CO129-447 - Governor Sir May - 1918 [1-3] — Page 284

and

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A

with the scheme for what

it

does not seem

CONFIDENTIAL.

cufficient reason for treating

theem harshly & causing them to lose them ontley.

to have spent a good deal

the affair, and they

au

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fairly confident

float them comfany,

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of being att

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& give

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the expenditure involved.

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Rea? 1 MAY 18

GOVERNMENT HOUSE,

HONGKONG. 22nd. February, 1918.

279

With reference to Viscount Harcourt's Confidential Despatch of the 26th. of September, 1914, and to

previous correspondence on the subject of a scheme for the development of a portion of the South side of the island of Hongkong, I have the honour to transmit for your information the enclosed copy of correspondence with the Solicitors of the Promoters.

2.

I wish to draw particular attention to the correspondence with my Private Secretary regarding an application by the Hongkong Hotel Company for a site for an Hotel at Deep Water Bay within the area covered by the

abortive agreement with the Promoters; and to the last two

paragraphs of the Crown Solicitor's letter of the 28th. of

July last.

The Promoters have failed to raise any

capital locally for their project, though there is plenty of

idle Chinese money in the Colony, or to form a Company to

finance the scheme, which, if my information is correct, is

merely a speculation of a small syndicate who no doubt, hoped to dispose of their rights, if and when scouired, to others.

1 consider that it would be waste of time

3.

I think therfore they

should be allowed their mouthes longer. This

ought

Leise

& be enough time to enath them

capitat beatty, if they have been

Soing ahead in the last month

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Enclosures

1 to 28.

THE RIGHT HONOURABLE

WALTER LONG, M.P.

&c..

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to