Your Committee have the pleasure to submit to you the following Report of their proceeding Soochow Creel: Bridge—Purchase of by the Commnuity.—Your Committee, in accord ance with the terms of Resolution NI, passed at the meeting of Rate-payers, held on the Gth May last, wrote, om the 8th of that month, to Messrs. Hogy Bros., enquir~ ing the terms upon which the Company would be willing to sell, to the Council, the iron bridge then m course of erection, together with existing obligations, and the rights, if any, said to be possessed by the Company under the so-called charter.
On the 29th May, your Committee again wrote to the Company requesting to be favoured with a reply to their previous letter.
On the 30th May, Messrs. Hogy replied that—" It is not through inadvertence that the letter of the 8th inst, had not received reply, but since the accident to the iron bridge, it seemed desirable that we should have some further data than at present in our ion, before entering into nego-dations with the Council. We shall address you shortly on the subject."
With the view of facilitating negotiations towards the end in view, your Committee proposed the following terms for the consideration of the Company Terms proposed by Companys remarks.
"TheCounceilshall not consider "that Council. The Company do grant to the Bridge they would be justi-Company an exten- fied in binding them-sion of time for" the selves to complete the completion and open- iron brid; by Bist ing to: traffic of the March 1872, though new lower bridge, say every exertion would up to the 31st day of certainly be made to March 1872." dose. Weighty difiities have arisen, which may cause delay, not that this is expected, for we believe that the scheme which has been devised will answer.
It is desirable, however, that our Engineers in England should have full time to consider it. thoroughly.
Cannot be accept-In the event of ed. The Company's their failure ¢ t t to interests are to have complete the new the bridge completed bridge within the within the shortest ifed time, they possible space of time; shall pay to their they are so un-Council the sum of fortunate as to be Ts. 1,500, as and by delayed, it would not damages. should find them-way of liquidated be fair that they
selves additionally burdened to the extent of Tls. 1,500.
Your Committee reconsidered this clause, and were willing to modify the wording, so that the "penalty" would be optional, not absolute.
Terms proposed by Company's Remarks Council in their letter 1 their letter of of 12th June. Mth June, "Phe Council shall" It is quite out of have the option of at our power to accede any time during the to. The Chief Share-continuance of the holders are in Eng-agreement pur-land and America, chasing all, or any and no one here partof, the property la authorized so to of the Company, with dispose of their pr all rights attaching to perty." it, or vested in the Company by virtue of their alleged charter, at such price as may: be agreed upon be-
and the Company, or tween "the Counci if they shall' be une able to agree, as may be fixed by two Arbitrators, one to be appointed by each party, or an umpire to be chosen by the Arbitrators."
After some semi-official conferences between members of the Council and Mr.
J. Hogg, it was arranged that that gentleman should be invited to meet the Mr. Hogs aceurdingly attended the meeting of the Board on the 3rd instant. The Chairman explained that the object of this meeting was to definitely ascertain whether or not the Company were prepared to sell the lower Bridge. Mr. "Hogg replied, that on this point he had little to add to what he said in his letter of the 44th June, He recapitulated the statement, as to the absence of many of the shareholders, atid that their agents could not dispose of their property without special authority, indeed one gentleman had refused to sell his share at all. Mr. Hogg suggested as a basis for the Council's consideration: The cost of the present bridge as it now stands, or after completion, allowing a discount for the unexpired term of the charier. The bridge
take about Tis, 10,000 more to complete the present cost Tls. 33,000, it would it. The unexpired term of the charter was about 18 years. he discount would be computed upon an assessment on the probable receipts for the next 18 years, based upon the actual receipts for some years past, Commutation of Foreign Tolls.—Messrs. Hogg Bros., on the 30th May last, sugyested "to the Council that it would be well to consider what course should be adopted after the end of June in regard to the Company's contract with the Municipality, as it was evident that, owing to an uncontrollable accident, the new iron bridge could not be open to trafic. This enquiry was supplemented by a letter from the 8 firm dated Ist June, stating "that the existing agreement with the Council will expire on the 30th inst., by reason of the inability of this Company to fulfil the clause binding them to open the iron bridge for trottie by the end of this month (June.) That the position now is, that as the agreement is on point of expiry, a fresh one must be entered into, if it be deemed expedient to continue the commutation of Foreign tolls; and that the Council must. recognize that they (the Company) are negotiating, on behalf of the public, with the owners of private property which is in reality more valuable without, than with, the commutation that has lately been accopted."
After due, consideration of, the question of commutation of Foreign tolls, your Committee, with your concurrence, made the following proposition to, the Company feeling ass would be acceptable to the public, not only as a matter of expedieney, and convenience, but as fair towards the bridge proprietary, and leaving the Rate-payers free to take such.action with respect to acquiring the present bridge, or constructing one, as may seem expedient.
"That a temporary arrangement, be entered into with the Soochow Creek Bridge Company for the commutation of Foreign tolls for one year from Ist July 1874:
"1, That the bridge be open to Foreigners as under the agreement dated 10th January 1870.
"9. The assessment for taxation on the Bridge property to remain the same.
The present footpath to be removed.
"4, The Company to keep the Bridge in repair, to the satisfaction of the Council Engineer, or other officer acting in that capacity.
Ts, 750 half-yourly in advance,"
"5, The Council to py the Company Messrs. Hogg, in their letter of the 29th June, agree to clauses 2 and 6, but object to clause 3, as being better left in abeyance—the Company not being disposed to sanction what they considered a waste of money. Subsequently clauses 3 and 4 have been agreed to by the Company.
Your Committee, in the earliest stage of negociations, conveyed the assurance to Messrs. Hogg Bros., of the desire of the Council to treat with the Company in an amicable and liberal spirit, consistent with their obligations to the public. It li therefore with some degree of regret your Comittee tind Messrs. Hogg, in the closing letter of the correspondence, charge the Council "in their correspondence, of dictatorial tone, which is not delegated to them by the Rate-payers."
Text read from the printed page and cleaned; old type leaves the occasional error.