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DW TTR 2/14
NA CONFIDENTIAL.
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82786
MEC? REO 29 AUG 14
GOVERNMENT HOUSE.
HONGKONG.
24th July, 1914.
161
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lov
56945
I have the honour to confirm my telegram of the
23rd July, which decoded was as follows:-
"Am willing to accept draft order in council
"transmitted under cover of your despatch 4th December and
"agree to amendments in your telegram of 22nd July but should
"like to point out that term 'Hongkong Company' is unfortunate.
"Would suggest term Hongkong China Company' or something of a
*aimiliar kind. Revenue from local register licence fees will
"disappear. It is necessary therefore to impose by ordinance
"on all China Companies annual fee at same rate as existing
"local register fee. Believed that China Companies will not
"object. Last year this revenue exceeded $35,000".
2.
As Sir Havilland de Sausmarez is in Hongkong at
present the Attorney General consulted him on the subject of the
revenue from local registar licence fees. His view is that it
will be quite reasonable to impose some tax in place of the fee
which will now disappear, and he states that he has all along
given the China Companies to understand that the new system to
be introduced by the Order-in-Council will not have the effect
of relieving them from any taxation. He agrees that we should
provide in our draft Companies' Bill for the payment of an
annual fee by all China Companies at the rate of four cents for
every one hundred dollars of the paid up capital of the Company.
This is the same fee as is now paid for a local register licence.
It
THE RIGHT HONOURABLE
LEWIS HARCOURT,
M.P.,
&C.
&C +