CO129-429 - Public Offices & Others - 1915 — Page 172

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largest creditor it is understood being the Hongkong & Shanghai sank.

It is improbable that the whole of these gooda

much can be disposed of under another twelve months.

171

Several of the liquidators have stated that as watters now proceed the liquidation may take an indefinite period. Many of them have ample funds in hand and so long as they can pay their way their instructions are not to hurry the liquidation. one would advocate a "smashing off" of stocks, still the German business should be closed up as promptly as possible.

While no

Instead of this the impression is that the business is to be kept alive until the war is over and the Germans released, when they will in many cases find their houses set in order for them, good credits in cash in the banks and an opportunity for at once resuming business, in fact a letter somewhat to this effect signed by the Colonial Secretary was recently sent to the head of one of the largest German firms, who is in the prisoners' camp,

Liquidators are forbidden to sell the German

"chops", to dispose of houses or property, or indeed to

do anything but gradually dispose of stocks to the best

advantage.

There are at present rather over 300 prisoners

confined in Hongkong. It was felt that for several

reasons it would be batter were these men, many of whom

are business men belonging to this Colony, removed to

Australia, but we believe the Governor has refused to

consider the question on the ground of the expense.

une reason for urging the removal of the prisoners

WGS

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