Sir,
Copy.
Downing Street,
31st December, 1923.
58
With reference to your letter of the 2nd of
August, regarding the fee payable annually by China
Companies under Hongkong Ordinances 31 of 1915,
I am
directed by the Duke of Devonshire to inform you that
the Governor of Hongkong has now reported by telegraph
his views on a proposal that some differentiation should
be made between public and private companies in the
matter of the annual fee charged, and that a solution of the
question of the duplication of the fee might be found by
levying the fee in full in every case and then allowing
China Companies to apply for a refund of the fee in
respect of shares held by them in other China Companies.
2. Sir E.Stubbs stat es that he agrees to the
above proposal and asks that your Company may be informed
that he intends to act accordingly.
I am,
Your obedient servant,
(sgd) H. J. Read.
The Secretary,
British-American Tobacco Co.Ltd.