The Committee met on July 31, 1922 when the Terms of Reference, set forth in Resolution VII passed at the Annual Meeting of Ratepayers held on March 27, 1918, were the subject of discussion.
"fo consider and report when ther it is desirable in the interests of this Community, that the business and undertaking, and the lands, buildings, plant, machinery and effects of the Shanghai Waterworks Company Limited should be acquired in pursuance of the provisions contained in Clause 9 of the Agreement between the Company and the Council dated the first day of Members could not help but conclude that, on a true construction of the Terms of Reference, much more was required of them than mere statement of their views upon the principle of Municipal ownership of the water supply. At the same time it: seemed to them that they could scarcely be expected to comply fully with the Terms of Reference, without exhaustive investigation of the financial considerations involved, which was impos-|®: sible in the absence of much data which it would necessarily have ken some considerable time to provide, involving a delay such ds, they understood, both the Waterworks Company and the Council particularly desired to avoid.
Under these circumstances and in the view that the financial considerations were after all more particularly a matter for the Council's concern, members have thought it desirable to confine themselves to matters of principle and have not in any way concerned themselves with what may be termed matters of finance, Recommendation of Committce.—_The Committee therefore records {the unanimous opinion that the Water Supply should be under Municipal contro) and ownership, and, subject always to financial considerations, recommends that action should be taken by the Council at an early date to exercise such contro] and expownership.
In making this recommendation the Committee desires further to place on record its opinion that the' differences between the Company and the Council, as disclosed by the data submitted to the Committee, are such that no really satisfactory settlement would be likely to eventuate even were negotiations to this end continued A. C. Crear (Chairman)!
Text read from the printed page and cleaned; old type leaves the occasional error.