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Jurisdiction óf V. H. "upremn court (namely on a Shanchal
Register) are aenets of the estate in Shanghai and must
pay duty as such. It would sous that the claims of the
authorities in england and in Shanghai are not consistent
with the claims of the Hongkong authorities and that if
the claim of the Colonial authorities is valid no duty is
payable either in England or Shanghai on shares of a com-
pany such as the Shanchai Gan Company Limited.
Put until
thie dieputed point le settled sutater will resain liable
to payment of duty both in Shanghai and in Hongkong.
It
is needl688 to dwell on the hardship occasionad by such a
state of things. The direct cause of the present trouble
is the changed attitude of the Hongkong Government hut it
can easily be traced back to the great and rapid progress
of Shanghai, the numerous openings for the investment of
surplus capital, and the necessity of obtaining a limita-
h
tion of liability for investors by remistaring companies
at the nearest place where registration could be obtained.
similar
A similar development of the shipping industry led to
Shanghai being made a port of registry and to the appoint-
ment of a consular officer as Registrar of Shipping.
It is
parhaps
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