613420-1930-Supplementary-Advertisements — Page 6

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26. Cheques shall be drawn on the Order of the Committee and shall be signed by the Chartered Account- ants and countersigued by two Members of the Commit-

tees.

INVESTMENTS.

27. All monys standing to the credit of the Endow- ment Fund shall be invested by the Committee in the corporate name of the Corporation or in the names of its nominees upon the investments authorised in this Ordi- nance and any such investments from time to time may be sold and the proceeds thereof invested in other such investments as aforesaid as and when the Committee shall direct.

Objects and Reasons.

1. By the terms of an Agreement dated the 20th day of February, 1930, made between His Majesty King George the Fifth of the first part, the Missions to Seamen in Hong Kong of the second part, and the Trustees of the Sailors' Home Hong Kong of the third part, the Missions to Seamen in Hong Kong and the Trustees of the Sailors' Home agreed to amalgamate on the terms therein set out. The main object of the proposed Ordinance is to secure the amalgamation of the two corporations and their work and objects under the name of The Sailors' Home and Missions to Seamen, the Missions to Seamen in Hong Kong and the Trustees of the Sailors' Home being respec- tively dissolved.

2. The Trustees of the Sailors' Home have for many years carriel on the work and object of the Sailors' Home at the premises situate at West Point, The object of the Sailors' Home has been the care of officers and ins of the Mercantile Marine irrespective of their religion and also the provison of a suitable home for the sea-faring classes and officers and men aforesaid. Owing to the changing nature of the Colony's needs it has been felt for some years that the Sailors' Home does not now meet the needs of the officers and men for whose use the premises are inteade 1, owing to the distance of the building from the centre of the town. The Trustees of the Sailors' Home have recently agreed with the Hong Kong Government for the surrender to the Government of the property at West Point in consideration of the sum of $900,000.00.

3. The Missions to Seamen in Hong Kong is a brauch of the Missions to Seamen whose head office is in London and whose organization embraces the whole world. The work and object of the Missions to Seamen is the provision of an institute for the welfare of the sea-faring classes and in pursuance of such work and object the use of every means consistent with the principles and rites and practice of the Church of England. The Missions to Seamen have for many years successfully run an institute at 21 Praya East, but owing to the development of the Praya East Reclamation this property is no longer on the water-front and as a building the institute is not sufficient for the combined purposes of the Missions to Seamen of and of the Sailors' Home.

4. It is intended that the new corporation shall erect a suitable building on a site belonging to the Missions to Seamen on the Praya East Reclamation and shall carry on therein the beforementioned work and objects of the Sailors Home and Missions to Seamen.

5. The proposed Ordinance follows in its main lines other incorporating Ordinances which have been passed from time to time. The Regulations appearing in the Schedule govern the internal Management of the Corpora- tion.