CO129-174 - Sir Kennedy - 1876 [4-8] — Page 147

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

Council did not think it necessary to put them to so expensive a process.

The sine of additional shares would not have relieved the company as the difficulty is caused by the size not the number of the shares.

5. The Company has been fairly prosperous, and the shares when offered for sale are saleable at a premium; but they would be more marketable, and the body of shareholders would be increased in number, with a corresponding increase of business to the Company, if the shares were reduced to a smaller nominal amount.

4.5. It would seem rather that the interests of the public are protected, when they have three persons to look to each responsible for $166, than when they have only one person with a liability of $3500. The nominal value of a share is no guarantee for the solvency of its holder.

6. The creditors, if affected at all, would seem to be better protected, as the same amount of liability would be spread over three times the number of shareholders, and it cannot be assumed that two thirds of the shares will be held by persons who are not worth £300. The presumption is rather the other way, as the Directors have control of the transfers, and the fresh shareholders who are likely to be brought in...

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Council did not think it necessary to put them to so expensive a process. The sine of additional shares would not have relieved the company as the difficulty is caused by the size not the number of the shares. 5. The Company has been fairly prosperous, and the shares when offered for sale are saleable at a premium; but they would be more marketable, and the body of shareholders would be increased in number, with a corresponding increase of business to the Company, if the shares were reduced to a smaller nominal amount. 4.5. It would seem rather that the interests of the public are protected, when they have three persons to look to each responsible for $166, than when they have only one person with a liability of $3500. The nominal value of a share is no guarantee for the solvency of its holder. 6. The creditors, if affected at all, would seem to be better protected, as the same amount of liability would be spread over three times the number of shareholders, and it cannot be assumed that two thirds of the shares will be held by persons who are not worth £300. The presumption is rather the other way, as the Directors have control of the transfers, and the fresh shareholders who are likely to be brought in... 146

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Council did not think it necessary to put theen to so expensive a process. the sine of additional chares would not have relieved the company as the difficulty is caused by the wise not the number of the shares. مجھ 5. The Company has been fairly prosperous, and the shares when offered for sale are saleable at a premium; but they would be more marketable, and the body of shareholders would be increased in mumber, with a corresponding mcrease of business to the Company, of the chares were reduced to a smaller nominal amount 4.5. It would seem rather that the interests of the pathe are & puthe are either 146 protected, when they have three persons to look to each responsible for $166. than when they have only one person with a liability of $3500. He hominal bake of a share is no guarantee for the solvency of its holder. 6. The creditors if affected at all, would seem to be beller probcted. the same amount of hability would be spread over three times the hustle. of deblood, and it cannot be assumed that two thirds of the thares will be held by persons who are not worth £ 300 . The presumption is rather the other way, as the Directors Lave - control of the transfers. and the fireke shareholders who are likel, Bbring dur

2026-05-21 09:29:00 · Baseline

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Council did not think it necessary to put theen to so expensive a process.

the sine of additional chares would

not have relieved the company as the difficulty is caused by the wise not the number of the shares.

مجھ

5. The Company has been fairly prosperous, and the shares when offered for sale are saleable at a premium; but they would be more marketable, and the body of shareholders would be increased in mumber, with a corresponding mcrease of business to the Company, of the chares were

reduced to a smaller nominal amount 4.5. It would seem rather that the interests of the pathe are

& puthe are either

146

protected, when they have three persons to look to each responsible for $166. than when they have only one person with a liability of $3500. He hominal bake of a share is no guarantee for the solvency of its holder.

6. The creditors if affected at all, would seem to be beller probcted. the same amount of hability would be spread over three times the hustle. of deblood, and it cannot be assumed that two thirds of the thares will be held by persons who are not worth £ 300 . The presumption is rather the other way, as the Directors Lave

- control of the transfers. and the fireke shareholders who are likel, Bbring dur

CO129-174 - Sir Kennedy - 1876 [4-8] — Page 147

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