3.
7
2.
b.
C.
them, and they agreed that a total capital of $300,000.00
(three hundred thousand dollars) was required.
It was agreed that the required capital should
be subscribed, half in Canton and half in Hong Kong, and
that any future increases of capital should be obtained
in a like manner, unless other arrangements were made
in the future.
It would appear certain, that it is the intention
of the Canton Government to obtain the $150,000.00 (one
hundred and fifty thousand dollars) by subscription fram
the merchants, as the proposed Company was to be
Commercial and would have no connection with Military
Aviation.
THE COMPANY.
A. Registration.
B.
The Company is to be registered in Hong Kong
as a British Company, but it was thought by the Aviation
officials that it would be as well if it could be
registered in Canton at the same time, the Foreign
Minister did not express an opinion on this point.
The reason given for this request, was, they
thought that the Merchants would be more inclined to
invest money if this were done.
It was also considered that the Canton Government
would be more favourably disposed towards giving the Company the rights of operation in the district, and so making certain for the Company that they would be free from competition, anyway during the first years of
operation.
Management.
The Directors of the Company should be half from
Hong Kong