517
the susceptibilities and the revenue of hongkong
must not be hurt.
Subsequently Ar Bourne showed me his memor-
endum on the same subject, copy of which is also
to be laid before you; and I found bat the diffi-
culties that had struck me had therein been far
more ably pointed out. lie has also added the im-
Mariscon
portant passion against forward contracts for
unspecified shares, which has done no much to check
share gulling in kongkong.
After hearing Mr Bourne's views, i ngree with
him that the possibility or even probability of
shares being held by natives in the names of
british trustees in order to comply with a provi-
sion that at least half the shares in a British
China Company cut be reserved for writons, is not
a sufficient objection to render such a provision
inadvisable, so long as such companies are forbidd-
en to issue bearer mares; for a premure that our
would
Court aili not, so far as the Company was concerned
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80
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