CO129-431 - Governor Sir May - 1916 [1-2] — Page 413

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by German firms.

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to moitablupil ad♪ to „ueerzoną bi „hodź um náð Ínel? .(1) adeeretni Leiomass) adt zukkoelka yliakolbujang nam alimất ym.

oð Tinīnu,noitibha mà

aysafet sát ra cho em bao „novinazosið marsi? adið að þau arrit dove lo stotihem adt bas y Jintaoð náð to adventni isio mome? sát énd↑ .(S) meded ad bivadlu ogode odmaidhyel Lin tedt babsamab ynoloŭ edt to “nok ni átod eberT moured to somewľtai galvơng sốt tastednwoo od nak ni bars good-

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410

The Commercial interests and trade of the Colony are prejudiced for amy reasons, chiefly by the hanging over the market of a lot of unsold but quite saleable stock; by the uncertainty prevailing as to the future which deters the chinese from entering into new business relations and Merchants from extending their business into new fields and particularly into those fields hither- -to largely occupied by German firms.

This situation would be largely remedied by the complete clearing off of the outstanding obligations of the liquidated firme and the consequent closing up of the business now in course of dilatory settlement.

My Committee note, with satisfaction, the contents of your letter to liquidators of 17th. November, which is a stop in the right direction and would welcome with still greater satisfaction the issuing of instructions fixing an early date for the completion of the sale of unsold cargo as distinct from cargo sold but tndeli- -vered.

5.

It will be appreciated that, as soon as trade is freed from the incubus it now suffers from as above indicated, both the interests of the Merchants as buyers and sellers of merchandise and the interests of the Colony as a distributing centre thereof will be equally served.

6.

That ingustios to creditore is being caused is beyond question. Bills are running on at large interest because the relative goods are not yet sold. Secured creditors are sitting on their securities to the prejudice of the unsecured creditors and the liquidating firms. Creditors of all dasses are being kept out of their money and their capacity for doing business must be thereby affected.

7.

My Committee is unable to ma mreservedly agree with p your statement that "the underlying principle of the present liquida -tiona is to carry out existing contracts and liabilities with the least possible disturbance to the trade of the Colony, and the Empire and the world at large outside enemy territory. The under-

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