be ray men interested, that the failure of any
mu toky rod is contrast prevents
les price of this. Let n think of any one
THE SHARE SALĖS DIEL..
MEETING OF THE CHAMBER OF COMMERDE.
he thinks it te leat iu. Ho goes into the marketing for the rise ar provide vont a man bey-some other ecsatinent rundered it,mora or less As far as my keowledge goes I do not kun. Holliday, de. an F. Headerson 1 Secretary) this morning by Mr. Whitehead, and in munay month there are two or three failures of person
fiens te rise wil the buyers may have been of gambling which exists in altaost ovary breast hura of any olsim for damages. Almost in- ciation would go a long way towards bring. was to stap olags of memory serves me, will be down before they reach him. A man tho saras alive tho Bill is passedes they do w
plause).
ress market, and a feos wirktet meena-nat a market Imikil foa noaparatively fow
ment
MAIL SUPPLEMENT TO THE "HONGKONG DAILY PRESS,” JUNE 1814, 1001)
the day care or which they were bound to takej bavo a very grave affect on the market opposition to it, more especially when it is if you don't know what your dinese is you onn't) FINANCE COMMITTEE.
of the part throw panes se enganīs operations in Woll, wow, don't forget that every one of thous delivery of the shares and pay for them thoes if it is passed. It will involve a emusiderable admitted that its design is worthy of com apply it right remedy. I think therefore the At the conclusion of the Council meeting shares, I think I would not have vory grost difi- contracts as soon as issand may be rosold. Say shares bad faila in price instead of going up, ampantoftremble, extra treable, on every dealer in mendation I must ay that I believe that wisest plan for va, sa Ido not believe there is any there he meeting of the Finasco Committee. palty in shewing yon that the present dead-look a contrast is issued for lou slanos arutioned by they either had to falu thok up at a prics shares, every broker and bank clark. If this Bill the opposition shown to this Bill is chiefly inside harry for pusleg this Bill is to take The Acting Colonial Secretary presided, in affairs a more or less attributable to wasé I maber, the man to whom he has sold it bns than far in excess of their roarket value or else have is passed, a man wanting to sell his shares manat because of the rostriativa alaracter it would evidence on this one partionlse paint. I am cur- The CRAIGMAN mid the only vote before the sannot but regard as a system of gambling which shares ander bis control, and he calls them to hack to allow Usa abares to bu suid on the market send to the Bank and find out the numbers, have on the sale of charms by those parsons tain that once it is clear what is the real nause Committee was one of $1000 for the exleusion is Dat justifiable on say moral ground whatever. some ono olte, arul tuo ten shares sro sold if for whateter they would fetch and go into debt then these must be inserted in the ounleast, and who do not possess them, and I am satisfied we shall all be ready to support any reasonable of the Peak water supply to Magazine Gap. Mr. (Applages.) It is all rorg woll to say that these there is a little excitement in the market, to for the differemo, Will the passing of this, Dil pirhans by this time he has lost the chapes of that I am right, I am convinced I am measure for putting down the evil. If the aril Cooper had sent to his red sad said that he persons who buy foolishly. whatever their mesus fly or one hundred people beince sotiling day. interfere in the last with that olas of beings Padling. Or le may have a lot of shares in the right, in mying that the unlimited sale of has been named by speanlation in plures, inde was prepared to go an with the work at ones. may happen to be, must look after the adver and If that could be checked it wight do some good. Why did these gentlemen gointothat speculation? Bark and Love gold a number of theta on orders shares without any numbers or marks upon pondent of short sillits, by which I understand This extension was included in Mr. Chadwick's that the law should not interfero for their But that men, bating sold those two thousand Is it peulat or legitimate business? It lef delivery, but through time carelessnas the them has had the effoot of raising a very persons selling abaros ust in their possession or solene.
protection; bat, gentlemen, there is and a thing shares on time, employs the other thousand in very hard to draw the line and any what is logi- wrong shares ar slalivered and when a contract large parvertage of men in this Colony. It under their control, thea I quits agros with the The SURVITOS-GENERAL--Was not this known as playing with loaded dice, and I con- bearing the market; he sells day by day until fiusto basinees and what spentiation or game comes to be fulfilled, he finds the shares to fulti az unable to call to mind the precise words leached sonusal who represents the Sharebrokers' work included in the original vote for the Peak sider that the man who is able to operate the market bas got down to a point at which i bling Strletty epoking legitimaste basison it are gone and he must go and probamused by the learned Coquash, but he said some- Association that it would be seclose to have an water supply P
from the fact that he has abundant moans pays him, sad then he begins to bay. He bas would be when i was is buying sires for the par- partiostar shares to fulfil this contract. Or thing to the affact that no harm had a Ordinance of this kind. I will now rate that Hon. P. II certainly thought it was supposing there was a haul hero, not oan | no difficalty in fulfilling his contracts, for be pose of investment. If a mu onya with thoides again, man has plenty of capital, he re-done by thashertselling of chans, but that all the this Bill be referred to a commission with a view voted in the neiginal vote for the whole supply individual or a fare individanis but a great already has the shares in band. It coriairly in of elling again-within a short time and packet. mits home and boy shares on the Lou-harm d been done by persons who bought to ascertaining the rest one of the evil, that at the Poak,
institution, exieling for that purpose-I any a great deal essier for him to sell without put- in the politeit is not investment, it is spaula don market. A good market for them woonEne the rise. I would bag to point out to the the commission report to this Connell, and on
The UHAIRA-If of course the money has that person, or institution, in operating in abesting in the bumbers, but under this Bill be th. It is impossible to draw the line, and say her and he wants to all those shares, but he Iarnal Counsel that when a Company, as that report we can take further notion
hoen voted already it will not be apent a second unduly excitee the market, becomes a qull as it might do precisely the same trick, and rain where that apson ntion trees rash speculation spot do eo nntil he has got hold of the unm. I will suppose, has 50,000 shares, it is out Hon. T. H. WuITRESAD-I rise to secul time. The vote was recommended on the report were, and in due time depreciates them unill be every young man in the colony who buys for the and garbling. It varisa for every man according bets of them, to put them in the contrast, and cageous that it should be legal for any person, the motion the len meber bas just mads. The of a responsible offiger, the Wates Authority. Igola into his clutches the weal: individual who rise in the same way as he did the day before. te the length of his purse and the strength of bis in the interval ko losos the market. With regard one single person, to wall 150,000 of those shares. Mover of the second ruling of this Bill has a have his report hers.
