§ Mr. EVELYN CECILasked the President of the Board of Trade whether he is willing to state what is the percentage on the net profits which is paid to the managers of the Admiralty coasting-trade office at Newcastle?
Mr. RUNCIMANThey are to be paid at the rate of £100 per annum for each vessel, together with 7½ per cent. on the net profits, and they are themselves to defray the management expenses in respect of all office charges and clerical staff. This arrangement is subject, however, to the condition that the total clear remuneration of each of the two managers shall not exceed the rate of £2,500 a year.