUCED PHOTOGRAPHIC-

COPYRIGHT PHOTOGRAPH-NOT TO

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Extensive ranges of godowns and coal sheds.

Proprietors of powerful steam tugs, steam launches and lighters.

Complete equipment of salvage appliances, pump, &c.

The machine shops, erecting shops, iron and brass foundries, blacksmiths", boiler- makers', and carpenters' shops are replete with appliances for the speedy and efficient building and repairing of wooden and iron vessels; and the Company have always on hand an extensive and varied stock of every description of materials.

Conditions of and relating to the Company's acting as Wharfingers and Warehousemen.

The Company give notice that they have a lien on all goods landed at their wharves, or deposited in their premises, for wharfage, labour, rent, fire insurance, and any other expenses and charges and for a general balance of account due to the Company.

Treasure and packages containing valuables are stored in the godowns at the risk of the consignees, but packages containing articles or liquids of a dangerous or explosive nature will on no account be received into the godowns,

The Company also give notice that they hold all ships using the Company's wharves and premises liable for all wharfage and other charges payable to the Com- pany, and do not in any way recognise arrangements made by a ship with the charterers or others, and in any cases where the ship's agent declines to give an under- taking to pay all authorized charges the ship will be held liable for the full amount, which must be settled before leaving the wharf.

The Company will not be responsible for any losses or deficiencies which may be due to hatural causes, and they will not be answerable for any losses or deficiencies on goods of any description unless the extent of such losses or deficiencies is agreed to in writing prior to the removal of the goods from the Company's custody.

The Company will not be responsible for damage to goods in the Company's custody 'caused by or consequent on floods, tornadoes, tidal waves or other force majeure, or 'caused by or appearing to have been caused by vermin or by white ants

or other insects.

The Company undertake the work of carrying on their tongkangs or lighters of goods or cargo off and from vessels, or to or from the Company's wharves or ware- houses, only on the condition that the Company are not liable for injury to or loss of such goods or cargo, arising or suffered otherwise than by reason of the wilful default of the Company or the Company's servants employed in or about such carrying. The Company do not insure or undertake the covering by insurance against injury to or loss of such goods or cargo.

The Company will not be responsible for any delay, loss or damage arising through combinations or strikes of workmen, nor for any consequences therefrom.

The Serangs and labourers employed in discharging and loading vessels will be under the superintendence of the ship's officers and the Company undertake no responsibility as stevedores.

The Company reserve the right of rejecting any work, business or employment offered, and also of charging other rates than those named in the tariff if notified beforehand to the parties concerned.

29001

W. G. NIVEN, Secretary,

The Tanjong Pagar Dock Company, Limited.

No. 232.

COLONIAL OFFICE to MR. W. J. TROWELI

(Sent August 14, 1905.)

[Copy to Governor, confidential, and to Messrs. Sutton, Ommanney, and Rendall,

August 15, 1905. L.F.]

[Answered by No. 246.] TELEGRAM.

Your letter and telegram of 12 August.* You are authorised to offer Messrs.

• See No. 230.

239

Grayson fee of one hundred guineas if information is given in a shape in which it can be used in evidence.

Fee will be paid by Crown Agents on your reporting to me receipt of information.

29288

SIR,

No. 233.

MESSRS. SUTTON, OMMANNEY, & RENDALL to COLONIAL OFFICE. (Received August 15, 1905.)

[Copy to Governor, August 18, 1905, Confidential. L.F.]

3 and 4, Great Winchester Street, London, E.C., August 15, 1905.

Straits Settlements.

Tanjong Pagar Dock Company, Limited.

HAVING considered the instructions for brief and for counsel to advise upon evidence prepared by Mr. Adams and Mr. Woodward, and brought to this country by Mr. Trowell, it appears to us to be necessary to place on record the principles upon which the evidence to be adduced on behalf of the Government should be pre- pared. In all cases in which the undertaking of the Company consists of income- earning businesses it is necessary in the first place to ascertain the income which the Government may reasonably expect to receive, having regard to the previous receipts by the Company from such businesses, and the witnesses should be prepared to say what, in their opinion, are the proper amounts which should in the past have been placed to working expenses and maintenance in order to produce such income. This income will be arrived at after consultation with the witnesses and the accountant employed by the Government.

Having found the income, the next question to be considered is the security which the Government can reasonably anticipate for the due and regular receipt of such income. Upon the question of such security the evidence should deal with the conditions under which the Company carries on its business; whether it has had to contend with outside competition or not; and whether there are any restrictions peculiar to the Company and not affecting other competitors.

Having ascertained the income, and having arrived at the security afforded for the maintenance of such income, the next question to which the witnesses must address themselves is the number of years' purchase to be applied to such income, and which will form the basis of the compensation to be paid to the Company. The number of years' purchase will vary with the security which can be applied to the income, and in this connection the question of possible foreign competition is, in our opinion, of the utmost importance, and we think that evidence should be adduced to show what likelihood there is of ports such as Hong Kong, Java, and Calcutta entering into competition with Singapore, and that in preparing such evidence special attention should be drawn to any ports likely to compete with Singapore in the transhipment trade. We understand that cable instructions have been already sent to the Governor of the Colony with reference to this class of evidence and the evidence referred to under the 4th point mentioned hereafter.

The business of the Company should be divided into its different branches. The number of years' purchase to be applied to any particular branch of the Company's business will diminish in proportion to the absence of security to be afforded for the maintenance of the income obtained from such branch, and will increase in cases where the security is better.

With reference to the land occupied by the Company, all land used by the Company for the purpose of its undertaking is covered by the number of years' purchase to be applied to the income, but any land not so used must be valued separately at its present market value, without any allowance for the future improve- ment by development as building land or otherwise.

Apart from the general principles involved, it appears to us that the local advisers of the Government required specific advice upon four points:—

(1) As to the manner in which the contributions made in pursuance of Clause. 107 of the Company's Articles relating to "Aiding Members" should

be dealt with.