sannot resist the teaptation of spoonlating. I It is not hesring the shares, it is the bulling Taking What might be perfectly fair speou to legitimate share dealing and citimate share tu prinsipe that is done every day, I have ex-ferred to myself as the repressatative of a banking HOL T.. WEIZahead-It will have to beeny that individos), that institution, is playing, operation that does the mixchief, and the mso lation for one pan would be cash for nation. transnations it will be the cause of abfitionat aggrated, perhaps. I will be more medscate and company in the Colour. Your Excellency is tin confirmed at the next meeting of Conasil so that from the wealth it possesses and the strength it who does that can give the numbers of his shares. Can the leg bare do saything to stop that delay, of widitional and many times a very say a Company of 5,000 shares, and it is possible doubt wars that I am the July lacted repre- we might vote if low and in the mostime the possess with lunder dig, We have had It is the reaction afterwards that does the rais
an it do anythis to provost a man, if he thinks sorians loss. It will prevent any lagitiinsta for au aparator to sell, without holding & saglo sentative of the Chamber of Commerce, and I hope mattor might be looked into.
brought lats operation in Hongkong within the chief. Now I ask you to disapprove this Bill, bet I sees his way to make a profit by a little gam- transactions which would in the abace of one, to the extent of 15,000 stars, the times the Chamber have forwarded to Your Excelledy The Chairman said he found that he had lost fuw wooks a Gambling Onlinnase, and we because you disapprove of the idea. The iden bling in shares, migning a contrast to take up the Bill be pus through and darind the number in oristanes in the Colony. Such a the result of the general meeting held yesterday overlocked the gcncluding paragraph of Mr. expect our police when they and as with is good. It would be a good thing if this gam- the shares thro, montha honee at extravagant No ma I have said before, who is thing is perfectly possible and is doar in prin- afternoon, Certain colution ware brought to Cooper's report in which it was stated that the beak and his maney tablod to miss him bling could be put a stop to. Eat will the Bill prions? Can to prevent the shares falling in acquainted with the dataila and methods in cipla overy day. I observe also that to learned fore the Chamber of Commerce and the Chamber money was required for extra pipes and material and bis money sad marol off with him and have that feat. The last speaker and almost
alne? That sau will do precisely the same which the stromarket is carried on will deny Counsel stated that the avil chiefly existed in the by a very overwhelming majority expressed them. fe Bagload.
it. But how about the operator in shares the same words I was going to use who lo re- thing even though the numbers of the shares that it will invotre additional troublant aldi fact that people bought for a riso, bas I petat.lvos desidedly opposed to the Bill now before The vote was agreed in and the Committen who has none when he sells them and never forred to this great operator or company; but
nawatiented in the contract he signe. It has tional expouse to every perana vouvernod in the ed out when penting before on ho s bjust, this Connoil. With the exoption of two man adjourned.
even got to far se to table his money at all? I with this Bill in force the company or operator been suggested that he would at least have a transaction. It will intorfors noriously with the man who buys for a rias who hopes that bars, one of whom did not rota ofther for or
say all that is contrary to commercial morality, could sell shares just the same and give the geurantes fund the shares existed and that the bueless, as any man with experience will arise will take plays three rucnths after he has agaival, every member as the Committed opposed
and whather this Bill passes or not I say ench numbera. It was engranted the buyer world conder as in a position to deliver thom. Perfoot tall you. It fe an absoluto fast that in the bought his kape is vain, his hour never buss. lo Bill, I myself am not in favour of it. I
operations have done an immensa deal of hann bave a certain guarantee that the share existed. is true, but to mischief has arism from the Banks and other institutions of business hora, so The lenened counsel says the sollor has the shares is an advance on home legislation, and I think it
in this Colony. I am very fikely to be wrong in But will the bever be the better abló vi pay for man eristics of that guarantee. There hays grout is the pressure on their fins, that rusuy in and that it is the buyer who is the bull: Not at would be a rast danrerous proceeding to so-
some of the views I talks, and if this BRI is to do them when saltling day comes, or will asy be very for cases of men who havs portant predantims which should be takou in the all. It is the seller was bulla tha dhures, and he Woipats the legislation which emanates from the Ascial genom moeting of the mombora of harm I do not wish it to pass, and it is for that greater discredit attach to the cass in which a Exiled by deliver the shares they have sold, or inasution of business are not taksa. I have plants them here, there, and everywhere and Impariat Parlount I am opposed to the Bill the Chamber of Commerce was held at the Chamas I wish it to be fully dissed. But buyer is unable to take them up? Again, there is if they barn, it is because one failed behind brought to manearly every day, I wey Bay, ass walts till the tion comes for them to he100 gazetal grounds and bonese I do not believe her's Rooms, City Hall, on the 18th inst whon yon go untand find every other man in the no provision in this Bill that it shall be unlawf£} then; becanelure are so many ramifications, in which when the facts are laid before me I say, taken up, then dana go the shares and that it would put a step to or restrict the erils to consider the Bill introduced in the Lagista street rained-I an aut overstating the case -- In tender any other charasexcopt thong trankiam
"If you had done so sad.so this could not harn the can who and them bays back at a compluzed of. I have listenent with a great deal tire Council by the Hon. J. J.Kearick, entitled you want to know the reason, and ear this is in the contract. Unless sora auski clauso is put occurred." "We have no time" they may, doprociated price the identical sharus he attention and interestin theblanddros by the Ordinance to amend the law in respect to caso, and a strong reason why so many pas in the Bill would be prefetly men, bseruaRGA. JE oilers from felfilling their contracte. Those business is sa brizi, wa hara to risk told then mouths previously, without parting Counsel for the Sharebroke Association and the sals of shares in Curapsuies Hegistered ple in Hongkong seat the present time disare man who had many transactions might offer De who have suffered during the last Well, I esu only tell them, "You have with a single dullur. That is what I onil uo-think it would be very desirable to have more under the Hongkong Ordinance 1865 to 1888dited, and it is bad from beginning to end. Of shares other than those he contracted for and trns jusza would bere suffered equally if takon the risk and you must far the Insereinl immorality and that at the present motius to insider the messure before us. I regard and in other Joint Stock Companies. There nurse If you ask me whether I expect this Bill no damages would be obtainable frost him. this Ordigang had been in force. It has Every one knows that many of the most ordin- ment is a rosenquisad system in this Colony. The the Bill an altogather too stringent and too were at Mr. B. Mackintosh (Chairman), pad to put an end to such operations I sayThe buyer might be entitled to bring tou pointed out in the pallia newspapers, and ary precautions are neglooted bause can leared counsel referred to an Ant of Georgs £I.Aweeping. It is a very revolutionary mearts