Shanghai, Sept. 30, On September 18 the Public' Utill~ ies Committee of the Shanghai Municipal Council gave consideration to an application from the Shanghai Gas Ca, Ltd., accompanied by a revised statement of expenditure and Fevenue for 1999 based on an exchange rate of 3%d. to the Chinese dollar, for permission to increase the existing surcharge of 23 per cent. on the gas tariff so as to enable the Company to obtain addition to meet increased costs of operation due to the fall in the exchange value of the Chinese dollar.
In June last, publicity was given to an application submitted by the Company in May for an increase in the surcharge, which was disapproved by the Council on the ground that having regard to all the circumstances, and the position disclosed by an vestigation into the—Company's Anances no increase seemed Justified at that time, 'AS a result of the fall in exchange which took place immediately after this decision was arrived at, the Company in July submitted revised estimates based on an exchange rate of 6Y4d. and again applied for an increased operating costs. This applica ton was also disapproved since it was considered that after allowing for the effect of the continued ex; the Company's business and making such other adjustments to the Company's estimates even with exchange at crease in Surcharge the necessary.
Text read from the printed page and cleaned; old type leaves the occasional error.