TO THE RIGHT HONOURABLE
SIR PHILIP CUNLIFFE-LISTER, G.B.E., M.C., M.P.,
HIS MAJESTY'S SECRETARY OF STATE FOR THE COLONIES.
The Humble Petition of Hong Kong Tramways, Limited.
SHEWETH AS FOLLOWS:--
1. HONG KONG TRAMWAYS LIMITED, YOUR PETITIONER, recognises the unusual nature of a Memorial such as this from a public utility transportation undertaking appealing against the decisions of His Excellency the Governor for rarely do such companies individually operate under direct control of Government. In the Colony of Hong Kong, however, the Colonial Government takes the place of the usual city administration by Municipal Council. Consequently your Petitioner has open no other constituted authority to which to appeal.
2. Your Petitioner derives its powers and has its being by virtue of THE TRAMWAY ORDINANCE No. 10 of 1902 of the Ordinances of the Colony of Hong Kong.
3. A brief recital of your Petitioner's inception in the year 1902 and its sub- sequent history is, for purposes of reference, set out separately in Appendix " A " hereof.
4. Therein it is shown—
That, in consequence of serious losses incurred in the uphill struggle of fostering the public passenger traffic facilities of Hong Kong in the early years, recourse was necessary in the year 1910 to a drastic can- cellation of 75% of the subscribed capital of the company.
That, after continued patience and industry these initial reverses were sur- mounted and two years later, but no less than eight years after opening its tramway to public service and ten years after its capital was sub- scribed, your Petitioner was enabled to declare a first dividend on the capital so reduced.
Further, that only after a period of fifteen years from the date of this writing-off of £243,750 was your Petitioner able to restore its capital to an equivalent of the £325,000 originally subscribed.
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