Hon. P. Ryrie, Hon. J. J. Keswick, Hon. To, it will not put an end to them, but it. notion for breach of contract bonuse the I think I am entitled to refer to it for the par-prasRUre is to grow in the banks and true that not being a lawyer Tang be excused and we require, I think, mare prant than has. Whitehead Mass. H. Hoppita, S. C. Mi. will tend, I think core much to limit then and shares he was satitled to were not delivered to ses of orguns that there are two dr these office. It is precisely the same in the share if I display a little ignorance on the question. en aidaond to aken teat, it is nonusery. The hautaus, R. M. Gray, J. Y. V. Vernon, W. Hvalvonta it will bring discredit on those him, but he would recover nothing more than big spegulators the Colony, extremely wealthy business. There is no doubt, small it may should like to know if that Bill, which Ihou. mamber, the prnoter of the Bill. reYoung, G. 8. Moses, F. L. Rs. J. Tharbaen, persons who to grant extent follow the practice nominal daringas. That, gentlemen, man, who sarry on bescing operations, towering appear in detail, in the aggrerato the aneout think the lonenes gentlemane staal xisted fored to a cam any being posset of 5,400 H. J. Scutt, G. D. Boots G. H. Potts, J.Josep, that which they have said: they prints the the Bill. It is desists to stop gambling of selling on time for the purpees of dapreciating to reo to be the strongest argument against of treable, sonfusion, and delay that will be for 20 years or færsabanis ng law shares and stated Flest a great many more W. H. Wabice, P. Jordan, A. Dohan, 1, of these man. Will the passing of this Ordin caused to legitimate share business, dužno that of England and was not speaks? fill the than the actual number of sbarer in the company Mendel, F. L. P. Forster. E. Georg, de W. Lay,
valueof thevery property they have sold. I stated if it nan ba dono, but will this Bill do it Que ance interfere in the least with his operations logitiusal, share business bow you please, will be 23rd yose of us weign of her prosent Majesty, were in many instances sold on this market font, H. W. Diek, H. Muthga. . Shuro. E. F., when I began the councks that I was not. has scaronly oveu beard of a case having been 11s is supposed to be extremely wosithy and to be very great if this Ordicauce is pissed. If the I should like to whether when that if was I rege i that the bou. somt r did not give one Belilios, J. J. Francis, A. M. Conachin, R. O quainted with most of the arguments that would taken into Court in this Colony daring the but In pessersion, or capable of getting parassition Orduanes would prevent or seriously impede repouled in England it was repeated because or twe instances or ones which have happard. Rag, E. W. Rutter, E. L. Wordin, G. S. Corer be added against the Bill. I road very three years and it thie Bill is passed to worrow icroarrow, of ficusands of shares of any company abure specalation. If it would
interesting letter on this subject in the paper will it make the alightest difference? Evory him with money to nonecessity, and I should like to ask thie, Acting of aây such and I have never heard of it The SECRETARY baring read the tice on-respects what has saya ix rury and, sory good to take ap stores they becoilracted for or to pay morrow and be as many as he can lay hands meet a less when it occurs. ng one could des Attornay Geral whether when Chat Bill was befors Leoman's Act, on whick as Bill voning the meeting. on, let us may 30. He antere ints outracts, plain, but all thas diffeally is put on hia rapoaled, the Act repealing was modo operative ly sail to be framed, is a dead latine ju The CHAIRMAN mid-Gentlemen, you have and very true, but, speaking from money. Lihink the differesse, bat how many of those ennes ga afe: la passing of this Ordinanca, for the sals and get this Ordinance could silent no good in fu this Colony I should not be surprised to flad England and I absolutely and entirely heard be object for which this moting basho said that you might as well step operations into Court: In these transaction at Liw preson'
in merchandise.or exchange. of 2001 on time, to be delirorod three months stopping rash or hazardous peentation in shares. that the Act of Hopeat never applied to the ignored by the London Stock Exchange. Some buen called. I may say that my mind-and I
mement it is all a matter of honour. People house, at largely enhanced prices. By bis van It may be sabl and prolunly will be said that Colony and that at the present moment these year ago I was very much in favor of think probably the mints of all the members of
Hon. T. H. WHITEHEAD-No; tbo authority expect to be paid and they know they will be operaticas in buying and any other moans at short volling cases for violont factuations in transselions iu slures which I desire to put the intrubaction of Leomiun's Ast in theths Committee-is perfctly opan to receive quoted sail so; it is not my aatomsat. paid if there is any money for them to by pain his disposal be has raised the price of the the value of wheres that no may can know stop to by this ozonodingly modest Bill are after Colony, but other managers of Esuks who suggestions wither pro or coa. the subject which Hon. J. J. KxSWICK-I beg your parton, tith. E the buyer does not take up the shares stuck, and in every one of the contracts accurately what he is doins. Again I say all illegal and the people who make theru liable to had been here longer than I had were as much will be disenssa. I would only state for myself am merely speaking from to nory, but thers it here he has an money the lover grins and he enters tato to specifies the nambora of the it is not short selling. Short rolling sonant prosecution. I have not received any reply to opposed to its intraduction as I was in favour that I deprosto any interferince by Govora is, so no one said you might as will stop opera tha 4, that why her this
it. Anyone who knows anything atond Khares. I s. then, they are lying in his bo proved to oxist here. Solling on time that question. I believe the Hill whoch was roof it. Other bisk managers ars to-day still wreat or law in the condant of commercial operations in exchange as those operations have co- sato. And these shares, in inca of 35 or 50, are shares that that posseses or has control of paled in England in 1859 wan lled An Act opposed to Jam's Act and question if Esotisna in this Golury. I think the loss we have ferved to. Now I will tell you the differeness or out, stars sprculation will stil: go wold to the suus oluss of mien as bafor, who although he may not be able to give the to prevent the infamous practice of stock joh man's Aut had been introduced whether it work of Government interferonna than better. (Ap- I see between operations in mychandise on and shares will bi seld na tie without sug will be just as eager after this B is passed to nambers of tenstares, deraxis), plenty of it, bathing. "That was the title applied to the Bil for have had the desired effect. I quite sympathise plansa.) The Billon which I understandtheOrdin- or exchange and operations in shares which a norboy bing given, just as has been done in maka a little web as they are now. And when selling what a man dose not possess or has not which I have substituted this very, modest Or with the mover of the Bill in his efforis la ru are now sought to be passed is founded is what is raas doos unt possess and whick be hopes the thepast, for us legislation can step the gambling the day annus rhat will be their position? It control of or has met about and of getdinance. The tournet Counsel aid the law move the blight which, we all agese exist known as Leeman's Act, which was passed in the buyer will never taka up, bazansi ho hop hirit Spretation in share on what rusy be deponda upon this big operator. It may have ting, there is very little of that. The evil arises provided for deranges but it is a remarkable and I think it enggesting made to othrough Gaited Kingdom in 1 or 1868. The object bayer's hour will never gain, that the shares allod ganking.nlrasis will go on precisely
