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No. 13. The Aqekt-Genedal to the Hon. the Prime Minister. Westminster Chambers, 13, Victoria Street, g IR; _ London, S.W., 30th December, 1904. I beg to transmit herewith copies of the revised estimates 1904-5 and 1905-6, as approved at the meeting of the Pacific Cable Board on the 20th instant. I have, &c, The Hon. the Premier, Wellington. W. P. Reeves.

Pacific Cable amended Estimates (as approved by the Board, 20th December, 1904), 1st April, 1904, to 31st March, 1905.

Receipts. Expenditure. I Actual for Six Months to 30th September, 1904. Estimated for Six Months to 31st March, 1905. Original Estimate for Twelve Months to 31st March, 1905. Actual for Six Months to 30th September, 1904. Estimated for Six Months to 31st March, 1905. Total. Original ■■ Estimate for Twelve Months to 1 31st March, 1905. Total. £ 39,308 £ 41,692 £ 81,000 1,000 80,000 82,089 £ 81,000 1,000 79,000 Second annuity payment Head office (salaries and expenses) 79,000 Head office (royalties, engineers' fees, advertising, and cost of 89,810 remitting money Home) Cable stations (salaries and expenses) Cable ship — Gross expenses ... 17,610 Less earnings ... 5,118 £ £ 77,545 2,440 £ 77,545 4,820 77,545 Traffic revenue Less actual and estimated payments on account of westward date and time and duplicate copies Estimated deficit 2,380 590 600 1,190 1 5,800 14,698 15,024 29,722 29,722 7,448 660 15,500 10,262 660 19,500 12,492 1,320 35,000 19,250 1,493 35,000 Provident fund Eenewals and depreciation ' £162,089 j £168,810 £162,089 £168,810