CO129-184 - Governor Hennessy - 1879 [1-5] — Page 39

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The

Daily Press.

HONGKONG, JANUARY 18TH, 1879.

SALE OF THE HONGKONG OPIUM

FARM.

Yesterday morning the tenders for the Hong- kong Opium Farm were opened and the highest. that of Mr. Tan King-sing, who also farms the monopoly in the Straits and at Saigon, was ac- cepted. This tender is $205,000 per annum for three years, aud, as the farro was last let for $132,000, the Government secures an increase of revenue from this source of $73,000 a year. The new farmer gives, we are informed, excellent, se. curity, and will pay the reut monthly. His Ex- cellency the Governor is certainly to be con- gratulated upon the outcome, so far, of his struggle with the old monopolists. When Mr. Hennessy resolved to endeavour to obtain what he considered would be a fair price for the Farm, be know there were great difficulties in his path, but he scarcely anticipated all the trouble there would be in gaining his end. When tenders were first advertised for, the only ones that came in showed very little increase on the old one, and the former farmers loudly protested that they could not give more than $150,000 per annum. His Excellency, however, would not entertain these offers, but still no higher tenders came in until the Singapore and Saigon Farmer was induced to visit the colony. Ho, after consideration,, offted $192,000, upon which the local farmers advanced to $200,000. It was then decided that soaled tenders should be sent in, and these were opened yesterday morn- ing at sight o'clock, when it was found that the Hongkong Farmers had offered $201,000 for one year, while their rival had offered $4,000 more for three years. His tender was, of course, accepted. Both parties stipulated that the more stringent provisions of the new Opinn Ordinance should be carried into effect. The successful competitor is a British subject, speak English fluently, and is reputed to be very wealthy. He has now acquired the monopoly of the preparation of the drug in the three colonies. Mr. Hennessy hes thus successfully broken down a combination which had been laboriously built up, and held together for a long series of years, with so much tenacity and closeness that it has hoon impossiblo to make any estimate of the value of the Farm, and for years the farmers contrived to get it at their own price.

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