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It came into consideration in Committee, but was rejected when an amendment moved by Mr Roric that "the Bill be not further proceeded with" was carried. The amendment was strenuously supported by the Chief Justice, who scuttled the Bill on the ground that it would have been lost in the Colony due to speculation in shares, and that giving five companies the power to reduce the amount of their shares by sub-division would be likely to develop among the Chinese, and the European community a dangerous spirit of gambling in shares of small value. His Excellency was guided by the opinion of the Chief Justice, and the Colonial Secretary, and himself alone voted for carrying on the Bill.
5. Upon the failure of the measure, the Directors of the Hongkong and Shanghai Banking Corporation applied to the Governor for a special Ordinance and His Excellency assented to submit the present ordinance to the Council. After the second reading, the Officers of the company were required to adduce before the Council evidence of the allegations in the preamble. This was done and the preamble slightly altered in some details so as to be in accord with the proofs.
6. A bill for...