CO129-416 - Public Offices - 1914 — Page 307

HONGKONG AND SHANGHAI BANKING CORPORATION.

HONGKONG.

303

27th November 1913.

My dear Stephen:-

With reference to your enquiry at the request

of Mr. P.S.A.Bourne us to the effect of the Keswick

Ordinance, (No. of 1891) there is no doubt it has put

stop on indiscriminte gambling in forward share

transactions. Of course forward share business is

still done without the numbers of the shares being

given, as brokers are prepared to take the risk of

signing for the concerned in the case of reliable people

but naturally would not do so to any extent when their

principals are of doubtful standing. I take it the

chief object of the Ordinance was to prevent gambling

in shares by persons who could not afford to lose money

and in that respect I certainly consider it has proved

Very beneficial. In many instances forward transactions

are quite genuine ones, although the numbers of the

shares are not given, as people object to the trouble

of giving the numbers, tut as mentioned above,

mist be reliable persons otherwise the brokers would

they

4.Stephen, Esq.

not