CO129-339 - Acting Governor May Governor Nathan - 1907 [1-3] — Page 577

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Enclosure 1.

The Honourable

Sir,

Mr. T. Sercombe Smith,

573

C.O.

13567

Pres

Hongkong and Shanghai dânxih7 dBF, Chation,

dongkong, 18th. January, 1907.

Colonial Secretary.

Keferring to my interview with His Excellency

the Officer Administering the Government on the subject of an increase of the Capital of this Corporation, I have now the honour to enclose

for your information copies of resolutionspassed at a meeting of the Court of Directors tell yesterday,

The Directors are unanimous in consilering that

the time has come to again increase the Bank's Capitai.

The trale of the War Mast grows steadily and it

is incumbent upon us to see that we are in a position to finance our

large and increasing share of it in the interests of Depasitors, Share-

-holders and Traders alike. We are also happy to think that our pro-

-posed action wlli particularly benefit the trade of this Colony, withi

which the Hongkong and Shanghai Banking Corporation is so closely bound

up.

In virtue of the Resolutions referred to, I have

the honour to request that section 22 of Ordinance No. 2 of 1888

(the Ordinance under which the Corporation was incorporated) be amended

by altering the words "ten" in the last line to the word "twenty", so

as to enable our present Capital to be increased from time to line up

to Twenty Millions of Dollars, and if necessary to otherwise and

further amend the Orlinance so as to enable the Capital of the Corpora-

-Lion from time to time to be so increased.

It is proposed to increase the present Capital

of