CO129-175 - Sir Kennedy - 1876 [9-12] — Page 246

A

recommend to the Stome Authorities

that the Special Ordinance. Nr. 4 of 1876 passed for the relief of the aforesaid

Company, may be made law.

It has already been brought

prominently to the notice

of the

Government here that the fact of the shares of the China Faders Insurance Company Limited being es large in

Amount ($5000. Each with,

5000. Each with $1500 pered up)

and so few in mumber (only 200) is

and to be

found

very disadvantageous.

Merchants having to hold chares in

leveral Companies naturally object to the amount of the China Trader's Company being to much in Excess of of others, while the number of

that

}

shares being to limited,

243

so limited prevents a fair

extension of its business . This was

discussed before

however fully

}

the

Council in April task, when all the

in favour of

disinterested members were in

affording the relief asked for and the

Bill was actually passed. This I trust

will be considered. a

good.

Wearow

for its

confirmation buy this Lordships the

Minister for

The

the Colonies.

only effect of the Ordinance would

in about the

be to place the Company sauce position as other Companies doing

a similar business in the Colony,

will be seen.

as

from the following table representing the positions of the various Marine Insurance Companies trading