The charges made by the company for gas shall be fair and reasonable; any dispute or complaint made by not Tess than one hundred consumers may be referred to arbitration.
"As from January 1, 1934, the com. pany shall pay the Council a royalty. equal to five per cent. of the income of the Company represented by the gross sales of gas (excluding residual products) for all purposes in the Settlement and on roads owned or controlled by the Council beyond the limits of the Settlement after deduction of a sum paid by the company to the Chinese' authorities in respect fof certain services as on March 27, 1934. This royalty will be paid half: yearly. The Council is given the Fighe to inspect the company's account. books, while the company is at liberty to increase its capital as may be necessary for the fulfilment of its programme and the development of fis business, on which Tatler matters the Company will consult the Coun. cil. If the company desires to raise capital in any currency other than hat of China, the consent of the Council must be obtained, The company is to furnish the Council with annual reports on the "Then follows an arbitration clause. and an article giving the Gouncil power to determine the franchise Should the company not discharge its obligations.
The full text of the Franchise Agreement is published in the Municipal Gazette on May 3.
Text read from the printed page and cleaned; old type leaves the occasional error.