uited his purpose to allow the market to cannot from short selling but from the spirit thing that you very sukdom best of a mass the Couusol of the Sharebrokers.980- of Cat Bills far as
porems who wore called who operates in exchung it will be mid, wells No Act in England has evor yet sucoveded in abis le sell in advance and pocket their profits; to see extent and indusss run to bay for the variably the matter is satuled privately by paying about a better state of affairs than now weekers in these days, whose business it was here and there and everywhere. Why stop choking or stopping sprealation A very rit may not hate suited his purpose in which ris. Supposing this Ordinance is pemont the mont of the difference or giving a growiny exists. As representative of the Chamber of to depreciate the steel of varions banks during him and if you don't, why stop the men whore Act was pissed in the reign of Gangs one he has this 1,0.0 shares in reserve, state of the market will simply be angataral. anie, or as the learned Counsel suki geng into Comoros I would again state that I sm apposed the panic which scurred at tust time in calls shares? I may the diffen is bais-the Labing Act which was passed which he sells out in lots of 25 at a time, each There are two classes of operations going debt for the arccunt. I do ust think it is a do in this Bill and blast s very large majority of order to cates run on the banks for their man who is in a position to sell ally of oxchange for the very same parposo na this Bill now fiue at a dollar under the market rate, and in un in the market, speentative operaticus sirable state of things that there should exist a the amber present, at yesterday a general mest-destruction. If the fill that is sought to ho for delivery, soy six months heave, has on buforo themesting By Last Aut. percus ths. course of a month or two the market is if you will, or gambling-aling and hearing, which will enable pocions whifa oarrying exprassed their disapproval of it..
passad in this Colony is on the same linen as thing to show in justifionica for doing so, alles they did not posses ar did not cou were forbidlan to sell no part with ang drapped sixty or seventy points. He has done an dollborttaly opera log with a view to fing on a businosa that colas about 9 The ACTING COLONIAL SECRETARY—The
That, it appears to me there in hardty a escosity that is liroradit, I defy him to do it without it, not by plying with loaded dice, not rise, men deliberatoly paraling with a view per cent of the persons who engage in it,
(tral and bhut "Ast of Parliamsil wwe r paded by selling shes. To easrifies a portion of to's fall. What comedy will you intradneo lo sullis by privata arrangothent bolean is that the Bill be ravi a desend time and along whose glitrès are bought and doaltithe can get parsons to buy shares from bin Corth that it was a soritats indorfseance with tha
mation before the Council at the present time for it, benge of the various banking institut Bat the man who has nothing in his pookat in
tions, doing business in this Colony there is the way of shares, ut nothing to buy there with, in 9 by 23rd Victaris, the blasting his property and lose a dollar or two on te prereat balling, to prevent & man golag the parties themselves. This is to a grant ex- thas motion bas haan proposed and soorded. sach of his 1,000 shares in the hops of making into the market for his own purposes and text how the cuin takes plast. The listed this is not a borramour mesurs. It is a in in this Colour, namely, the local bank; so hats may do so although he has not a dollar in his tendons of trate in stocks and is So that twenty or thirty dollars on each of the other buying shares at a litila ndrance on the mas Unnosol also made the romark that many restablimen introduced by paints me that the application of this particular law pocket. Greatlemen, I did not intend in niso nyaugh flint Ael, was passed and was in Fores 2020, dres Ulant deserves in bo atigrastised na ka rate, baying again tomorrow at a lite enterprises could not be undertaken and carried. The Government were very noxious, and to this Colony in the seass in which it was marks and I will not weary on spy further porinco coactated that it reas olas to for many yeater Parliament after = lengthy ex- playing wh loaded dies? Is it rent a perfectly further advance, and doing the same again the out if the limited liability companies could your Excellency was very surious legitimate use to make of his wealth, hiamant day? That man does as machinischiof in not be formed, but by means of these companies all that could be said to throw light on the
car passed in the United Kingdom doss a appear as Mr. Francia suggested that some ore, so to
to me to be needed; but no doubt those who speak, should open the bail. I use vantarred teattempt to stop gambling in stocks and psikon, and his credit f. The man who un his way as the greatest bear that over figured many persons wore enabled to inveal their mousy question in order in cable the Government propose the Bill will be able to show us some indict these few remarks upon you
At the pro-haves and the only rasalt of larislation on the matter way to interfere with tha datos bouring operations must be a westly on the stoole market. It is the undis apprecia and tako shares, and thus great enterprises to oso to a right and proper conclusion us to very strong necesity for it. The actual and water of the Bill I hope the disenssion about to 19 does it who is nots and no thing in his Bill will stop that man or any davomant to max to buy lot tha rise in the bops pointed out that it would be a very serious ant the Bill. The Sharefrokers' Asanoistion haen I may call it, so far as my observation goes ist, and I dearacals on my part any decen forms to me that free truta is aires means a tion of shares Hint duas she mischief and the in were enabled to be carried out with profit, and be what position they should take au with regard fece trade of the Colony, the normal teade take place will lead to better understand used and of trade in stratos appland). T men in his position from doing what has band that they may be able to sell out before the dayter if the disposed of these shares shoeld lone in in past. Nothing in the Bill will prs for sottfamcut cost aut pocket a small profit to be interfered with and reabrio od happen beau represented by atasal and we have had not one whit depreciated from what it was some single moment to brusintributor to nur vent those whether year or old, who are infect. If this Olinaronis pad the market will be left freedom of contract and free operation in these addressed to us. He has laid before us facts and
aa the advantage of bearing this able spawak he hall talking of and ali referring to appears to ang single member of this community. (Ap.. porious but market open to spicultors
years ag. The present depression that we are measure at all that one of watsirly towards ed with the gambling spirit and who are inclin without its mantel protection. The vary pricharas, fiant onticsly from that vio as segaments well worthy consideration. We have me to acies solely from the mania which, seems
as well as to persons interested in invest ed to der in haces in the hope of making a ciple of free tende is that one evil morrects au gards this Biff, bauss it is not my wish to see
Mr. FLAXOTH-Mr. Chairmas, will you por Every purchaser who wants to sell again in a What do we mean by speculation F facade from entering into contrasts, other. Balling an etil, bouring is na aril, but any restriction placed on the fros sale of shorts afl the unofficial members at present in the many other plan in tan East paroleally it me is the first Itance to say I would but comparatively short time is a sportlator, not an
ala hai the advantage of having the opinion of to have prevailed not only in Hongkong but in Therefore the arganents we put before the the one conaLeracts the other, and the rIt is my denary evlely to belt share dealing Colony. There is absent Mr. Chater, bat he.
