mit of the market by declining to grant sub-licenses under Section 11 of the Ordinance.
8.
To the interests of the Colonial Revenue this has operated detrimentally. Yet so strongly entrenched had the Monopolists become that a single Firm could, with the one year's profits accruing from lease of the Farm, stand against them, and practically Government was in the hands of the Monopolists.
9.
The enclosed Return exhibits Endorsement No!) the amounts which the Monopolists, referred to have paid. I also enclose a copy of the Indorsement No2/1858.
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7.
On the last occasion, when the old Monopolists were outbidden by Li Pak Ching of the Sai Wing Tin (formerly Known as Wo Dang), an enterprising and most substantial trader, who is the owner of much land and property in the Colony.
10.
Primarily the Farm was let, as I have reported, to Li Pak Cheong for one year as the highest bidder. The longer period with the increased rental, however, was not granted to him as not only was his offer such a manifest improvement upon what had hitherto been.