Members of Conseil have made to the passing of the Ordinance, does not appear to me to call for any special remarks beyond those which the Attorney General has made upon them in the Report which accompanies this Despatch. The objections of these members is based entirely upon the ground that the case does not call for special legislation, the Company having powers to wind up and reconstitute itself as any other Company.
5. I am unable, however, to regard the matter in this light, and do not look upon this Ordinance as anything more than an obstacle to the removal of which the Government has no inclination to interpose in the way of the development of the Company's business. It is in no way a failure, but rather a mere expression of opinion on the part of the Government that there are no public grounds for objecting to the reduction brought about, and that if they wish to reduce their shares, they can do so to the extent specified in the Ordinance, without having recourse to the circuitous and expensive formalities...