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GOVERNMENT HOUSE.
HONGKONG. 12th July, 1921.
ssure
36177
sir,
2.
With reference to my despatch No.229 of the 13th
June, 1921, I have the honour to enclose a copy of a letter received by the Attorney General from a local firm of solicitors, and also a copy of the enclosure referred to in that letter, The letters in question reise a point of some difficulty, i.e., whether the charge created by the Treaty of Pence Order, 1919, affects the right of a German national to take up new shares offered to him after the 10th January, 1920, by virtue of his being the registered owner of shares which clearly are subject to the charge. One possible view is that the right to apply for new shares in such a case is subject to the charge, as being merely an incident of property which is subject to the charge. On the other hand, an ordinary mortgage of shares would probably not attach to such a right without express words covering the point. It may be that a similar question has arisen in the United Kingdom. If so, I shall be much obliged if I may be informed as to how the point has been dealt with.
The reference in Mr. Bauer's letter to the 12th July, 1919, is not understood. He may be referring to the licence to trade with German-Austria which was issued in 1919, but that licence appears to be irrelevant, as the right to apply for the new issue did not in any case arise until after the date of the ratification of the Treaty with Austria.
I have the honour to be, Sir,
Your most obedient humble servant,
THE RIGHT HONOURABLE
&0..
WINSTON CHURCHILL, M.P.,
&c..
80.
7.2. Stacks
Governor, c.
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