CO129-416 - Public Offices - 1914 — Page 301

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proposed legislation in the form of King's Regulations.

As to the first point there can be no doubt that

the Ordinance of 1891 has effected in Hongkong exactly

what is needed here, namely it has stopped corners, un-

due inflation in share values, and share gambling on

the part of persons who cannot afford it. I enclose the

opinions of the Hongkong Registrar of Companies, of the

Colonial Treasurer now Acting Colonial Secretary and of

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the Chief Manager of the Hongkong and Shanghai Bank

Hongkong which prove this.

In regard to the suggestion that British Brokers

might be by these Regulations put at a disadvantage

compared with their foreign rivals, I referred to Mr.

Stephen, the Manager of the Hongkong and Shanghai Bank

at this port, who asked me to state my question in

writing.

I enclose my question and his reply.

I enclose a letter from Mr.Garstin the Senior

Assessor at the Mixed Court expressing the opinion

that the Mixed Court here would give practical effect to

the Regulations as against Chinese Defendants.

In the enclosed draft I have extended the applica-

tion

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