483
of the Chuen Fa farm under the existing circumstances.
4. In addition to the cause already indicated there are two other principal factors which go to make our client's present posi-tion what we have already deemed impossible; these are that in the events that have happened his tender for the farm was considerably too high to admit of the same being worked at other than a loss and that the price that he is obliged to pay for the raw opium which he requires has very largely increased during the current year.
5. Our client has now been carrying on the farm for more than 6 months of the present term. During that period his average monthly loss has been about $71,000, representing a total loss of something like $423,000 and it is of course impossible for him to continue to carry on the farm under such circumstances.
6. Our client recognises that failure on his part to continue carrying on the farm may involve the forfeiture of the security provided by him, but of the two alternatives he not unnaturally prefers a certain present loss of $455,000 to a prospective loss of some $2,000,000 during the remaining 30 months of the farm term.
7. If therefore our client is to continue to carry on the farm he feels that it can only be on the basis of paying a considerably smaller rental to the Government therefor than he is at present paying and for such a reduction he accordingly now begs to apply.
8. We have the honour to add that it is doubtless within the knowledge of His Government that very large reductions have just lately been granted by the Government of the Straits Settlements in respect of the Singapore and Penang farms under similar circumstances.
The Hont J. D. Kay, C.M.G.
Colonial Secretary.
We have etc.
(Signed)
Deacon, Looker & Deacon.
483
of the Coian Faru under the existing circunstances.
4. In addition to the cause already indicated there are bxo other principal factors which go to make our client's presedb posi- tion what we have already beened inpossible; these are that in the events that have happened his tender for the Faru was considerably too high to admit of the sane being worked at other than a loss and that the price that he is obliged to pay for the raw opiun which ne requires has very largely increased during the current year.
5. Our client has now been carrying on the Fara for more than 6 months of the preseat tern. During that perioi his average monthly loss has been about $71,000, representing a voual loss of
something like
$423,000 and it is of course inpossible for him to continue to car- ry on the Faru doden such circumstances.
6. Our client recognises that failuce 30 his part to con- tine carrying on the Fars may involve the forfeiture of the securì- by orovided by him, but of the two aliaratives he not annaturally prefers a certain present loss of 4555,000 to a prospective loss of some $2,000,000 during tas ceneining 30 nonthe of the Barn tern.
7. If therefore our client is to continue to carry on the Fard he feels that it can only be on the basis of paying a consider- ably smaller rental to the Government therefor than he is at ors- sent paying and for such a reduction he accordingly now bees to apoly.
3. We have the honour to all that it is donciless within the knowledge of bals Government that very large reluctions have just lately been grantel by the Goveranont of the Straits Settlements in respect of the Singapore all Penang Farts under similar circaa-
stances.
The Hon: d. d. Kay, 0.4.6.
Colonial Secretary.
We have etc.
$1,
Deacon Looker & Deaco0.
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