CO129-401 - Governor Sir May - 1913 [5-6] — Page 220

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20 June 1913

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20483

16 JUNIS

GOVERNMENT HOUSE,

HONGKONG 26th, Lay, 1913.

217

I have the honour to acknowledge the receipt of

your telegram of 20th, instant, calling for further details and

figures to enable you to decide finally the question of compensa-

-tion to the Hongkong Electric Tramway Company, on account of the

recent boycott of its cars.

I much regret that the information previously

supplied by me was insufficient and I now find that it was un-

-fortunately incorrect inasmuch as the cash receipts on the cars

was taken as the basis of calculation whereas receipta from the

sale of season and punch tickets at the Company's offices should

have been included.

I now enclose a return which gives full in-

-formation of the earnings of the Company during 1912 before and

after the boycott had begun. From this return you will see that the net daily average receipts in 1912 up to the 17th. of November were

1,511.14 (after deduction of discount): the net daily average

receipts after 17th. November to 31st. December, 1912, were $467.71.

I also enclose a statement furnished by the Tramway Company upon

which the sun necessary to provide a dividend of 5 per centum is

calculated, together with copy of a report thereon by the Treasurer.

Taking the figure for expenditure, including

2.

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E RIGHT HONOURABLE

LEWIS HARCOURT, K.P..

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BC.

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