CO129-447 - Governor Sir May - 1918 [1-3] — Page 327

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COPY.

Chartered Bank Buildings,

Queen's Road Central,

Pongkong, 13th December, 1917.

I have the honour to address you with reference

to the establishment of a Chinese Newspaper in Hongkong, the necessity for whion as a medium for the expansion of British Trade in South China after the war has been engaging the

of this Chamber & the Chinese Chamber of Commeres attention

n/for some considerable time.

Special Joint Sub-Committee Meetings have been hold with the object of arriving at the best method of launch-

ing such an enterprise, and as it is understood that the

Government is in sympathy with the scheme, I am directed to

place before you the position arrived at.

It has been decided to form a limited Company

with a capital of $150,000 to be raised by members of both

Chambers as required, and the Joint Committes anticipate nc difficulty in raising the required oarital providing the acheme is backed by Government.

advertisement

It is estimated that with receipts

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Thich would form a special and energetically pushed department, although probably during the first two

or three years of running the sexspaper may not show a working profit, still with enterprise on the part of the management

and support of Commercial Houses, both European and Chinese, there is no reason to doubt its profitable working once

firmly established and tactfully worked into Chirous favour.

There will of course at the outset be a carital

expenditure on machinery, type, &c. but this it is understood

will not be ocnetdenable, although no definite figure has so

far been submitted.

With these particulars now before His Excellency