CO882-(6-8) — Page 607

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PUBLIC RECORD OFFICE

Reference :-

سلسلنا

C.O. 882

8

PUBLIC RECORD OFFICE, LONDON

ALLY WITHOUT PERMISSION OF THE BE REPRODUCED PHOTOGRAPHIC- COPYRIGHT PHOTOGRAPH-NOT TO

294

Brought forward (fii.) Agreed value of lands conditional on their being held to be surplus (see column 4 of schedule C of the "Tomlinson-Maclaren Report")

1,654,970.00

(iv) Valuation (not agreed by the Government) of lands (including some buildings) not admitted to be surplus (see column 5 of sche- dule C of the "Tomlinson-Maclaren Report ") 1,265,900.00 (v.) East Reclamation (purple)

4,320,000.00

[NOTE. (A.) The total amount of $8,143,024,31 does not include the surplus land at Prye River which is comprised in 3 A.

22

() If any of the lands comprised in (iii) (iv) or (v) are

held not to be surplus the "maintainable income should be adjusted by adding to it the capitalised value of the income received from such lands in accordance with schedule E of the "Tomlinson- Maclaren Report."]

Total Claim for Undertaking

(Late 5 and 5. Expenses incidental to Expropriation pmH G.)

(i.) Directors' fees from the appointed date to the date of the award at the rate of $22,500 a year (11.) Consulting Committee's fees from the appointed date to the date of the award at the rate of $9,450 a year

(iii.) An allowance for Secretarial, Clerical, Rent, and

Office Expenses incurred and to be incurred :---

(1) in London

(2) in Singapore

which, whilst not being costs incidental to arbitration under Section 21, are necessary ex- penses incurred in preparing Balance Sheets for 6 months ending 30th June, 1905, distri- buting interest and dividends and generally administering and maintaining the Company between the appointed date and date of Award. The Company estimate such expenses for

9 months to be

$20,000

8,143,024.31

$69,076,586.35

(Late 4 and 6. Compensation to Servants and Officers (Consulting Committee and part 6.)

Secretary).

(i.) Annuity of 300 guineas to Mr. Gulland,

Chairman (aged 64).

(ii.) Annuity of 150 guineas to Mr. Cuth-

bertson (aged 57).

(iii) Annuity of 150 guineas to Mr. Finlayson

(aged 56).

(iv.) Annuity of 150 guineas to Mr. Mansfield

(aged 55).

(v.) Annuity of 150 guineas to Mr. Currie

(aged 61).

(vi.) Annuity of £500 to Mr. Fraser,

Secretary (aged 54).

The Ages

are as on

appointed date.

[NOTE.-(A.) These annuities to run from cessation of payments to the above for services in con- nection with liquidation.

(B.) The compensation for Mr. Gray and four Clerks under Item 5 of the Original Claim has been paid or satisfied.]

295

1. Withdrawn on Construction of Section 22 of the Ordinance.

8. Allowance for Cost of Reinvestment to Cover Brokerage ad valorem Stamp Duty and Stamps, 1 per cent. on aggregate award on Items 1 to 4 of the claim

++

9. Allowance for Recoupment of Loss of Interest from Date of Pay- ment, pending Distribution and Reinvestment, 2 per cent. on aggregate award, on Items 1 to 4 of the claim (being at the rate of

per cent. per annum for a period of 4-5 months) .

5

10. Agreed Sum to Cover Costs, Charges and Expenses of Liquidation

from date of Award...

11. Costs, Charges and Expenses of the Company incurred in and

incidental to the Expropriation and Arbitration

Total

[NOTE-A separate award in respect of Items 5 to 10 is requested.

See discussion at p. 587 of Notes of Proceedings.]

Dated the 16th day of March, 1906.

10188

Druces & Attlee,

10, Billiter Square, London,

London Solicitors for the

$37,865.00

Tanjong Pagar Dock Company, Limited.

No. 324.

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

SIR,

(Received March 24, 1906.)

[Answered by Nos. 327 and 345.]

3 and 4, Great Winchester Street, London, E.C., March 23, 1906. Straits Settlements.-Tanjong Pagar Dock Company, Limited.

We have to inform you that Messrs. Druces and Attlee, in November last, applied to our junior partner when he was in Singapore requesting that the Government would make an advance to the Company, under the provisions of Section 7 (c), of the sum of £10,000 to cover arbitrators', counsels', and expert witnesses' fees and expenses connected with the arbitration. In reply to this request we desired Messrs. Druces and Attlee to furnish us with a statement showing the payments or liabilities which the Company had incurred in connection with the arbitration, and which rendered the application necessary, and this statement Messrs. Druces and Attlee agreed to furnish to us on their arrival in London. They have now recently renewed the application, and have furnished us with the accompanying "schedule of payments," showing an alleged total liability in London of £30,189, against which they have retained as appears by the Company's balance- sheet to the 30th June last the sum of £22,700, leaving a balance claimed by them of £7,589.

From figures supplied to us by the Acting Colonial Secretary in Singapore it appears that the Company had on the 7th December, 1905, received advances in the Colony amounting to $74,000, while they have retained a further sum of $29,553, making a total sum retained or advanced on account of the expenses of the arbi- tration of $103,000. Of this sum we understand there is a small balance in the hands of the Company in Singapore, hut Messrs. Druces and Attlee state, that while they are unable to give us any more recent figures relating to the Singapore accounts than are in our possession, they do not anticipate that such balance in hand on the Singapore account will be more than sufficient to meet the current requirements of the Company in Singapore.

Without at this stage placing any strict interpretation on the language of Section 7 of the Ordinance, we considered that the Company are entitled to be