CO129-423 - Governor Sir May - 1915 [7-8] — Page 101

IN: 252.

38631

REC?

REGE 20 AUG 15

98

HONGKONG,

GOVERNMENT HOUSE,

15th. July, 1915.

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19896.

I have the honour to acknowledge the receipt

of Mr. Harcourt's Despatches Nos. 118 and 139 of the 7th. and 21st. May forwarding representations made by Kesars. Mappin and Webb Limited regarding the winding up of the firm of Messrs. Gaupp and

Company.

2.

It seems that Messrs. Mappin and Webb regard Messrs. Lowe, Bingham, and Matthews, Liquidators of Messrs. Gaupp and Company, as being largely responsible for the present un- -satisfactory position of affairs, on the ground apparently that, as the firm is one of the best and oldest in the Colony, whose payments have always been satisfactory, there can be no other ex- -planation of the fact that its solvency is now in question.

3.

The Liquidators informed Messrs. Mappin and Tebb, under date the 27th. November, 1914, that they had received permission from the resident partner, who was interned in Hongkong, to sell the business as a going concern, and that they anticipated that they would be able to obtain a price which would enable them to pay all the creditors in full.

4.

The Liquidators had not had time at the date of this letter to make a detailed examination of the firm's position and they were relying largely upon statements made by Mr. Bunje, a senior Assistant in the firm, who had considerable experience of its business in Hongkong. There was no reason to

THE RIGHT HONOURABLE

doubt

ANDREW BONAR LAW, MP.,

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