The considerations to be held in view in selecting one of these tenders are certainl the conditions imposed by the specification:
"The caret lly studied conditions approved by both Councils show, in-our opinion, the total amount of their requirements and desiderata, Tt is therefore necessary to ascertain 1,—Which are the tenderers accepting all the clauses of the particulars and specitica-
Which are those who having accepted without any restrictions, present a imum of guarantees, facilities, advantages, and privileges.
3.—We must then see if the advantages offered by x toaderer who has rejected some of the conditions are not of such " nature that the Wunicipatities have a real interest in abandoning part of their pretentious in exchange for advantages of perhaps. a different order but incontestably of superior mature.
4.—Anyhow, whoever receives the tract it is necessary that both Municipaliti be as independent as possible. Any vague and complicated contract wherein the rights of the.one and the oblig.tions of the other should not be defined in a clear manner, can only originate disputes, misunderstandings, and possible lawsuits, Tt is with these practical considerations i+ view that we have stulled the six tenders for local Tramways.
1.—Racine, Ackermann (Shanghai Tramay Company.)
System—A. Trolley with overhead wires.
Conditions.—B. Ristriction to the particulars and specifications, The tenderer does not agree to make at his own expense the altera ions required in bridges, roads, _ete., but pays to the Municipalities a sum of '£3,000 to cover the expenses for that, purpose Restriction in particulars and specifications ast" paving.
Cost. C. Total estimate at£300,000.
Speed.—D. $ m les an hour.
Weight of Rails. -E. Solbs.
Repurchase.—F, \fter 15 years' working, based on the average of the last_5 years. That average will represent the figure of" rent to be paid by the Municipalitis dw ing all the time t" elapse between the date of repurchase and the expiration of original franchise.
Duration of feanchise.—G. 50 years and under certain agreements even 40 years.
Royalty.—H. 10% on the gross receipts when the receipts are sup-rive to £3,00 per mile ($32,000.)
Current.—I. Power: 500 to 6:0 volts.
Engines—J. Number of engines, boilers, dynamos not fixed.
Time required for Construction.—K. The buildings ete., will he finished 21 mouths after the contract is male.
(Draw lans, references).
2.—Union Blectric Tramways Company.
System.—A. Trolley and overhead wires.
P. and $.—B, Arts, 8 and 46 of the Council's conditions not entirely accepted.
Cost.—t". £350,009 to £530,000.
Speed.—Not indicarei.
Weight of Rails.—E. 4 Kilogs per metre.
Repurchase.—F. After 15 years at a price bised on the average of tae receipts (net or gross) of last lires years. That average, multiplied by 25, will "show the toral sum tw be paid. providel, however, that total sum be not inferior to the cubital used.
Duration of franchise.—G. 50 years.
Reyalty.—H. After having puld from the profits (net?) s% to the capital, 50% of the remainder.
Current. I. Power: 550 volts.
Engines—J. Three boilers with 185 metre surface (Engines and Dynamos Time required for construction 2 months, (Plans, Drawings, estimates, tender very well drawn up, clear and fully detailed 3.—Compagnie Generale des railways Ssstem—A. Trolley with overhead wires.
P. and 8.—B, Full acceptation of all conditions.
Cost—C. £ 311,257.
Speed—D. 2 Weizht of Rails—E. 94-1bs, Reyurchase—F. After 15 years' working under the following conditions From 7 years' working, deduct the 2 years during which the receipts have been the highest, take the average of the 5 others, adi 95% to that avenge; the figure thus obtained will represent the yearly payment be brid to the concessionaire during 35 yenrs: should the total amount of the 35 payments be paid at the time of repurchase, a discount of 4 to be allowed.
Time of Corcession—G. 50 years.
Royalty—H. Very clever combination to be looked into. It we have well uwlerss od the Co.'s propo-als they are as follows:
Before paying a Ryalry to the Muni ties there must be deducted 1.—Taxes of every natur '—General and working expenses.
4% on the Capital.
5.3% However, in case of being not successful the Compuity is generous enough not to claim anything from the Municipuities. It will itself bear the losses, which will be com-[eis only when all the deficit of the com ensated for, so soon as receipts increase.
Biuaicipalities 25% of the profits; but no riy is covered that it will allow to the profits before the above amounts (1° to 5°) are deducted.
Current. 550
Text read from the printed page and cleaned; old type leaves the occasional error.