its shares which
3.
found
ми
wieldy and not readily marketable It is true that the Governor and the Acting Treasurer voted against the Ordinance but that
action
was
generally understood to
be taken because the testimony of the Chief Justice and his apprehensions of the danger of such a measure rendered doubtful
the expediency of passing an
the
Ordinance
in the absence of strong evidence shewing a real necessity for it.
Subsequent and further
further investigation however clearly showed that the China Trader Company
was in a
difficulty, and that after the
323
shares it had received in compensation for the failure of the General Agent to re-establish it made an attempt to
reorganize on a
different basis
by a resolution winding up under
the previous
the Ordinance of 1865 would be most detrimental to the Company as it would certainly
Cause
alarm
to the Chinese Merchants who did
large business with it, and shatter their confidence in its solvency.
A
new
Ordinance
was
introduced and
valid
passed Ordinance No. 4 of 1876 for which the Chief Justice voted but against which all the Unofficial Members of Council protested.
me 770