COPY.
T
0.
1C942231
Rec'd 28 MAR 04)
The Hongkong and Canton and Macao Steamboat Company, Limited.
Sir,
Hongkong, 12th February, 1904.
The Honourable
In accordance with a resolution of the seventy-fifth ordinary half-yearly meeting of the Shareholders of this Company held on the 8th instant, I have the honour to enclose three copies of the minutes of the said meeting and beg leave to request that His Excellency the Officer Administering the Government will be pleased to transmit the same to the Right Honourable the Secretary of State for the Colonies with such representations thereon as he may think fit to offer.
For the information of His Excellency it may be mentioned that the two French Steamers "Paul Beau" and "Charles Hardouin" owned by the Messageries Cantonnaises which have recently been placed on the line between this Colony and Canton are in receipt of an annual subsidy from the French Government amounting to 326,000 francs or roughly speaking about $4,000 per month each. It is obvious that where running expenses for each vessel are probably not in excess of $4,500 per month each, such material aid will enable these boats to work at a profit while accepting rates of freight and passage which to other competing steamers not so subsidised would inevitably result in very considerable loss. It is understood that the subsidy holds good for ten years, and given a sufficient number of such state-aided vessels it is clear that under prevailing conditions the transfer of the carrying trade between...
A. M. Thomson, Acting Colonial Secretary.
COPY.
T
0.
1C942231
Rad 28 MAR 04)
The Hongkong and Canton and Macao Steamboat Company, Limited.
Sir,
Hongkong, 12th. February, 1904.
The Honourable
In sccordance with a resolution of the
seventy-fifth ordinary half-yearly meeting of the Shareholders
of this Company held on the 8th. instant, I have the honour to
enclose three copies of the minutes of the said meeting and beg
leave to request that His Excellency the Officer Administering
the Government will be pleased to transmit the same to the Right:
Honourable the Secretary of State for the Colonies with such
representations thereon as he may think fit to offer.
For the information of his Excellency it
may be mentioned that the two French Steemers "Faul Beau" and
"Charles Hardouin" owned by the Messageries Cantonnaises which
have recently been placed on the line between this Colony and
Canton are in receipt of an annual subsidy from the French
Government amounting to 326,000 francs or roughly speaking
about $4,000 per month each. It is obvious that where running
expenses for each vessel are probably not in excess of $4,500.
per month each such material aid will enable these boats to
work at a profit while accepting rates of freight and passage
which to other competing stearers not so subsidised would
inevitably rsult in very considerable loss. It is understood
that the subsidy holds good for ten years, and given a suffici-
ent number of such state-aided vessels it is clear that under
prevailing conditions the transfer of the carrying trade bet-
A. M. Thomson, Acting Colonial Secretary.
-ween
No comments yet.
Private notes are available after approval.