Extract from ho. 28 on 52702/5-14
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The Canton authorities are still in hopes of
raising a loan from the Chinese merchants of Hong Kong
and have recently been in negotiation with Sir Robert
Hotung, the head of a well-known family, which comprises
many of the leading compradores of foreign firms and
controls a good deal of the native wealth, of the Colony.
Sir Robert Hotung came to Canton on the 20th of April last
as the result of an official invitation and was formally
entertained by Marshal Li Chai-sum and other official
and commercial hosts, evidently on the understanding that
he would undertake the flotation of the desired loan. He
informed me that the sum mentioned was 5 million dollars
and the security offered was the Washington surtaxes.
the time he spoke to me he seemed very doubtful whether,
in the absence of collection by the maritime customs,
could induce his friends to lend their money on such a
security, and I have since received no further authoritative
information on the subject. It appears, however, from
articles in the press that the negotiations are continuing
and that there are still hopes of raising money in this
quarter.
At
he
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