§ MR. RUNCIMANI beg to ask the Secretary to the Treasury what is the estimated loss on the working of the Pacific Cable for the coming financial 916 year; what portion of the loss will fall on the taxpayers of the United Kingdom; whether the Admiralty is responsible for the decision to take the cable viâ Fanning Island; what is the increased cost of construction by this route as compared with the alternative route viâ Honolulu; and what is the amount of local business obtained at Fanning Island.
§ THE FINANCIAL SECRETARY TO THE TREASURY (Mr. HAYES FISHER,) FulhamThe loss on the working of the Pacific Cable for the coming financial year is estimated, on the basis of the present receipts, and after allowing for interest and sinking fund and depreciation, at about £95,000. Five - eighteenths of the actual loss will fall on the taxpayers of the United Kingdom. The route viâ Fanning Island which the cable follows was adopted on the recommendation of the Pacific Cable Committee, over which Lord Selborne presided; and was selected in order that the cable might touch on no territory which was not British. It is estimated that if the cable had been taken viâ Honolulu the cost of its construction would have been about the same as that which has been incurred; the only local business at Fanning Island is practically that arising from passing vessels, Lloyds having established a signal station on the island.