CO129-475 - Governor Sir Stubbs & Acting Governor Claud Severn - 1922 [5-7] — Page 314

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stating that Messrs. Lowe, Bingham & Katthews were unable to reconcile the statement that the secretary of State for the Colonies had expressed the intention that your Petitioners should be paid for all loss actually incurred by them and the additional statement "i.e. excluding loss in respect of future profits", as loss of future profits was a loss actually sustained by your Petitioners and that it therefore seemed only reasonable that one of the items of your

Petitioners' claim should be compensation for the loss of the goodwill of the business of which the Hongkong Government had by dispossessing your Petitioners obtained the benefit.

On the 4th day of May 1921 The Honourable The Colonial Secretary of Hongkong replied stating that the words "1.8. excluding loss in respect of future profits" were those used by the Secretary of State for the Colonies in referring to your Petitioners' claim for compensation and he added

that it was not the intention of the Hongkong Government to

consider any claim based on loss of future profits,

7.

8. Messrs. Lowe, Bingham & Katthews proceeded with their

investigations and on the 30th day of November 1921 they completed their report a copy of which and of the survey

report by Mosers, Carmichael & Clarke Marine Surveyors of

Hongkong therein referred to is hereto appended,

9.

Such report shows that your Petitioners have suffered

a loss of $346,250.00 made up as follows :-

Loss by resumption of Piers

10.

Loss in capital value of launches

Loss of goodwill as an asset

17,850.00

78,400,00

250,000.00

346,280,00

The said report was submitted to The Honourable The

3.

Colonial