583
Recital of Petition.
Company and in the event of the said Company's becoming insolvent to be applied accordinglyso far as might be necessary but without prejudice to the rights of the holders
of such notes to rank with other creditors of the said
Company against the assets of the said Company.
11. AND WHEREAS the said Company have represented unto Us that there has recently come into existence a greatly increased demand for Bank Notes in Hong Kong and have made application to us for such further supplemental Charter as may be necessary to enable them for the purpose
of meeting this increased demand, to issue Notes to an
amount in excess of the limit fixed by the existing
Giring Author- Charters NOW KNOW YE that WE BY THESE PRESENTS ity to issue
totes in ex- do will and ordain that notwithstanding the restriction cess of 8,000,000 dollars on imposed by Article X of the said Supplemental Charter of
conditions stated'
the 17th day of December 1894 upon the total amount of
Promissory Notes issuable by the said Company, Promissory
Notes of the said Company, may during the period for which
the said Company shall remain incorporated, be issued and
be in actual circulation to an amount in excess of eight
million dollars if there shall have been specially
deposited and shall be kept in the custody of the Colonial
Secretary and the Colonial Treasurer of Hong Kong for the
time being an amount of coin or bullion or coin and bullion
equal to the whole value of such excess issue for the time
being actually in circulation to be held by the said
Colonial Secretary and Colonial Treasurer of Hong Kong
exclusively for the redemption of such promissory notes where-over the same may have been issued PROVIDED
NEVERTHELESS and WE DO HEREBY DIRECT that this Power
of