Shanghai, 5th August, 1904.
Gzxrieex,—I am directed to acknowledge the receipt of your letter of the 27th ultimo containing your views in support of the application'for reduction of the recent re-assessment of your premises.
In reply thereto I am directed to state that the Council is in sympathy with the view that the additional tax on the Soeychee and other mills falls hardly on an industry not at present fully successful, at the same time it is to be observed that the argument of financial depression, as applied in this case, is one which could be indefinitely extended throughout the assessment with very bad results to the Municipal revenue.
"The Council thinks well to recall to your attention the fact that assessments of this character are based upon the probable rent which would be charged by a landlord if the promises were leased That the Soey-chee mill would not be rented for a less sum than Tls. 1,000 per mensem is, in the opinion of the Finance Committee, beyond doubt, and I am therefore directed to inform you that this figure cannot be abated.
Tam, Gentlemen, Your obedient servant, J. 0. P. Brano, Secretary. Tue Sony Cure Corroy SrmvwtxoCo., Lo., Shanghai.
The meeting then adjourns.
The following are forwarded for publication with the foregoing minutes
Text read from the printed page and cleaned; old type leaves the occasional error.