25th June, Te interest in the correspondence published in another column is by no means confined to the two antagonists, the General Agents of the Shanghai and Hongkew Wharves and the Agents of the principal Ocean Steamship lines. A large number of our readers are interested directly as shareholders in the Wharf Company, others as shareholders in one or other of the Steamship lines, while all are interested in anything that increases the cost of transportation, for all of us are consumers of goods that the steamships bring out; and it is all of us as consumers who ultimately Frongkew Wharf Company are about to ay the charges that the Shanghai and
increase by some fifty per cent on and after the coming first of July.
The letters are so explicit that they do not call for much comment. The first objection of the steamship owners is that there is no increase in the charge for steamers under 300 feet in length. Thus the coasting steamers, which make use of the wharves in such numbers, are let off altogether, while the new net catches all the ocean-going steamers, which are now rarely within three hundred feet long. Of this objection no notice is taken in the reply from the Wharf Company, though if the new departure is made in the interest of the shareholders in the Company, there seems no reason why coasting steamers should not pay an increased charge, in proportion to their length, as well as Ocean steamers. 'I'he objection as to an extra payment if a steamer remains more than five days at the wharf has been met to a certain extent, but we think the Wharf Company might be more liberal in the matter of free storage of cargo of steamers detained outside the Bar. The proposed charge on treasure or specie affects a very limited number, and they are, we should imagine, strong enough to protect themselves.
The increase in the tariff now announced is, of course, the result of the Wharf Company having obtained the monopoly here by the purchase in 1891 of the competing Pootung Wharf and Godown Company. As pointed out by the Steamship agents in their letter of the 2nd instant, apprehensions were entertained at the time that this would be the result. At the meeting of the Pootung Wharf and Godown Ao. held on the 27th of June, 1891, called to deride whether that company's property should be sold to what is now the Shanghai and Hongkew Wharf Ca., Mr. A. McLeod, who in his capacity of a Director of the latter company proposed the sale of the former to the latter company, anticipated in his speech that there would be objection to He creation of a monopoly. He said It has been stated that if the Directors of the Associated Wharves acquired the control of the property they would immediately raise the present existing tariff, and that very high rates of wharfage and storage will conic into force. Gentlemen, I can assure you. these statements are entirely without foundation. If you consider for a moment who are the Directors of the Associated Wharves T think il sea not Hikely any large increase iff. First then there is our Chairman, the senior resident partner of Messrs. Jardine, Matheson and Go, As you are aware Messrs. Jardine. Matheson and Ca. are very largely interested in the trade of this piaed, and their contributions in the matter of wharfage of their steamers, and storage of their goods, forma very large proportion of the total revenue of the Associated Wharves. Ido not think Mr, Herbert Smith, Matheson and Ca., is at, all favourably dis. the present representative of Messrs, Jardine, posed to any increase being made in the existing tariff. Another Director of the Associated Wharves is the Agent of the P.&0. Company. They are not interested in any way in the rates charged for storage of goods, but they are very materially interested in the rates of Wharfage, as their steamers are berthed at the Associated Wharves, I know from Mr. Joseph that he would oppose any increase in the existing tariff for wharfage. A third Director of the Wharves is the resident partner in the firm of Messrs. Turnbull, Howie and Ca. Messra, Turnbull, Howie and Ca. are not, I believe, directly interested in shipping, but they are largely interested in the general trade of the place, and they contribute considerably to the income of the Associated Wharves by payments for the goods they store in the Company's The other Director of the Associated Whatves is myself, The partners in my firm have been connected with the Shanghai and Hongkew Wharf Ca. from the time it, was first formed, and I have myself been a Director for a period of nearly 17 years. We are not very largely interested in shipping, but we influence to the Wharves the steamers that come to our consignment and we do all we can to help the Drosperity of the Associated Wharves by Storing all our goods there. I have no hesitia. tion in saying that I should object ye strongly to having the present tariff raised.
think these assurances from the present Directors of the Wharves—who I hope, will remain Directors for some time—will dispel from your minds any idea that the tariff will be made burdensome.
Mr. McLeod is still, we believe, a Director of the Shanghai and Hongkew Wharf, and the Steamship agents not unnaturally draw attention, in their letter of the 2nd of June, to his
Text read from the printed page and cleaned; old type leaves the occasional error.