We gather from the tenders that those which offer the most serious advantages are:
L—The Shanghai Tramway Syndicate (Durand.)
2.—Onion Electric Tramway.
B.—Syndicat Lyonnais.
4.—Compagnie Generale des Railways vole étroite.
Considerations on the choice of one of the tenders on the point of vic of the advantages consented to the Municipalities. tenders of the Union Electric Tramway and Necessity of public book keeping if the Compagnie Generale des Railoags Gtroite are accepted. Those two companies regard before everything making secure their capital, the latter under such conditions that it must be doubtful whether anything would be left for the Municipalities.
Syndicat Lyonnais.
Serious advantages are offered, affecting not only the public services of the Munit cipal tis (Lightig of Streets. not yet lighted, Yovomotion, etc.,) but facilities for. resuming porscssion of the line after 40 years'{working.
But the Royalty is small; indeed we see that' £80,000 ross receipts only bring into our safes $40,000, and if we {take as a comparative example a receipt of $1,200,000 (vide ruble shown above in connection with the Shanghai Tramway Syndicate's tender)"when the said Shanghai Tramway Syndicate would be Paying 8 $326,000, we would receive from the Syndicat Lyonnais $144,000.
That is the maximum amount che Syndicat Lyonnais would pay under the above cooditions is unnecessary to say that the difference is enormous if we go on smaller receipts of $60,000 per mile, and becomes still larger if going farther. incontestably. the Shanghai Tre We therefore conclude by saying. that mway Syndicate (Durand); guarantees us the most advantages.
It is well to add that as the tramways are not likely to make profits during the 3 first years this renders the more appreciable the offer of the Shanghai Tramway Syndicate (Durand), to pay immediately a considerable royalty.
L'Ingénieur de la Municipalité Franco A. Camus.
Tesper oF THs Suaxcuat Trasway We, the undersigned, the Shanghai Tramway Syndicate, Limited, of 63-64, New Broad Street, London, and P. &'B. Durand, Tramway Constructors of 9, Rue President Carnot, Lyons, and 38, Rue dela Chaussée d'Aatin, Paris, France, declare.
That we have examined the particulars referring to the concessions for the Electric Tramway of the Municipalities and Authorities of Shanghai published in August, 1898.
That we accept unreservedly all the conditions contained in the said particulars and sill construct and equip the said tramways cordance with the said clauses and conditions and in addition we agree to the following special clauses and conditions which would he inserted in the Agreement to be entered into with the Muvicipal We tender for a period of fifty years with an option of repurchase at the end of fifteca years and we offer to pay the following yearly Toyaltios to the Municipalities and Chinese Authorities, viz dollars Mexican for the first year of working of the tramway with an increase of one thousand dollars for each succeeding year.
We offer therefore to pay a fixed sum of—$50,000 for the Ist_ year of working.
$51,000 2nd $52,000 4, 3rd and 0 on up to $99,000 for the 50th year of working.
B,—In addition to the above fixed yearly sum we are prepared to pay a proportion of all gross receipts exceeding twenty thousand dollars Mexican per mile of tramway road per annum, viz 10% on all gross receipts from $20,001 up to $21,000 21.001—22,000 12) " 22,001 4, 23,000 13% 'i " 23,001, 24,000 and so on in proportion up toa maximum of 40% on all gross receipts exceeding $50,000.
make these payments A and B clear, we give the following examples, the first being for the fifth year of working, bised on gross receipts of $25,000 per mile and taking the length of the tramway at 24 miles Fixed sam seeecceone 54,000 10% of 1,000=100 x34
Text read from the printed page and cleaned; old type leaves the occasional error.