306
Mr. Stephen's Answer.
I am of the same opinion as Mr. Stabo that such
regulations would put a stop to indiscriminate forward
gambling in Shures.
As regards possible harm the regulations might
do to Brokers of British Nationality, the only advan-
tage a Foreign Broker might possess in attracting
business would be 17 he could be sued in his Consular
Court for the non-fulfilment of a contract. Mr.
bourne does not think, however, that Foreign Consular
Courts would uphold a contract that was illegal as
far as one of the parties was concerned anu that
these Courte would soon fall into line with the
British und Mixed Courta and apply the Regulations
to their Nationals.
In that case Brokers of British nationality would
be on the Bane footing us foreigners, but otherwise
they might be at some slight disadvantage, which how-
ever, would not outweigh the good effects of the
proposed regulations on share business generally in
this part of the world.
(Signed)
4.G.Stephen.