Wo suffer from it and we recover from it, and rentur to rise here as a member of the Cham-fareator. If this Bill is to be operative to the Council are the Admitting that there has sult is that though individuals toy suffer by causing the pumices in bo azad an ihai
no general appreciation or the wls can only take place of shuros which ex-in for the liest time.
was the seconder of the Alt who it was brought this time we appear to have taken it rather bor of Commorge to support any partinnkar view exlant the last spatar and those who support besu a great priîl iu the prsi, that the principle still there is
hd ; but, it wo aca la lagislate for the stop. if I did not myself satortain that view. I want it intend the resit would ba to tnra out of mish sprouistion and gambling is wout has depreciation, and taking the year round shares ist aud to place a restriction on disposing of¦ hazz rifu in the Colour, admitting it is mat muistain their vals. Your Excaliony 200 shares which are not repented in the company, he only did so because there was no other in the true sexamare of the Colony. No doubt seating the Sharabrokers' Association to oppone bling or speculating, who have no interest
Bou-T: H. Wazz10-May I explain blut page of this amput speculation in shares, Ict to assure you that elibongh I am to appear to the
as soo that it is not done in a way that will hnet marrows before the Legislative Commit as represalt purely and simply for the purpose of gam
market al tanise who buy and desirable ju the interests of the general trail that bristly the position taken up by the share. I believe the suggestion made with regard to official member presen!. of Lui ples son of fudividual prosperity to brokers and the ease they wish to put forward sliers brokers licenses might do aver The CAPTAIN SUPERINTENDENT OF POLICE res which ecast every day, shit to spply laws. bars, it is not on the same grounds, or from the wist to invest in them. What a very narrow
there must be many boat fide transnotions in the Dill, and although I undertake to bypass po an acd to that gambling nud rash is this, they admit the evil, but they do not aduct great deal of good, and I think such an ad-!
in any particular companies and do not speculation, mutantion to the Council is that it is caused by sfert Malling. The asit is ditional maanre to the Rill now submitted as avierstood to say that was inoorenak.
The ACTING COLONIAL SECRETARY-I 4o to regulate them appears to me to be travelling same motives, sa it were, bat simply because in markat indeed for stary gra would then have exposet in 31. Ackroyd's memorander. It is to the Connell and which it is proposed to read act want to enter into any controversy as to the outside the scope of what is required. But, as investigating the matter with a view to prepsis only those who seek in vestments. It seems to me gaubling, and rash strueniation. There is que a second time weald have a sury excellent effects of his seconding it? I only know the bond, there is not the lightest doubt that we shall for my dały marow I came to the ccadlusion that the Bill if passed will do mischief instead go on the same, and any man who only and suggestion I am instructed to make and that is should be very pleased to see the Gorera-
be shown by those who are for or against the the Bill ought ant to be allowed to pass. Who of good. I am anxious to remind you again dispassituately looks, not at the general results this, that probably nue of the causes which ment endeavour to onet suob a measure as H. J. J. KESWICK-That is corroot Bill reasons why it should be passed or not I first saw that Bill I thought it would be a that all I have mail before you to day I should Low at the details of sbare speuplation is long has opped at in promoting gambling would be likely to give affect w the suggestion
passed. I would only make one more remark, in most excellent measure and the if passed i keng will see that ia ninay-nine cases out of und nah appealation in the Colony, that gomb of the association. I was rather sarised at the reason for so doing I am not aware of.
the shape of a suggestion, and that is this, if it would do a grant deal of good. No one osn have aid oven if it had not been my duty tou overy Lunded that tour this Bill if it wore lawling and rash speculation which the bon. mamborrowerk derby the learned Control thstonogreat to-day work ast have way operation whaters who introduced the ill is most anxious to stop nhjeetion to this Bill would be that the simpla : suggest that the Council, instead of prosoad it appears to me that probably a less rirantie Las been done during the last three peers or boil the one and the other eide, and after read- morrow to oppose the Bill. After talking to a ba sought to carb what are called time bargains possibly deny that a very great deal of mischiaf great many gentleman hare, those representing to a division af onca, adjourn the motion until and would not interfere fu thun stightest degree and which the greater proportion of the rest process of filling in numbera might canxa a mân,
measure than what is proposed would meet the more and at other periods in the history of the to stop spoculation There is only one evil it puts of the colony want stopped, has bendrobably a buyer, to be the markat, I must the next meeting of Council, which I greatne Erika at abort selling, and it is ouutrary to all the want of any law regulating sharebra ors say 1 cannot conont in has view. Balore will take place nost Friday, in order that wo ways, and that is that for every sale of shares Colony is consequsans of azsessive share specula-ing everything that ha baon said and written carsfully consider the arguments and opinion the aumbers of the shares tion, and if by any possible means that gambl the Bill will do no gaol, will produce un effect in experience that the soiling of what a man has One of the greatest avila is that many mon who proposing the sound reading I would like we liave been put in possession of and that official ich are sold, either for delivery at once tug spirit could be checked a very great benet the state of affairs whish oxista at present, and is not got has been the cause of all this gambling, call themselves brokers are not our brokera to repeat that I am satisfied a very seriona eri
or on time, are given, there would be a certain would be done not only to the Colony, and fully deny. No man acquainted with share and as maob as anything else, a thing wrong in and every ous I hare heard aprak or, the mutisetske up in regard to this Bill, whether key with sole of stampa to be afilred to the transfer, and the trade of the Colony, but to the individuirable. The Chamber of Commerce muy Que which I think most people will agree is un- reciation, and serious Insy. That we respect bat als jobbers and dealers, and that perhaps exists in this Colony, and the learned Counsel ombers may decide what attitude they will stos daling can swartit to be frun in the vast itself. has given rise to a very great deal of them fully to recognise the fact that such an apport the Bill in its entirety, whether ther another and higher scale for those in which no embers of the community. But that is hard fire that it is strongly desirable to stop majority of ens, and cur submission to this gambling and rash sporulation that has gowe i avil dons exist. If that be so I trust that this will approve of it te ench an extent na will bring numbers are given. The rovcune of the Colony is the question. Every ous will admit that gambling ia sbores without feeling themselve bol Council is this that the Bill can do neon in the Colany in shares. The Brokers Council and the Government will not imitate it into onformity with the English law at the would be benefited and probably a certain The question for consideration is, will this Cossible gel, extraut in any way prerant or Assalios ar ost anxing the Government at onto to pasa this Bill and give offoot prasant time, or whether modifications shall be ok would be placed upon what are called Bill it passed bars may asefal effect, and it called upon to support this particular