38
4.
Furthermore experience with Companies registered in
the straits Bettlements, where it is becoming more and
more the habit for a Company to have a Local Register in
London, has shown that, owing to the lower rate of interest
that is expected from Investments in London, the emires
have gone to a considerably higher premium then pertained
in the Ast before the Tecilities of the London Market
become available.
The residence of most British subjects in the rar
Kast is transitory, and consequently when they retire,
they prefer to invest their savings in somec crapany, the
sh ́res of which re negoti ble in London. their operation
have been shown to have the affect of gradually greating a
market for the shares in London of companies registered in
the Straits bettlements hwing a London Register and thus
attracting to that place shares (on the transfer of which
Stamp uty is 1 wible) end leter dividends (on which
Income Tax is leviable) which in the ordinary case would
never rench Great Britain.
Your Petitioners would ask that (as in the case of
the traits Settlements Copies referred to above) the
right to keep a local register should not, in the case of
London, be restricted to places where the Comp my carries
on business, as admittedly the object of keeping such a
register in London is to improve the financial standing of
China Companies, although they many not (as indeed few of
them do), carry on business in England.
It does not appear to your Petitioners that there can
be any objection to doing this, as the right to keep such a
Register en te de subject to an unnu 1 licence to be
obtained from the inister, who would only sanction it in
the case of companies of proved financial standing.
IW
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