13.
22/
The following are the shares mentioned by him together with
the prices cited by him and the prices on the 18th January, 1936:-
Shares.
Amount paid
Price on 3rd. Oct- ober, 1935.
Price on 18th Jan-
uary 1936.
Dairy Farm Ice & Cold Storage Company, Limited.
77/1
Hong Kong Electric Company, Ltd. 10
223
121 524
4*44*
21/ 74층
Hong Kong & Kowloon Wharf & Godown Company, Limited.
50
73
103/
Hong Kong Land Investment & Agency Company, Limited.
25
22
352/
Hong Kong & Shanghai Hotels, Ltd. 10
Hong Kong Tramways, Limited
3
52
5
10.65
14.10-
The Hon. Sir William Shenton said that these shares
"represent a part of the life-blood of this Colony and it is
on the security of their values that much business is trans-
acted."
Your Petitioners accept this appreciation of the position and
point to the fact that in under four months there have been most
substantial rises in every one of the shares named in no case
less than 30% and in most cases well over 50%. The market value
is with one exception in every case much above the amount paid on
the shares.
We have here at least some concrete evidence that the view
of the senior Unofficial Member as to the effect of a low dollar
was correct and evidence of a marked improvement in business.
Your Petitioners crave leave to refer to a further passage in
the speech of the Hon. Sir William Shenton, which was as follows:
"I am not for a moment suggesting that present conditions are
permanent; they are a passing phase of very uncertain dura-
tion which, like similar cycles of depression in the past,
have had to be faced. The Colony has no public debt worth
speaking of, its speculative position is moderate as compared