1 78 TlMEHRI. 



tive Statement of the probable revenue to be derived from this source, as 

 compared with 1887 and 1888, and the whole has been compiled and 

 arranged in book form as per proof herewith submitted, and will be 

 ready in a day or two. The Committee recommends that the members 

 of the Combined Court be supplied each with a copy. 

 2. — The New Telephone Service. 

 This matter has been carefully considered, and His Excellency and 

 the Honourable Members of the Court of Policy informed of the Com- 

 mittee's views on this most particular subject. 



3. — The Official Prices Current. 

 No. 3 of the Prices Current has now been issued, and a copy of each 

 herewith submitted for your approval. 



4. — Marine Insurance. 

 The following question of Marine Insurance may be interesting to the 

 general public ; the decision of your Committee is herewith appended. 

 A cargo of Coals is consigned to A and covered by Insurance. On 

 its arrival here a portion of the cargo is sold to B at so much per ton free 

 from alongside. B sends his lighters for the portion of coal which he 

 has purchased ; one of the lighters in going ashore with a load of coal 

 sinks, and the coal is lost. Query : Are the underwriters of A respon- 

 sible for the lost coal ? 



After careful consideration the Committee was of opinion that the 

 underwriters of A were liable for the lost coal. 



5. — The charge made by local Banks on Bills of Exchange sold by them. 

 In connection with this matter the following resolution was submitted 

 to the Government, viz : 



" That in view of the local banks exacting stamps, on Bills of Ex- 

 change sold by them, from the buyers, contrary to the intention of the 

 Stamp Aft, the Government be requested to raise the licence on Bank- 

 ng establishments as per Tax Ordinance from $500 to $2,000 per 

 annum." 



6. — The Tax on Insurance and Assurance Agencies. 

 It was proposed that a tax based on the percentage of the 

 premiums received (and calculated so as to raise an equal revenue) be 

 charged, instead of as at present taxing all Insurance and Assurance 

 Agencies the sum of S250 per annum, irrespective of the extent or 

 magnitude of their business. 



7. — Marine Sub-Committee. 

 A Marine sub-Committee has been appointed, whose duties are to 



