CO129-095 - Public Offices - 1863 — Page 402

But their Lordships adhere to their recorded opinion against the order of the acting Governor of Kong Hong, for the receipt of the clotes at the

on

Treasury,

the ground that the Bank was incorporated by Royal Charter, in oritures of the Act 7 & 8 breterin Cate 18" for "the regulation of Joint Stock Companies " in England","_ and that therefore the powners to "carry.

the business of Banking " and to

efone Poles in the Colonies were, "if they be conferred by the Charter,

On

unintentially conferred,

under cover.

of a

" term, the object of which,

object of which was not avowed".

Ja.

am, instructed by the Board

of Directors to respectfully submit for the consideration of the Lords Commuforoners of the Treasury, "that their conduct and objects in applying for the Charter -- granted to the Bank were

open and explicit, and I am to enclove for their Lordship's information, Copy of a letter

addressed

of Privy, Conncil,

398

addressed to the Lords of the Committee

for Prade, under date December 1855, by the Chairman of the local Committed of the

ittee of the Bank,

Z

which

the nature and extent of the powers

descred

were

clearly stated. I may be

permitted to quote the following extract: from, paragraph A. 11. "It is desired by the afgra Bank, that the Charler

be obtained for it, shall authorife " the business of Banking generally to

K

be carried on

"to won

"

where it is

now empowered

to do vo- namely in the East Indies,

and

in China or elsewhere to the

are

east of the Cape of Good Hope, as also "on England ._.

The Directors

unwilling to houble the Lords Commisioner of Her Majesty's Treasury, with further correspondence confirmative of their position. They believe the letter.

satisfy their Lordships,

submitted will de

ZLZ

thatt

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