GOPY.
No. 214.
10.05
Sir,
No.1.
C. O.
10285
IPED
REG 24 MAR 06'
Colonial Secretary's Office,
Hongkong, Zist. October, 1905.
194
I have the honour to enclose for your consider-
-ation a copy of a letter from the National Bank of China, Limited,
relating to the attachment of certain coal in Canton.
The National Bank of China, Limited, as mort-
-gagees of that coal, are by English Law the legal owners of the
coal which is therefore their property. Assuming, though it is not
admitted as a fact, that Mr. Chad Tung Shang had an interest in the
coal, that interest would not amount to more than a right to an
equity of redemption and would not constitute his legal owner of
the coal.
In view therefore of the mortgage executed
in January, 1905, and registered in your Consulate in February,
1905, both dates being anterior to action taken by His Excellency
the Viceroy against Mr. Chau Tung Shang whose name does not appear
in the mortgage deed, it would seem that the mortgagees acted bona
fide in advancing money on the security of the coal to Mr. Fung ha
Cbún the only mortgagor named in the deed.
His Excellency the Governor would be glad there-
-fore if you would urge upon the Viceroy that by Boglish Law the
National Bank of China, Limited, which is a British Corporation
registered in London, are the legal owners of this property subject
only to a right of equity of redemption in Mr. Fung Wa Chuo alone;
that all the circumstances of the case point to absolute bona fides
on the part of the Bank and Mr. Fone who could hardly have mortgag-
-ed the property as sole owner without the cognizance of a co- ritannic Majesty's Consui-General,
-owner
Canton.
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