Tariff of Charges.—Consideration was given in May to the company's tariff of charges. The company, while maintaining that an increase in the tariff was justified despite the improvement in the company's position due to the increased demand experienced as compared with that anticipated in September, 1938, when the matter was last under review, suggested that reconsideration be postponed for a further six months in recognition of the abnormal conditions prevailing. The company's suggestion was agreed to.
In September, approval was accorded to the company's application for permission to impose a surcharge of 50 per cent. on its tariff, in order to offset to some extent the greatly increased costs in local currency of operation and dividend requirements due to the fall in the exchange value of the Chinese dollar. This surcharge was imposed in respect of accounts for consumption periods ending on and after November 1.
Directorate.—Under Clause 25 of the company's Franchise Messrs. R. G. MacDonald and L. T. Yuan were re-nominated by the Council to serve on the Board of Directors of the company for the Municipal Year 1939/40.
Text read from the printed page and cleaned; old type leaves the occasional error.