7-Because the number of Shareholders in the promoting Company can be increased by the creation of additional Shares, as provided for by the Companies' Ordinance, 1865, without the aid of special legislation, and without lowering the solvent character of the constituency, or rendering it necessary to make immediate Calls upon the Shareholders.
8.--Because the evidence taken shews that the proposed Ordinance is required not so much for the advantage of the Company, as to enable its Shareholders to speculate in the Shares and get rid of their liability thereon; to which the Legislature of this Colony should not be a party.
9. Because the benefits expected to accrue from the proposed Ordinance are neither certain nor positive, but only supposititious and speculative.
10. Because special legislation to promote private interests, such as that sought by the promoting Company, should only take place when an absolute necessity for it has been shewn, and when the interests of Creditors who may be affected by such legislation are protected; which is not the case in the present instance.
11.-Because from the known tendency of mind of the Chinese Community, it is probable that they will construe a special measure of this kind, entirely supported as it is by Officers of the Government, into an intimation that the Company in question has the special support and patronage of the Government, which is for obvious reasons undesirable.
Hongkong, the 28th day of April, 1876.
(Signed). Lavrset
C. JW. Reside
GJ R G
144
7-Because the number of Shareholders in the promoting Company can be increased by the creation of additional Shares, as provided for by the Companies' Ordinance, 1865, without the aid of special legislation, and without lowering the solvent character of the constituency, or rendering it necessary to make immediate Calls upon the Shareholders.
8.--Because the evidence taken shews that the proposed Ordinance is required not so much for the advantage of the Company, as to enable its Shareholders to speculate in the Shares and get rid of their liability thereon; to which the Legislature of this Colony should not be a party.
9. Because the benefits expected to accrue from the proposed Ordinance are neither certain nor positive, but only supposititious and speculative.
10. Because special legislation to promote private interests, such as that sought by the promoting Company, should only take place when an absolute necessity for it has been shewn, and when the interests of Creditors who may be affected by such legislation are protected; which is not the case in the present instance.
11.-Because from the known tendency of mind of the Chinese Community, it is probable that they will construe a special measure of this kind, entirely supported as it is by Officers of the Government, into an intimation that the Company in question has the special support and patronage of the Government, which is for obvious reasons undesirable.
Hongkong, the 28th day of April, 1876.
(Signed). Lavrset
じ
C. JW. Reside
GJ R G
144
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