To the Editor of the "Nowrn-Cunwa Dary News."
Sin—In view of the recent correspondence in your columns, may) Ibe granted the same hospitality, to point out, that the increase in fares, as announced by the China General Omnibus Ca., appears to be unjustifiable and certainly pre mature, My reason for that no public whose shaves are quoted on the local Stock Exchange, at something approaching 100 per cent loan, by the most forti imagination, claim any justification, for immediately teasing the burdens of the travelling public.
The Shanghai Municipal Council, should not peri it this exploitation while fen Tael" share, stands in the! vicinity of Tls. 19." This figure is the only barometer, as to the financial position of the company con-
Operating as it does, without Jcompetition, as a public utility ccncern, there should be no obligation undertaken, except to pay a reason-maximum 8 per cent.) on the original issue price of This would be " perfectly good: and reasonably safe return, and it due to the travelling community, that fares should be regulated, to. pay, only a reasonable return, on the issue price. If something is not done, where is this kind of thing] going to stop? If an investor buys; these shares to-day, why should the public have to foot the bill, to the extent of paying dividends with the shares at double their issue price? If the shares are a fair purchase, Jat to-day's quotations, it is bordering on insanity, if the S.M.C. permits increased charges. This must obvious, Recent!
we had the case of or ses, throughout the hire car services of Shanghai, All Kinds of facts were as to why the increases were necessary; yet, within a few months, we find ourselves back to the old rates, presumably because one enter pri concern, discovered, that they could ter all, work toa $1 minimum.
Regarding the price of gasoline. Many of the local pump stations, will give 10 per cent. discount, off the published selling prices of the "Big Three." In fact, I received a jcireular (from one station), to this effect scme three months ago. If. retailers have sufficient margin, to offer a 10 per cent, discount, why is it that these prices are not properly controlled, and the consumer given the benefit of the lowest workable retail p Lam a moterist, with a good deal of sympathy, fo1 those less fortunate, who must use other means of transportation, We have ancther case in the ex:
¢|traordinary advances which are being asked, by the local Waterworks. All this, apparently to keep) up dividends, to be extracted from a community which is already strained to breaking point: by the cost of living, Ordinary business houses cannot possibly give substantial Tae! increases to their employees, for, the simple and clement-reason, that most trading companies, have been working] at a loss, through several years of acute ivusiness depression. Despite and much as employers] would like to be able to render further help to their employees, all forms of public services, and other! charges, which it might be possible to keep within reasonable limits, re liable, and/or allowed, to be jumped, to almost any figure, for contre) the want of some sort of reasonable
I would mention that during the War, profiteering was a crime in England, and I submit, that a well chosen '"Profiteering ' committee," would be a blessing to the Shanghai community at the present time. Such a committee, composed of real business men, who would consider the position from both sides, could do nothing but good in the present atmosphere, and unless something of the kind is done, the Shanghai Municipal Council, might as well (as an alternative) get out immediate plans for a "work house" in order to accommodate those who will have no further means to carry Shanghai
Text read from the printed page and cleaned; old type leaves the occasional error.