fill. Tao (Applanas). If any er to me and I same to the conclusion passed stop sporulation in shares or interfere remedy the ev at which it is aimed. If it shou as them in purifying the profession to it in order that we rany no far as thelight thatean bithrawanpon the matter by the gentleman has any suggestions or any remarks aftur very paraful stady sad hearing ce with the elxas of operations that have been question for this "Cimarobar is, will this Bill i mads to the Bill. We are now in possession of all gambling transnationa candy the ovil that slous is safficient, of brokers in this Colony, and so far as they possible give some protection to tirse por leral couugal and the unofficial members, and I to make upon this Bill, either pro or on.. wall sides what could be said for and against it carried on for the last for yours, or will it not, I had think. disincline this ten, Council to can see the only way in which that our bo dose sons who apparently aro giran up to gambl think the wisest thing to do now would be to will be very glad to hear them si nuos ram it. But there is another argument, and is by licensing brokers, compelling avery broker in, to protect them as fur is water jars. I thersfor more that the considerailu FRANCIS asked on These initiative the most chief indirectly in interfering with fros trade. That this Chamber disapproves of the Bill in that this Bill would offset no reformation and if it does not do that, simply do mischief instel There being no immodists response Mr.in all probability would do a great deal o mis gond? I beg now to move as a resolation- we submit it for the consideration of the to take out a licence and pay a foe for it and thoai_mou who have them at their mercy Connoit that not only will the Bill do norofusing to linens any braker who is not a by eling on time. I appeal to the unofficial of the Bill be adjourned to noxt Friday,
1 need not remind you why companies were its present form, boisg of opiuing that it will scool, put wally will. it, vol interfore with member of an Assonadon with rales and remembers and the gentleman who will second my Ho Ho Ka-I rise to order. The ing had hear called i
The CHAIRMAN-The Secretary will read femud-do allow large sums to be collected the spirit of speculation and gambling, not gulalicus approved by the Government and motion to give full support to the Bit, and question before the meeting le for the bet the requisition if you wish it. It was called from a number of small capitalists, to carry ont effect ne useful purpose." (Applanso).
aly will it not deprive the gamblors of their whies provide this be shall undertake, o oath have to press my regret at the absuzce of the roading. I horo nered an amendment to that on the requisition of ton mambers. secard-great enterpris. They constitnted a gemt altar Mr. BELIL1O8-1 think thero in a little inso implements, but it will do mischief. Without possibly, ant to act as a jobter but to confine gentleman who accouded the Bill on its first to have the Rili referred to a souslanion. ing to the rules. Would you like the ames? ation in the law of partnership, andar which if one ouracy in Mr. Francis's remarks or perhaps not providing the mossary means to remedy thehimeli to his legitimate business as a broker. reading. I appul to the unofficial mecobar who The AorING ATTORNEY-GENERAL-I KUKİ
Mr. Francis-No. I would simply suggest member wished to withdraw the whole hosin so much so inaccuracy, probably it would be sil, it will do substantial mischief by tying the If this Bill would interiers to prevent that presents the Chinese community and to the rise to biler. The hon. maber's motion was that some of those gentlernen nu whose motion bad so he would np. Due of the special objects more sorrect to say a Lapsus lingua. He says hunda of many honest and respetable dualors excessiva spaniation and abling from unofficial aether who is the representative of not vocandod. lo shoes. It will place un impediment in the wldeb u Imokers in common with others have an honourable banking fastication, which
the meeting was called ought to have a resale of the Companies Act was to allow a mun ko that a buyer buya two thruzad shares sad by Hon. Ho Kars, by Mr. Whitehead.
tion to propeso sad then it would give os transfer in the open market hiz share or inter-so doing raise the price of the shares. He then way of boast and straightforward busi-suffered, they would be glad to be heard a satisfed would have no krepathy The Aaring Arros82Y-GENERAL-I beg something to talk apon. Those who have est in the company. The great advantage of sells 2,000 bus, giving the staters in his pass, which I think I am entitled to asuume in support of it instead of against it, but with, with suy transactinus of a gambling no your pardon. I did unt hear him.
not the wish or intention of this their knowledge of share doating in this colony, turo. will not detais the Oouncit longer," The ACTING COLONIAL SEKTART-I haveing an expression of opinion would best tatoo be swept together frout the peaketa of all theo again for cash. The object of this oalled the meeting for the purpose of obtain- company law is that this immense mase of capi.contracts, and then ho mys the very sams seller Charcil se plava, I must apologies for the believing if it had been in operation during tas but I trust that this Bill will team law, 35 no objection to the hon, member's amendment if obtain that expression by putting a resolution peor people and in shiell amounts, and 20h Bill is to restafet the seller salling these sharo indefinitamus of the language I um being bi- Jast thras youre it won'd not have provent I am antisfied that it would do an immense prases it, but I would put it to him it is would before the meeting. I venture to suggest that man's shore fads a ready and easy tarkat when again, and that, I think would be a very great cargo in can caso it is almost impossible to ed the rain of one man, they come here to en-antonat of good, and I would press the legs not to more desirable to adjouta tho aczsides would be the essiest way of commoning the teaver he wants his many bruk. Company advantage to the Colony, deling what in legitimate dealing in shares, what doutour by my mouth to put that state that in its operation, as regards sharebrokers, itation. I also think after the Bill has been readienssion.
and the aristence of companies, and company Se legitimate sportlution iù starca, and whore you
Nr. FRANCI may have best guilty of a of the case before the Council and ask you will have a very much lese harsh edest than it a second time and the Conucil has resolved itasif Hon. J. J. Keswick-Mr. Chairs and gen-ospital, would not have both carried to the exlapass lingue. What I said was merely as all aca to draw this between such speculation mul not to pass the Bill. If any Bill is intro bus bon supposed it will. I would repast into Committes that it be a more appropriate tlemen, I did not come here today with the in-tant thar, hata nad would not be capable of do-lustration and that was that a man parchased obling. But may I be permitted to remind duced which will fairly only these evils what I bare said sizewhere with reference to time to move any posolution of this kind, fention of making any remarks toon this sub-flag the great good they do it any limit were tothras thousand abares and then sold 2,000 of this bos. Council of the character of ensis the shatebrokers will be west happy to co this Hill, that nothing would cause me more re- Hon. T. H. WHITEHEAD-The objant of the jest, but as I happened to write the latter be placed on the sale and disposal of the shares. tham en timo sua very handsome profit; he then limited and the shares. Since the institution operate, and they offer that eae suggestion to the gret than that it should operato harshly on any mover of the last solution was to refor the Bill to the Chairman asking him if he would be it song to me that it would be indofonsible or-praceaded to dispose of the other 1,000 is order yi theen companies enormous works have been Legistative Council. They are most anciones that single individual.
