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582
Negotiations were continted with the Colonial
Orfice, and finally, on the 19th January, 1920, the
Colonial Government agreed to the extension of the
period from 31st December to 2nd April - another three months,
but with the great rush of issues of capital by Companies
in this country which have been able to show substantial
profits for some years past, underwriters have been fully
occupied with them, and whilst the Promoter is satisfied
that if he had had six months olear run, to arrange his
financial he would be successful, three months was altogether
too short a time to deal with a proposition in Hong Kong,
in view of the investigations and enquiries which responsible
financial houses have to make.
The scheme is undoubtedly a vital nacessity for
Hong Kong, and the Conodssionaire considers that it is
grossly unfair of the Colonial office to give him such
a limited time to deal with the finance under the
circumstances.
Those who are interested, with the Concesionaire,
in the proposition are business men of standing in London.
gran moi