CO129-392 - Governor Sir May - 1912 [9-10] — Page 203

الوان الان اسبانيا البرتقال

#PY

anslation.

Enclosure 1.

C.O.

34364

191

Extract from "Tsun Wan Yat Po", HongkongReaf the 4th.

September, 1912.

(REG:30 OCT 12

The end of the Financial Company.

Though since the promotion of the establishment of the

Canton and Hongkong Co-operative Financial Company, which was

proposed by the Hongkong merchants and seconded by those of Canton,

the Canton merchants have been eager and ready to subscribe shares

to its capital, yet in the different subordinate districts and

other ports there is but a very small number of persons who have

taken up any shares. Further we learn that in Hongkong on account of various obstacles and difficulties, no wealthy private persons

or rich merchants have put themselves forward to take any res-

-ponsibility in the scheme, and that the Honkong merchants have

written on many occasions to that effect. Yesterday a general

weeting of the Company was held and it was decided that since the

commerce of Canton had gone to wreck and ruin and the Hongkong

merchants were unable to give their strenuous assistance, and it

was therefore utterly impossible to succeed in establishing the Company, the promotion of the Company should be abandoned from that day; that the shares collected by the Company and the Chamber of

Commerce should be refunded in full to the owners and that the 15

Provisional Officers who volunteered their services to the Company shiuld each contribute the expenses incurred in the promotion of the Company, so that the various shareholders might not suffer the

least loss.

Canton.

The above is an extract from the "Sheung Kun Po" of