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each month, in advance, during the term hereby granted, and in pursuance of the said Ordinances, I, THE SAID GOVERNOR, by and with the advice of the said Executive Council, have given and granted and by these presents (the form whereof has been determined by me in Council) under the seal of the said Colony for myself and my successors in the Government of the same, DO GIVE AND GRANT unto the Grantee the sole privilege of preparing Opium and of selling within the said Colony (including the New Territories) opium so prepared inclusive of the privilege of collecting dross, and of preparing and dealing in Dross Opium, for and during the term hereinafter expressed, in conformity with, and subject to the said Ordinances in that behalf provided, and to the following conditions and stipulations:-
1. That the said monthly sum of $98,600.00 shall, during the said term, be paid regularly in advance to the Colonial Treasurer and without demand on the first day of each calendar month, the first of such payments being made on the 1st. day of March, 1913.
2. That the Grantee shall have no Raw Opium in his possess- -ion except what is reported through the Imports and Exports Office, and, unless the special permission of the Governor to exceed that amount is obtained, shall not draw for local consumption more than five hunderd and forty chests of Raw Opium during the year of the Farm provided that the Grantee shall be permitted to draw and boil for export to countries which do not prohibit the import of prepared Opium such additional chests of Raw Opium, not exceeding 120 chests per annum as the Superintendenté of Imports and Exports shall allow. Any prepared Opium imported into the Colonial by the
Grantee, or any prepared opium confiscated when the amount exceeds 50 taels obtained by him, shall in either of such cases be calculated every quarter and an equivalent deduction made from the
number of chests drawn by him. For the purposes of such calcula-
-tion 1,100 taels of prepared Opium shall be considered equivalent
to one chest of Raw Opium.
3. That the Grantee shall not part with any opium in the raw
state either by sale or otherwise, but only prepared Opium fit