CO129-101 - Sir Robinson - 1864 [10-12] — Page 242

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed
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240

Second is in par: 335 which entails a responsibility of liability for the amount of subscribed Capital on every Shareholder.

I would respectfully urge that both of these clauses should be modified so as to meet more adequately the present status of business. It is needless to submit that the question of Capital to be required in an undertaking of this kind is always to some extent uncertain and though it is far from improbable that the whole subscribed Capital of this Bank may be called up even before the expiration of two years the obligation to do so might be attended with inconvenience and loss.

In regard to the liability being double the amount of subscribed Capital, I need hardly point out that this condition is at variance with the manner in which business is carried on at the present time and when other Banks are started under the operation of the Limited Liability. This enforcement of a double liability would therefore greatly militate against the advantages otherwise conferred by a Charter.

With these exceptions which I trust His Excellency will be pleased to take into his favorable consideration, I believe this Bank is in a position to undertake all the other conditions of a Charter.

I need hardly add what must be well known to His Excellency that the establishment of this Bank is looked

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240 Second is in par: 335 which entails a responsibility of liability for the amount of subscribed Capital on every Shareholder. I would respectfully urge that both of these clauses should be modified so as to meet more adequately the present status of business. It is needless to submit that the question of Capital to be required in an undertaking of this kind is always to some extent uncertain and though it is far from improbable that the whole subscribed Capital of this Bank may be called up even before the expiration of two years the obligation to do so might be attended with inconvenience and loss. In regard to the liability being double the amount of subscribed Capital, I need hardly point out that this condition is at variance with the manner in which business is carried on at the present time and when other Banks are started under the operation of the Limited Liability. This enforcement of a double liability would therefore greatly militate against the advantages otherwise conferred by a Charter. With these exceptions which I trust His Excellency will be pleased to take into his favorable consideration, I believe this Bank is in a position to undertake all the other conditions of a Charter. I need hardly add what must be well known to His Excellency that the establishment of this Bank is looked
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240 Second is in par: 335 which entails a - responsibility of livice the amount of subscribed Capital on every Shareholder. ge that both I would respectfully urge so as to of these clauses should be modified meet more adequately the present status of business. It is needless to submit that the question of Capital to be required in an undertaking of this kind is always to some extent uncertain and though it is far from improbable that the whole subscribed. Capital of this Bank be called up even may before the compulsory the expiration of two years obligation to do so might be attended with inconvenience and lofs. In regard to the liability being double the amount of subscribed Capital. I need hardly point out that this condition is at variance with the manner in which is carried on at the present time business and when other Banks are started under the operation of the Limited Scability This enforcement of Ach a double liability would therefore greatly militate against advantages the a Charter otherwise conferred by a རིན་བ With these exceptions which I trust His Excellency will be pleased to take into his favorable consideration, I believe this Bank is in a position to undertake all the other conditions of a Charter J need hardly add what must be well known to Heis Excellency that the establishment of this Bank is looked
2026-05-19 08:32:59 · Baseline
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240

Second is in par: 335 which entails a - responsibility of livice the amount of

subscribed Capital on every

Shareholder.

ge that both

I would respectfully urge

so as

to

of these clauses should be modified meet more adequately the present status of business. It is needless to submit that the question of Capital to be required in an undertaking of this kind is always to some extent uncertain and though it is far from improbable that the whole subscribed. Capital of this Bank

be called up even may

before the compulsory

the expiration of two years

obligation

to do so

might be attended with

inconvenience and lofs.

In regard to the liability being double the amount of subscribed Capital.

I need hardly point out that this condition

is at variance with the manner in which

is carried on at the present time

business

and when other Banks are started under

the operation of the Limited Scability This enforcement of

Ach

a double

liability would therefore greatly militate against

advantages

the a

Charter

otherwise

conferred by a

རིན་བ

With these exceptions which I trust His Excellency will be pleased to take into his favorable consideration, I believe this Bank is in a position to undertake

all the other conditions of a Charter

J

need hardly add what must be well known to Heis Excellency that the

establishment of this Bank is looked

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