CO129-324 - Governor Nathan - 1904 [10-12] — Page 480

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

479

Chinese in the Colony who had made the next highest tender to the successful one at the last letting of the Monopoly should be given an opportunity of taking over the Farm if they were willing to pay as much as $170,000 a month or more.

I agreed that they might be privately sounded on the point with some reluctance as there was danger that a refusal of theirs to make such a high offer might get to the ears of the Farmers. However, as the two parties are not on good terms the risk was not considered great by the Honourable Mr. W. J. Gresson who made the suggestion and I authorised him to ascertain the views of the parties in question.

He did so and found that they were not prepared to offer any terms at all as favourable as $170,000 a month.

11.

I thereupon caused the securities of the Opium Farmers to be informed that in the special circumstances of the case the Government was prepared to transfer the Monopoly to their nominees at the reduced monthly fee of $170,000 as from the 1st. of November. This offer was accepted and the necessary legal formalities are being completed to carry the change into effect.

12.

I trust that this action will have your approval. It is possible that the Opium Farmers might have continued to work their Monopoly rather than sacrifice the security. But there was the risk of a more serious loss to the revenue than will now be sustained had they resigned the Monopoly and there was also the consideration that to force them to carry on the Monopoly at great loss would almost certainly militate against a high letting of the Farm in the future.

The arrangement that has been made is far more

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479 Chinese in the Colony who had made the next highest tender to the successful one at the last letting of the Monopoly should be given an opportunity of taking over the Farm if they were willing to pay as much as $170,000 a month or more. I agreed that they might be privately sounded on the point with some reluctance as there was danger that a refusal of theirs to make such a high offer might get to the ears of the Farmers. However, as the two parties are not on good terms the risk was not considered great by the Honourable Mr. W. J. Gresson who made the suggestion and I authorised him to ascertain the views of the parties in question. He did so and found that they were not prepared to offer any terms at all as favourable as $170,000 a month. 11. I thereupon caused the securities of the Opium Farmers to be informed that in the special circumstances of the case the Government was prepared to transfer the Monopoly to their nominees at the reduced monthly fee of $170,000 as from the 1st. of November. This offer was accepted and the necessary legal formalities are being completed to carry the change into effect. 12. I trust that this action will have your approval. It is possible that the Opium Farmers might have continued to work their Monopoly rather than sacrifice the security. But there was the risk of a more serious loss to the revenue than will now be sustained had they resigned the Monopoly and there was also the consideration that to force them to carry on the Monopoly at great loss would almost certainly militate against a high letting of the Farm in the future. The arrangement that has been made is far more Page 480 Page 481

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: 479 Chinese in the Colony who had made the next highest tender to the successful one at the last letting of the Monopoly should be given an opportunity of taking over the Farm if they were willing to pay as much as $170,000 a month or more. I agreed that they might be privately sounded on the point with some reluctance as there was danger that a refusal of theirs to make such a high offer might get to the ears of the Farmers. However, as the two parties are not on good terms the risk was not considered great by the Honourable Mr. W. J. Gresson who made the suggestion and I authorised him to ascertain the views of the parties in question He did so and found that they were not prepared to offer any terms at all as favourable as $170,000 a month. 11. I thereupon caused the securities of the Opium Farmers to be informed that in the special circumstances of the case the Government was prepared to transfer the Mono- poly to their nominees at the reduced monthly fee of $170,000 as from the 1st. of November. This offer was accepted and the necessary legal formalities are being completed to carry the change into effect. 12. I trust that this action will have your approval. It is possible that the Opium Farmers might have continue to work their Monopoly rather than sacrifice the security. But there was the risk of a more serious loss to the revenue than will now be sustained had they resigned the Mono- poly and there was also the consideration that to force them to carry on the Monopoly at great loss would almost certainly militate against a high letting of the Farm in the future. The arrangement that has been made is far more Page 480Page 481

2026-06-01 22:12:19 · Baseline

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479

Chinese in the Colony who had made the next highest tender to

the successful one at the last letting of the Monopoly should

be given an opportunity of taking over the Farm if they were

willing to pay as much as $170,000 a month or more.

I agreed that they might be privately

sounded on the point with some reluctance as there was danger

that a refusal of theirs to make such a high offer might get

to the ears of the Farmers. However, as the two parties are

not on good terms the risk was not considered great by the

Honourable Mr. W. J. Gresson who made the suggestion and I

authorised him to ascertain the views of the parties in question

He did so and found that they were not prepared to offer any

terms at all as favourable as $170,000 a month.

11.

I thereupon caused the securities of the

Opium Farmers to be informed that in the special circumstances

of the case the Government was prepared to transfer the Mono-

poly to their nominees at the reduced monthly fee of $170,000

as from the 1st. of November. This offer was accepted and the

necessary legal formalities are being completed to carry the

change into effect.

12.

I trust that this action will have your

approval. It is possible that the Opium Farmers might have

continue to work their Monopoly rather than sacrifice the

security. But there was the risk of a more serious loss to the

revenue than will now be sustained had they resigned the Mono-

poly and there was also the consideration that to force them

to carry on the Monopoly at great loss would almost certainly

militate against a high letting of the Farm in the future.

The arrangement that has been made is far

Page 480Page 481

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