CO129-461 - Governor Sir Stubbs - 1920 [5-7] — Page 291

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does not appear that the control exercisable by means of action against the British directors has proved inadequate in any such case, or that the control would be increased by the

appointment of a British managing director. The exact signific-

ance of the acquisition of land in the British concession at Hankow is not understood. The holding of such land by a com- pany would apparently tend to strengthen the hold of the British authorities over the company, but there may be counter- vailing objections which are not known to me. It is believed that the company referred to in this paragraph is the Hoong On Steamship Company Limited.

5.

The other case is that of J. A. Wattie & Co.,Ltd.

It stated in the correspondence above referred to that this company were "endeavouring to repudiate the status of a China

company and the obligations it entails", relying on the fact that the articles of association vested the control of the com-

pany in the board of directors in London. Here again it does

not appear in the correspondence how the control failed.

6.

No doubt there were good reasons for amending the law, but as I am ignorant of those reasons I am unable to dis-

All that I can do at present is to point out cer-

cuss them,

tain other difficulties to which the new Order-in-Council has

given rise, and to put forward certain possible objections to the new legislation.

7.

Several companies registered here have branches at Shanghai. They are therefore Hongkong China Companies. Some of them, though mainly Chinese in character throughout,

appear to be genuine Hongkong enterprises. An instance is the

Sincere Company Limited. The Shanghai Manager must necessarily have a large amount of discretion and control. Possibly this

company does not come within the terms of the 1919 Order-in-

Council, because the business at Shanghai can hardly be said to be the business of the company, though it may be an important

part