CO129-485 - Governor Sir Stubbs - 1924 [8-12] — Page 39

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All

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26

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betnow

wanted on this coast, and with freights down, I believe

I could easily pick the steamer on the U.K. Market.

It is now since 1918 some 6 years that the funds

have been in the hands of the Hongkong Government, so I do

not think that they would begrudge me having the use of the funds for such a period, as will put me on my feet again; as if I do not get some assistance of this nature, I shall

certainly go to the wall and lose our home as there is not

the slightest chance for me to make use of my shipping knowledge, if I have not got the tonnage at my disposal to operate upon.

Canadian Government Steamers. I know of a certain

class of vessel, owned by the Canadian Goverment, which I understand are for sale at reasonable prices; and, if such

is the case, it may be more desired by your Colony, that

they assist such Canadian Government by letting me invest

in these steamers; perhaps it could be arranged by the

Hongkong Government to take these vessels over at a price,

and hand them over to me; and I in turn at the expiration

of 10 years, undertake to buy them off their hands at their

original purchase price BINDING MYSELF DOWN IN THE INTERIN that whatever the steamers make in the period of ten years,

is to be paid into the Hongkong Government towards the

original cost of such vessels; and that as soon as they are

paid for in full, they become my property absolutely.

To my mind the latter proposition is the far most

feasible, as I am certain the Canadian Goverment would like

some of their numerous steamere (see Lloyda Register for

guidance) taken off their hands in these bad times, and in

this manner we would all be benefited.

If there is the slightest feasibility of this

being done, I would come down to Hongkong right way,

The composition with my Creditors was accepted by

the Supreme Court yesterday, and beyond a few details as

regards

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