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Shanghai Banking Company.
I inclose copy of the Attorney General's Opinion, and also Memorandum on the subject by the Directors of the Bank to whose Manager I referred that opinion together with the Treasury letter of the 16th November last.
On consideration of the enclosed documents I venture to suggest to Your Lordship that the Ordinance should be allowed to stand, because whilst it would be inconvenient and somewhat damaging to the Bank to expose it to any misconceptions that might arise from a rumoured disallowance of the Ordinance, it is almost certain that the objects which the Lords of the Treasury have in view can be met by inserting, as Mr Pauncefote proposes, the necessary clauses in the Deed of Settlement.
Enclosure N. 1.
Enclosure No 2.
The Directors however are of course quite willing to abide by Your Lordship's decision, and, if the objects of the Treasury cannot be substantially obtained without a revision of the Ordinance, that course must be adopted; but it is desirable that the necessity for such a measure should be communicated to me as early as possible.
I have the honor to be,
Your Lordship's, Most Obedient Servant.
Pusey G. H. Montgomery
Governor.