CO129-431 - Governor Sir May - 1916 [1-2] — Page 525

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the hanging over the market of unsold but saleable stook and the

uncertainty prevailing as to the future, and it is muid that the situation would be largely remedied by the complete alearằng off of the outstanding obligations of the firms which are in Liquida- -tion and the closing up of businesses "now in couras saf dilatory

settlement".

3.

The Government wish at the outset to repudi-

-ate my sugɛestion that the liquidataan as a whole have been 27

-latory in thusar dusiem. It is true that in some cases ora

have complained that they have been kept in ignormos of i

position and that their interests have not been sufficim

protected, but the Government believe that the liquidatorr

generally have done their best under difficult conditions

endeavouring to carry out the desire of the Governmont

speedy a conclusion of the liquidations as is consonan

interests of the creditore as a whole. The no maabart

Committee of the Chamber who are liquidators thesel appreciate the difficulties which have been encounter.

4.

As regards the particular otatamer

-sold but quite saleable stock has been kept hæging o

market, it is to be regretted that the Comittee,

must have some details or instmoes in their minds, het

given the Goverment the benefit of their special knowls

this point, and it is worthy of remark that no notice har

teken of the invitation in my letter of the 23rd. Beptorbi

for information of definite instanges of undue delay, The 6

-ment are unaware of any case in which stocks are being impr

-ly held back and would be glad to have any such case bre

their notice. Meanwhile, steps are being taken to coll

-tion on this point. It will of course not be forgott war and the political conditions of the neighbouring. the

conséquent state of the market, have throw. special di