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all Piers
G
an arrangement which seems to have been overlooked
All sorts of developments are
in these discussions.
possible along the Front - a small typhoon refuge was
J
seriously considered at one time off West Point and other
Ferries need Pier accommodation and Government needs to
retain the freest possible hand consistently with putting
no unnecessary obstruction in the way of private enterprise.
Granting a long period Ferry Monopoly with Pier Rights is a
cramping of the front.
For ten years Government can only demand from the
Star Ferry the use of a limited number of boats of a certain
maximum size, but while stipulating that fares shall not
exceed a certain maximum, may "at any time require the lessee
to reduce the said fares". This condition seems to give
Government a very wide power indeed: but it is far from
being as wide as it looks, as the difficulties of enforcing
it are very great. Not so long ago, Star Ferry fares were
reduced from 15 cents to 10 cents, first class and if I
remember correctly (I cannot find the reference and conclude
that the business was transacted verbally without written record) the reduction became a matter of considerable
controversy. In a point of this nature everything must
turn on a Company's books: behind them a Company always can
entrench itself unassailably, as there are many methods of
utilising ( or even concealing) profits, and it is only
necessary to show a fair return to shareholders.
Government attempts to control private enterprises by such
conditions in advance have been very unsatisfactory. It is
even possible to consider the whole Rents Restriction
Experience from the same angle.
4.
Other
But a more serious item on the debit side of the
Government account is that a long lease to a private firm
sacrifices opportunities for development of the Colony.
A Company cannot take the long view a Government should
take: and it cannot take credit for indirect returns, as
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