Tariff of Charges—An application made by the company in December, 1938, for permission to impose a monthly surcharge on accounts for consumption periods ending during the months of January to April inclusive, in accordance with a sliding scale based on the sterling value of the Chinese dollar, was disapproved. In view, however, of the necessity for additional revenue to meet in-at that time, and continuation of the surcharge at 23 per cent. was authorized. A further application for an increase in the surcharge based on estimates calculated at an exchange rate of 6% pence to the Chinese dollar made in July was also negatived with the assurance that the matter would be reconsidered in September in view of the further serious decline in the exchange value of Chinese currency.
A thorough investigation into the company's position, carried out following the submission in August of revised estimates based on an exchange rate of 3% pence, disclosed the need for additional revenue to meet the greatly increased costs of operation and an increase in the surcharge to 80 per cent. in respect of accounts for consumption periods ending on and after November 1 was authorized,
Text read from the printed page and cleaned; old type leaves the occasional error.