to Caroniesion to take oviñores belcre pro-good enough to call a meeting of the members of opt for some clear and distret gain to place any to bear the market. begun and carriet out, opormons aggregates of sama. Ordinance should be pussed to regulate Hon. P. RrapI rise to send the notioneseding further with it
The Chamber for the purpose of discussing this im-limit on the freedom of the ela of shares. Now, The CHATEMAN-That is what I understood. capital ecifisted for industrial purposes which anx brokers auf to restrain them from acting both as for the second reading of the Bill. I think there The ACTING ATTORNEY-GENERAL-I anportant masauce, I think I may be exaused if I say what is this BF Its object is professed's on you to say. der the aid system of private partnerships would brokers and jobines, for they firmly believe som is no doubt that its object is a good que, but afraid that mokonis out of ordar; it is one of a few words. I am obliged to the Chairman of the fan of is to prevent the sale of shero which never have been brought together. There were of the evil has arisen from the font that thern to the Bill itself. I am bound to say that I think those of which acties must be given. If you the Chamber for his promptness in summoning not in the possesion or under the control valuable to have the experience and unwledge Mr. GRANVILLE Shipp—I think it very Beriain inconveniences under the old law which are many man who in violation of their duty as if will require modifying in Committee, and I look at the standing orders you will see certain the mosting. I am already acquainted with most of sha maller, and it endeavours to carry sat that of the Queen's Counsel of the effect of anolent this limited Nabity has enabled the company brokers, acting as agents between principals, think it inay be so modified as to meet the motions which obeunde without notice, but of the arguments that I believe are to be ad- object by sompelling ovary contract for the sale and modern legislation on gambling. I think to obviato. Ons great difoulty was that onovert themselves into princiosts and bay and objections made toit-by-the-gentleman who this is not one of those.
dred against this measure, and I mood hardly of abares to state the numbers of or to some way we all agree with him and with our Chairman there could only be fow partners. Esch partsall share without informinreir principala conduct the share bastuem of this solony, I The REGISTRAGSTERAL-I understood say that I regard the whole of theas as very for to identify the shares that are sold. It imposes that say attempt, effectually, entirely, and ab. ner wee supposed to take an active part in the busi In.that way door has boon opened for what have beard a great many opinions on tire sihjeet from the despath of the Becretary of Stats from hoing sound. I have fast listened to the penalty for inseling falas pabers, but it solutely, to put an uil to gambling is completely ness; they entered into partarabip becuase they may be called fraudulent dealing and rash and of the Bill, and I think it will want a good with regard to the Bill that it was laid down remarks made by the Chairman, and by way of not define false numbers, and it does not make impossible, but is thure not a great difference had knowledge of each other and confidenes pacelative dealing of the most barofaced bara deal af alteration to make it effective. that the Hill should not be brought forward Domwent on those remarks I would point out it a misdemeanor to insert the zambers between offering facilities for rankling and in each other, and if ous partar woat out the for. I thank you Excellency and the Connell for think the general view in the colony is unless there was general agreement parcare-that, although I do not believe that the loziti of shares of which the allor has not posses doing what to the bout of our intelligenen Be and to be wound up and reconstituted. If the patience and indosse with which you have that the hon. member is perfectly right in ing it among the unofficiel members. As there toate and general hasines of the Colony has sion or control. The only effect of that we may think is calenlated to diminish it? that had sentinted sous of the great works of listened to me, and I thank you again un hobalf attempting to check radi speriation. I think spears to her general agreement, I think been in any way interfered with by undue provision, it seems to me, would be that The Chairman has alluded to the imposition modern times could have been carried out of the Starebrokers' Assolution for permitting the Ordinases might be added to by engrafting it would be as Tell to postpon the Bill. Igambling in shares, still, I am satiedad that the company had say only two thousand shares of a heavy lamp on those transfers in which Therefore the Company Law was introdus d theta to be hosed to-day. and after all these componies are partnerships
on it some regulatieme as to the Housing of would therefore ore that this Bill to post-individual credit of very largo nambar of it would be a misdemeanour to insert to the con- the aumbers of alure were not stated. E think Hon. J. J. Krawiec-Your Excellency, in brokers. I think probably some regulations poned to this day six months. At pressat there persona has been thereby very seriously affected, trant numbers ahora that figass. But that is ìt is s fact that is known to xil the brokers and People were iniited to put their money in rising to propose the sound reading of the Bill of that kind might do more good than the Dill appears to be only lisagreement among the un- The test important argument really, the technical dufoot that might be remedied. Foto's good many of the merchants of the Colony thin and taky cares, one, a bandred to amend the law in respect to the sale of shares, illi ur half a million, according to the magnitends I would like in the first place to offer a few ro Ho Ho KAI-The Bill has been duly pre-Bill now does not appear to be in accordance the introduction of this measure, has been the fo the intro that he happened in the past
ullojal members, and therefore to go on with the argument that has weighed most with me in question is will the Bill prosent thst happening that transfere pses through a great variety of at the company and his own means. Every marke apon the very able address made by the pos d aud seccaded to pass its second rusling, with the Secretary of State's despatol.
