LOSS ON PACIFIC CABLE.
NEARLY £70,000 FOR YEAR, By Telegraph.—Press Association.— Copyright. London, May 6. The Under-Secretary of State for the Colonies (Lieutenant-Colonel Seely), replying in the House of Commons to Mr. C. W. Bellairs (Liberal member for King's Lynn), stated that the estimated loss on the Pacific cable for . the current year, was £69,000. The Imperial Government, he added, did not propose relaying the line in order to touch at Honolulu unless the colonial partners in the scheme suggested it The length of the Pacific cable is 7858 nautical- miles, and the cost. £1,795,000, was borne thus: —United Kingdom iiveeighteehths, Canada ' five-eighteenths, the Australian Commonwealth one-third, and New Zealand one-ninth each. The revenue fur 1903-4 was £80.118; 1904-5, £87,446; 1905-6, £91,y02: and the expenditure (including £35,000 reserve) for 1903-4, £90,324: 1904-5, £87,751; 1905-6, £86,963. To the above annual expenditure has to be added; a sum of £77,545 for repayment of capital with interest.
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New Zealand Herald, Volume XLV, Issue 13744, 8 May 1908, Page 5
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154LOSS ON PACIFIC CABLE. New Zealand Herald, Volume XLV, Issue 13744, 8 May 1908, Page 5
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