THE EASTERN EXTENSION CABLE COMPANY.
[PBB PBBSS ASSOCIATION.] Wellington, April 28. Replying to the Postmaster-General, Mr. Warren, General Manager of the -' Eastern Extension Cable Company, states: —" lam glad to learn that you approve the adoption of the word rate. Your assumption is correct that (here would be no minimum, and three words would be ninepence for a cable. You have apparently rot taken into account e
the cost of a duplicate cable, working expenses, maintenance, and amortiua* lion for both cables. I think you mutt remember that the manager pointed out to you during one of our interview! in London that the Company considered a guarantee of £20,000 a year insufficient, especially as the traffio had not increased as you anticipated; oonsequen'ly there was a loss to the Company since 1895 of over £6OOO a year, which previously hat been ■hand by the colonies and the Company. I therefore think it was only a fair and reasonable request to ask you to revert to the original guarantee, since the net return showed less than one per cent* on the capital invested. I hope the word rate will lead to increased traffio, and thus show the experiment to be a success."
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Bibliographic details
Taranaki Daily News, Volume XXXXII, Issue 94, 30 April 1900, Page 2
Word Count
200THE EASTERN EXTENSION CABLE COMPANY. Taranaki Daily News, Volume XXXXII, Issue 94, 30 April 1900, Page 2
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