CO129-466 - Individuals - 1920 — Page 539

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed

To: The Under Secretary of State.

In recent years, but some companies are doing very well for their shareholders. The Bristol Tramway and Carriage Company pays for 1919, as for 1918, 7% free of income tax.

Receipts from Tramways and the carriage department both showed fair increases, but expenditure still runs high, absorbing last year 91% of the gross revenue.

535

This makes the more remarkable the experience of the Torquay Tramways Company in the same year, for even working expenditure was only 45% of the gross. If the £10,000 allocated from profits to reserve and renewals be included in expenses, the ratio is still under 64 per cent.

The Torquay system is a small and compact one of less than 10 miles, and the capital is in accordance. For 1919, the company paid 8 per cent. free of income tax and, besides reserving £10,000 for renewal (bringing the fund to £40,000), put £3,000 to a dividend equalisation fund.

The shares not long ago received an official quotation.

The Promoters have inspected the Torquay Tramways system, which includes many steep gradients similar to those which will be experienced in Hong Kong, and the high standard of construction and exceptionally smooth running of the tramways are in themselves flattering testimonials to the ability of the National Electric Construction Company. It is understood the Rhondda tramways, which were completely equipped and financed by the National Electric Construction Company, are equally well constructed and financially successful.

The Promoters are satisfied that if they had been allowed to proceed as they were doing in November and December 1918, the construction of the Tramway to Hong Kong South would by now have been nearing completion, if not already completed.

Although the Armistice was signed on November 11, 1918, nearly one year later, it was not until October 2nd, 1919, that the Promoters received the Colonial Office authority to proceed, and then only on less satisfactory terms than those originally contemplated. The Promoters, although much discouraged by the Colonial Government's attitude and despite requirements for the first time of a forfeitable deposit of $50,000, took it upon themselves to enter into fresh negotiations with a view to carrying the scheme to fruition. The delay, entirely attributable to the Colonial authorities, and the inexplicable objection to the National Electric Construction Company, rendered these new negotiations far more difficult than would otherwise have been the case, there being the odium attaching to the business as a ...

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To: The Under Secretary of State.In recent years, but some companies are doing very well for their shareholders. The Bristol Tramway and Carriage Company pays for 1919, as for 1918, 7% free of income tax.Receipts from Tramways and the carriage department both showed fair increases, but expenditure still runs high, absorbing last year 91% of the gross revenue.535This makes the more remarkable the experience of the Torquay Tramways Company in the same year, for even working expenditure was only 45% of the gross. If the £10,000 allocated from profits to reserve and renewals be included in expenses, the ratio is still under 64 per cent.The Torquay system is a small and compact one of less than 10 miles, and the capital is in accordance. For 1919, the company paid 8 per cent. free of income tax and, besides reserving £10,000 for renewal (bringing the fund to £40,000), put £3,000 to a dividend equalisation fund.The shares not long ago received an official quotation.The Promoters have inspected the Torquay Tramways system, which includes many steep gradients similar to those which will be experienced in Hong Kong, and the high standard of construction and exceptionally smooth running of the tramways are in themselves flattering testimonials to the ability of the National Electric Construction Company. It is understood the Rhondda tramways, which were completely equipped and financed by the National Electric Construction Company, are equally well constructed and financially successful.The Promoters are satisfied that if they had been allowed to proceed as they were doing in November and December 1918, the construction of the Tramway to Hong Kong South would by now have been nearing completion, if not already completed.Although the Armistice was signed on November 11, 1918, nearly one year later, it was not until October 2nd, 1919, that the Promoters received the Colonial Office authority to proceed, and then only on less satisfactory terms than those originally contemplated. The Promoters, although much discouraged by the Colonial Government's attitude and despite requirements for the first time of a forfeitable deposit of $50,000, took it upon themselves to enter into fresh negotiations with a view to carrying the scheme to fruition. The delay, entirely attributable to the Colonial authorities, and the inexplicable objection to the National Electric Construction Company, rendered these new negotiations far more difficult than would otherwise have been the case, there being the odium attaching to the business as a ...(5)BASE

