CO129-366 - Governor Sir Lugard Acting Governor May - 1910 [4-5] — Page 72

RATES OF DIVISION

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On the proportion of Ton Miles 35 + 137 = 172.

British

35

172

and Chinese 137

172.

70

1/5 and 4/5 which is exactly as per the mileage of the two Sections,

1/5 of $322,977

4/5

=

$ 64,595

258,282

Total British $64,595 + $116,912

#

Chinese

British.

Chinese.

$181,507 = 1.8 on Capital cost.

= $258,282 = 1.8 on Capital ooat.

Suppoeing however the Chinese local traffic doubled in amount

we would get $842,866 as gross earnings from which we may take the

$116,012 due to Constructive Rate and leave $725,954 to be divided

according to Ton Mileage which now become

British = 3,512 and Chinese 16,358 and the proportion for

Division is 35 or say 35 = about 1/6 to 5/6.

198

200

Suppose Working Expenses to be $350,000 and deduct it from

$725,954 the balance $375,954 must be divided in the Ratio of 1/6 and

5/6 to the British and Chinese respectively i.e. 62,659 and 313,295

which works out total net earnings as follows:-

Again

British $116,912 plus $62,659

Chinese

= $179,928.

F 313,295.

Assum the traffic from Canton to Hongkong and back doubles

taking round figures the gross earnings are equal to $1,300,000 and

deducting the amount due to British Section for Constructive rate =

$175,000 and the ton miles as British 4,200 and Chinese 19,200

the division becomes .18 and .82 so that the total for Division would.

be

1,300,000 175,000 = 1,125,000.

Deduct 400,000 for working expenses the amount to division =

725,000 and is divided in the proportion .18 and .82 or

130,500 to British and 594,500 to Chinese.

Add to the British the effect of the 175,000 Constructive Rates

305,500 which is about 3% on Capital.

(ad) E.S.Lindsey.

11.1.10.