§ SIR GEORGE CAMPBELL (Kirkcaldy, &c.)asked the Postmaster General, If the House may depend on him to continue to resist the attempts of the Submarine Telegraph Company to reestablish the monopoly under which the country has so long suffered?
§ MR. HENNIKER HEATON (Canterbury)asked the Postmaster General, Is it true that, after enjoying a monopoly of the Cable traffic between this country and the Continent for the past 20 years, the Submarine Telegraph Company have obtained the further concession of an extension of time for three months valued at £25,000; and, is it true that, notwithstanding the fact that besides paying heavy directors' fees and declaring dividends of from 15 to 25 per cent for many years, the Submarine Telegraph Company have obtained the promise of the Government to grant a bonus to each shareholder on the conclusion of the term for which the monopoly was granted, beside purchasing from the expiring Company the whole of their old Telegraph Cable and working appliances at valuation?
§ THE POSTMASTER GENERAL (Mr. RAIKES) (Cambridge University)The Submarine Telegraph Company have been informed that it is not the intention of Her Majesty's Government to agree to any renewal of the concession to them which will expire shortly. No agreement has been come to with the Company as to the purchase of their plant and transfer of their undertaking; and I do not think it would be to the public interest that any statement as to the details of negotiations should be made until some definite decision shall have been arrived at. I may say, however, that the inferences suggested by 869 the Question of the hon. Member for Canterbury are very inaccurate.