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To: The Under Secretary of State."recent years, but some companies are doing very well" for their shareholders. The Bristol Tramwaya and "Carriage Company pays for 1919, as for 1918, 7% free "of income tax.TReceipts from Tramways and the carriage department "both showed fair increases, but expenditure still runs "high, absorbing last year 91% of the gross revenue.H535This makes the more remarkable the experience of the "Torquay Tramways Company in the same year, for iteEven "working expenditure was only 45% of the grosa. "if the £10,000 allocated from profits to reserve and "renewals be included in expenses the ratio is still under "64 per cent.HThe Torquay system is a small and compact one of "less than 10 miles, and the capital is in accordance. "For 1919 the company paid 8 per cent. free of income tax "and besides reserving £10,000 for renewale (bringing the "fund to £40,000), put £3,000 to a dividend equilisation "fund.The shares not long ago received an official quota-"tion. 17The Promoters have inspected the Torquay Tramways system, which includes many steep gradients similar to those which will be experienced in Hong Kong, and the high standard of construction and exceptionally smooth running of the tramways are in themselves flattering textimonials to the ability of theIt is understood the National Electric Construction Company. Rhondda tramways, which were completely equipped and financed by the National Electrio Construction Company are equally wellThe Promoters are constructed and financially successful.Batisfied that if they had been allowed to proceed as they were doing in November and December, 1918, the construction of the Tramway to Hong Kong South would by now have been nearing completion, if not already completed.Although the Armistice was signed on November 11 nearly one year 1918, it was not until October 2nd, 1919 later--- that the Promoters received the Colonial Office authority to proceed, and then only on lesв satisfactory terms than those originally contemplated. The Promoters, although much discouragedand despite requirements by the Colonial Government's attitude under- for the first time of a forfeitable deposit of $50,000 took to enter into fresh negotiations with a view to carryingthe acheme to fruition. The delay, entirely attributable to the Colonial authorities, and the inexplicable objection to the National Electric Construction Company, rendered these new negotiations far more difficult than would otherwise have been the case, there being the odium attaching to the business as a (5)BASE"

2026-06-26 14:53:14 · Baseline

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To: The Under Secretary of State.

"recent years, but some companies are doing very well " for their shareholders. The Bristol Tramwaya and "Carriage Company pays for 1919, as for 1918, 7% free "of income tax.

Receipts from Tramways and the carriage department "both showed fair increases, but expenditure still runs "high, absorbing last year 91% of the gross revenue.

535

This makes the more remarkable the experience of the "Torquay Tramways Company in the same year, for ite

Even "working expenditure was only 45% of the grosa. "if the £10,000 allocated from profits to reserve and "renewals be included in expenses the ratio is still under "64 per cent.

The Torquay system is a small and compact one of "less than 10 miles, and the capital is in accordance. "For 1919 the company paid 8 per cent. free of income tax "and besides reserving £10,000 for renewale (bringing the "fund to £40,000), put £3,000 to a dividend equilisation "fund.

The shares not long ago received an official quota-

"tion. 17

It is understood the National Electric Construction Company. Rhondda tramways, which were completely equipped and financed by the National Electrio Construction Company are equally well

The Promoters are constructed and financially successful. Batisfied that if they had been allowed to proceed as they were doing in November and December, 1918, the construction of the Tramway to Hong Kong South would by now have been nearing completion, if not already completed.

Although the Armistice was signed on November 11

nearly one year 1918, it was not until October 2nd, 1919 later

that the Promoters received the Colonial Office authority to proceed, and then only on lesв satisfactory terms than those originally contemplated. The Promoters, although much discouraged

and despite requirements by the Colonial Government's attitude

under- for the first time of a forfeitable deposit of $50,000 took to enter into fresh negotiations with a view to carryingthe acheme to fruition. The delay, entirely attributable to the Colonial authorities, and the inexplicable objection to the National Electric Construction Company, rendered these new negotiations far more difficult than would otherwise have been the case, there being the odium attaching to the business as a

CO129-466 - Individuals - 1920 — Page 539

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