CO129-462 - Governor Sir Stubbs - 1920 [7-10] — Page 109

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4.

If any such licences were granted, good ground of complaint would be given to those

Americans and Japanese who had heretofore con- trolled 'China Companies' and who have complied

with the Order-in-Council and renounced the

management of such companies.

The interest of the Hongkong Government in companies incorporated under the Hongkong Companies Ordinance but carrying. on business outside the Colony was prior to 1915 and is now confined to the revenue derived from fees payable by such com- panies. The amount remitted by the Shanghai Registry to the Colonial Treasurer for the last financial year ending December 15th 1919, in accordance with Article 17 of the China Companies Order-in-Council 1915, was Dollars Ninety-two thousand eight hundred and seven and eighty-three cents Shanghai currency (892,807.83). The revised contribution paid by the Government of Hongkong towards the upkeep of the Shanghai Registry of Companies by recent arrangement is now in Hongkong Dollars Three thousand; which, as last paid, amounted through the greater exchange value of the Shanghai dollar than of the Hongkong dollar to 82,400 only.

In the course of the correspondence which took place in 1919 with reference to the amount to be remitted to Hongkong from the Shanghai Registry, ad the allowance to be made for that Regis- try's upkeep, Mr. Claud Severn, the Officer then administering the Goverment of Hongkong, informed H.M.Consul-General here on the 30th of April of that year that the volume of work in the Hongkong Registry was "not considered sufficient to justify the appointment of a special clerk or the setting aside of a special telephone."

The Inter-departmental Conference of 1913 came to no final decision as to the allocation of fees paid in connection with the incorporation of, and the returns to be made from time to time by, Chine Compenies which were still to be incorporated

under