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42
1876, an initial or standard price of gas was fixed, entitling
the shareholders to a larger dividend with every reduction in
the price of gas. The utmost benefit which the gas consumer
could gain would therefore be half the amount now paid by
the Companies in the form of coal dues, and the remainder
would reach the pockets of the shareholders at the expense
of the ratepayers. Any gain which the Water Companies
might reap would go entirely to the shareholders, with the
result that the capital value of their undertakings would
increase. In the event of these undertakings being subsequently
acquired by a public authority, the ratepayers
would have to pay increased compensation merely because the
Water Companies had in the meantime divided larger profits,
a portion of these profits representing the saving to the
Companies, by the remission of the coal dues, again at the
expense of the ratepayers.
Having regard to all these considerations, and to the
many additional charges thrown by Parliament upon local
rates of late years (see page 27), the Vestry memorialized
the Government to reconsider their determination, and asked
the Member of Parliament for the district (the Right Hon.
W. H. Smith) to support the continuance of the dues.
INHABITED HOUSE DUTY.
The attention of the Vestry having been drawn to certain
anomalies in the incidence of the Inhabited House Duty, the
subject was referred to a Committee for consideration, and
upon their report, a communication was addressed to the
Board of Inland Revenue with a view to the Duty beingassessed
in accordance with the spirit of the Acts relating
thereto. The Board in their reply did not hold out any hope
of a general removal of the anomalies referred to, although