hands bofor reaching the registration office, man could have sure in the profits of these fearned Counsel who has just eat down. I test 90 far as the principle of the Bill is concerned
argament that it is likely in its application to Hongkong? I sakit nut. There are a very which I think would negative the value to the great enterprises and one of the greatest induce the greatest satisfaction as the promoter of this I think hon. mo bora will agree to it, but the
HIS EXCELLENCT The Secretary of State's be very unjust and very harsh to a large section great number of persons in the colony who have Treasury of soy impost of that kind. Mr. Francis nate to a poor me was the knowledge that he Bill with the fron discussion it has given rise question is whether the present Bill is desirable instructions were simply that he did not shit krokers, among whom I am pleased to count ania of the past three years; but may I point. Bity sompanies and associations by giving an op of this community-the gentlemen who are suffered severely in consequence of the share has referred you to the advantage of limited liabi wouldatang sumont sell these sitsres and get back to in the Colpay, and I am particularly glad that or not. It has been distinctly stated by the to the Bill being used and brought into fereeazy friends. That is a very weighty argn- fost in passing ass at courses rest deal of loss portunity for the profitable employment of accu the-money and possibly more than the money the Sharabrokers Association has been heart learned Counsel representing the Brokers' As the noflolat magbers, agroed. There was no which he had invested. It was that very freedom by Counsel before this Connail, as in the evert socistion that all the evil which has been caused statement that the unpfacial member must be ant, ocense I consider any enactment that is hasbesatearred not by simply buying and selling mutations of earnings which otherwise might conferred by law on these shares that enabled of the Bill being passed it will it all events to a large number of persons in this Colony by nasions, nor any atement that the Bill likely to bear botskly upon any sestion of the shares but beesuse maay papanics were not be put away in stockings and for which so 154 tises somies to do as much as they have done. be clear that the opinions of all enncorned bars apponlation is not entirely due, in fact is must not be disensed hers with a view of bring. For that reason I have bewa xooodingly anxious losses in connection with the failures of companies barg and other contros of capital, spare capital community requires very sorious consideration. started on a sound basis, and thers have been could possibly be found. In London. in Ham. Now a free turket for the sain of shares have been fally represented. It is a remarket got us at all, to short edling, which this Bill has ing round the barste it. There was noortant the most careful scnsideration and the spart from the losses on dealing in shares. Bab from the manufacturing andagricultural disteista is evidential to the maintenance of this thing to me in ognection with all the discussion been introduced purposely to stop. The wover der that it shond not be introduced and that falleat opportunity for discussion should be of course thers have also been great low on flads its way to the metropolis and an imm syeton of ompanies and impanies law, that has taken place on the subject of this Bill of this Bill on the other hand seems to think we should not be arguments for and wrist afforded to this Bill. There is very general buying and calling. What has been the modes amount of unemployed money belanging the Inge od anything that interferes with that tree that in no instance have I heard of any oce who that is the whole cause of the evil. If it. I think we as quits in order in pressding isanderstanding. I think, with regard to the operandi? Who are the losses? Can you point number of unemployed persons, who do not demi diandrutage and will interfere to a dissents from the principle which is favolved in that were so, I am sure every member of with it. grender or line extent with the prosperity of it. It appears to be admitted by the karoad this Council would like tɔ soe this Bill passed
intention of this Bill. My intention in reference to any are who has lost money by short selling know what to do with it, is invested to the Hon. T. H. WHITEHEAD-Thore is no rofe to it has not by any manns boon to restrict the If you look over the list of your acquaintances best advantage. These persons come to London ices companion, and it in a consideration whore Counsel and by every one when I have heard this very day. It is represented by the rence in the ralosfor natios of motion for relegitimate sale of sharon. On the contrary, it you will find most have lost their mousy not or receive daily the stock Hats and they pore over you are proposing to legislate for the protection that a blight andata in Hongkong, a blight which oppose of the Bill that if this illis ferring Bill to Committee. id shareholders that you should do nothing that has done great fejury to a large proportion of the pass speculation will exist to the mae extent
Les baeo to encourage as much as possible all by selling aort. but by buying for the themandaay, "What use and I best put my money The ACTING COLONIAL SECRETART-The Legitimate and boni file enterprise, and I aris shali interfere with or depreciate the sins of community, and I think it must be generally and the cama evil will be produced in the future, hou, member mard to refer the Bill to Cour satisfied that I am not mistaken in saying that speaker gara of no wealthy company or has money hers that does not know what to do with Tats the illustration which the last to " But done that apply to Hongkong? Who the property of the holders of those abares. admitted that all parties are very anxious Now which side is right P I am sorry ou one miazica, and to s Jommittée. I think I need hardly tay that the toodany that some remedial inre should to passed account bat I am glad on another that I am Hon. T. H. YRITZEEAD-I there any restrict business in shares. All I wish to do is ket. What does he do? First he has to run Bhanghai Bank and you nan get a very g
if this Bill becomes law it will not seriously individual setting to work to rig the marit (Langhter) You can go to the Hongkong and of this Bill now before Coumel is vory which will remove the very unsatisfactory stats not a share dealer, nor have I tered into the difference betwear & Commission and a Couto rastelot operations in shares by mon who do the market up, and he sets to work to buy alares; interest for it. I only wish myself that. I had varionaly to interfere with the market for of affies at present existing we regard dealing held of share speculation. Consequently I have multion? shares in Hongkong and that it has gone a long in stooks in this Colony. I have boon vors no partionlar or peculiar knowledge and 1 The ACTING COLONIAL SECRETARY-Gerware made law it would gire the buyer the the abaros in his hands. Lot un say he has three (Laughter). I say that 5 per cent. on twelve not possess them. I sansider that if this Bill he do not boy on time but for oath, and gata talon it and I should now be millionaire. way already to dull that market by order much stenok, while listening to the gentleman should like for my own astisfaction to have fairly there is. fling to propose that the cousasurence that what he purchased existed and thousand shares. He sells as long as he can find monthe deposit ia a Eno alock to invest in. ing people ulling to enter into trans who has just sat down with the fact that he the evidonou of persons takax who hare sideration of the Jill be adjourned to next Fzi- it would give the ader the assurance that buyers, my two thousand skarce, at very high Mr. Francis says that people have not lost
ous and puretano aleres which they do not repeatedly stated that tule Bill if passed would special knowledge of this subject. I carday know whether they will be able to sell or ham not at all, and naturally the question is talaly think it a waste of time to disease the The ACTING ATTORNEY-GENERAL Sonded. She buyer would take up that which was sold an axira olark, or it may occupy him half-an- it in companies that have failed.
there was good ground for mapping that ratou. If this Dill passss he may have to keep money by dealing in shares hat by investing act. It has fud s martia effoot whils itaugusted to oan's mind that if the Bill will pre and con, of this Bill until this questien de The Council the adjourned.
to him when the dus dato pame. Of cours has been here before the Council, and it will have no effect, why should there bo euch serious clear. It is all very well to hara medioins, bat....
-hour longer avery day, to make out the contenote why have these companies turned you were to ask me to go through the history and put in the sotual trumbers of the shares. failures? Because they were got up in
that this will not in the least interfere
with it, that gambling and sputation will
wowbar spoon dod it.
Hts
THE ACTING COLONIAL SECRETARY I would
Carried.
on the subject, I bara satisflod myself that
Hut