Further Report On The Free Port Of Copenhagen

COPENHAGEN. 5 Government guarantee, to beyaid-off in 60 years. The remainder, about 130,0002, is partly contributed from the yearly revenue of the port, and the rest will be raised by loan, either in a bank or by harbour obligation, in the proportion of 55,0007. to 75,0007 The buildings, warehouses, &c., with the exception of the central electric station and plant, have been erected by the Free Port Company, Limited, with a capital of 4,000,000 kroner (about 225,000/.). The total actual expense of the company up to the present moment would appear to have been about 250,000/. The electric station has been built and fitted at the expense of the Berlin-Allgemeine-Electricitäts-Gesellschaft, and that society undertakes the whole management and distribution of electric power in return for such payments on the part of the Free Port Company as are calculated to enable the latter to pay off their debt, interest, and capital in 30 years, when they become owners of the building and plant. A further sum of about 1,000,000 kroner can be claimed by the company from tlie Government for the necessary railway lines, cost of expropriation, &c. It is said that the company intend shortly to enlarge their capital by 500,000 kroner. The total cost of the enterprise so far may be calculated as from 20,000,000 kroner to 24,000,000 kroner (about 1,100,0007. to 1,300,000/.), in which is included 4,000,000 kroner for the Nordhavn, which was in existence before the Free Port Pill was passed.* The receipts of the company will consist in the rent of build- Receipts, ings and land, payments for the use of cranes, light, electric power, and labour. Of the net proceeds 5 per cent, will be devoted to the maintenance of the harbour, plant, &c. The surplus will be divided in equal proportions between the company and the Harbour Board until the former shall receive 4 per cent, on their capital. Should there be further profits they will be divided in the pro- portion of 1 to 4 between the company and tlie Harbour Board until the latter also receives 4 per cent, on their outlay. Within the boundaries of the free port no customs duties of any kind will be levied, and the customs officers will have no authority. The following, according to Mr. Hansen, are tlie charges in Charges for the free port for a steamer of 1,000 registered tons inward bound steamers, with full cargo and outward bound with part cargo :— * The cost of the construction of the free harbour and the buildings connected with it appears to me, considering the amount and excellent quality of the work done, to be extremely low. Separate contracts were made by the company for each portion of the work, thus, I am told, minimizing the contractors’ profits. Tlie labour employed was almost exclusively Danish, tlie exception being in tlie case of skilled work connected witli the buildings and plant which, as in the ease of the electrical station, was confided to Germans. I cannot ascertain that any of tlie materials used, except the iron railings surrounding the port, came from England. Sueli articles as could not be produced by native firms were made in Germany. —V.E.H.C.