192513-1932-Supplementary-Bills-read-a-first-time--City-Hall-Resumption-Liquors-Amendment — Page 3

574

hereinafter expressed, that is to say, Provided lastly that the said demised premises shall not nor shall any part thereof be used for any other purpose than for a City Hall and that in case the said demised premises or any part thereof shall thereafter be used for any purpose other than for a City Hall, then in every or any such case the term estate and interest thereby demised in the said premises shall thereupon absolutely cease and determine and it shall and may be lawful for Her said Majesty, Her Heirs Successors and Assigns by the Governor of Hong Kong for the time being or other person duly authorised in that behalf into and upon the said demised premises or any part thereof in the name of the whole to re- enter and the same to have again retain reposess and enjoy as in Her or their first or former estate and as if these presents had not been made and the said lessees their executors administrators and assigns and all other occupiers of the said premises thereout and thence utterly to expel put out and amove, this Indenture or anything contained therein to the contrary notwithstanding."

6. It is believed that of the three lessees the last survivor was Phineas Ryrie, who in Suit No. 93 of 1890 unsuccessfully claimed an injunction against the Government from proceeding with the Praya reclamation opposite Marine Lot $2, and who died on the 21st February, 1892, devising to the trustees of his will, their heirs, executors and assigns, subject to the trusts and equities affecting the same, all estates vested in him as trustee. Letters of Administration with the will and codicils annexed were 'granted on the 14th April, 1892, to A. W. Walkinshaw, attorney for C. Carey Smith, one of the trustees of the will. The Letters of Administration were not registered against the title in the Land Office and since that date none of the representatives of the lessees seem to have concerned themselves with the property in any way.

7. The buildings appear to have been erected by public subscription, commencing in 1865, each individual, firm or corporation subscribing $100 received a so-called "ordinary share", and 216 of such "shares" of a total nominal value of $21,600 were issued to 61 "shareholders". As the building proceeded it was found that the sum subscribed was insufficient and Sir Robert Jardine, whose firm held fifteen "ordinary shares" appears then to have subscribed $50,000 and to have received 105 so-called "preference shares" of various denominations but totaling $50,000.

8. If these "shareholders' are to be regarded as an association for the purpose of carrying on any business having for its object the acquisition of gain by its individual members it will be illegal under the Companies Ordinances of 1865 and 1911. No interest or return has ever been paid, however, to the holders of any of these shares, the whole income, supplemented by occasional government grants, having been devoted to the upkeep and improvement of the building, with the exception of a small reserve fund which now amounts to about $4,000.

9. The buildings have been managed hitherto by a committee which appears to have been elected by the original subscribers with power to add to its number. None of those originally elected remain, the present members having been co-opted as occasion arose. The senior member in Hong Kong of the firm of Jardine, Matheson & Co. is chairman of the committee.