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CHATER, SIR PAUL CATCHICK
(Continuation)
Of purely material recognition, it might be noted that Sir Paul Chater was made a J.P. in 1876, was elected to the Legislative Council in 1887, appointed to the Executive Council in 1896, was made a C.M.G. in 1897, and knighted (K.B.) in (No Record).
Coming to the Colony unheralded in 1864, Catchick Paul Chater first found a position on the Bank of Hindustan China and Japan, but soon realised if he continued the humdrum daily routine of an office clerk he would miss far greater opportunities which offered themselves to those who had the courage to reach out for them. Resigning a position he had out-grown, he started in business on his own account, despite the warning of friends who feared that he might be throwing away the substance for the shadow. He had, however, learned something during banking hours which made him confident that much money could be made with careful business methods. He had seen the dollar rise and fall like the ocean tide, now at a level where buying was advantageous and now rising to a point where he could sell to financial gain. He therefore set up as an exchange and bullion broker, and with his own savings and with such money as he could induce friends to invest in his venture very soon was on the road to success.
At an
Another line of business soon opened itself up to him. He found that real estate was profitable. At an economical figure he purchased for his own use a piece of land on what is now Caine Road, and on it built himself a house which he occupied from 1869 to 1925, when, tenements having risen all round him, he decided to move to a more congenial location.
His first venture in real estate proved itself so successful that he purchased further property on the island, and then reached across the harbour and acquired more in Kowloon then not much better than a mud flat.
Sir Paul had great vision and great faith in Kowloon. "Chater's Bungalow" in Nathan Road, which he disposed of some years before his death, was long a landmark, and with its attractive grounds was the most coveted residence on the peninsula. Within recent years, the site has been covered with modern flats.
Then came one of Sir Paul's greatest ventures. Friends again feared that he would be sinking his money into the harbour. In fact, he did, but he got it out again a hundredfold. He started a godown business on the Kowloon waterfront. Before Sir Paul had become interested in the venture, some enterprising capitalists had commenced the building of a seawall for the reclamation of the foreshore. Prior to the work being completed, it was severely damaged by a typhoon. There were not many wanting who had but one thing to say of such ventures: "I told you so." How was it possible to erect a seawall that would withstand the terrific winds and waves that from
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CHATER, SIR PAUL CATCHICK
(Continuation )
Of purely material recognition, it might be noted that Sir Paul Chater was made a J.P. in 1876, was elected to the Legislative Council in 1887, appointed to the Executive Council in 1896, was made a C.M.G. in 1897, and knighted ( K.B. ) in ( No Record ).
Coming to the Colony unheralded in 1864, Catchick Paul Chater first found a position on the Bank of Hindustan China and Japan, but soon realised if he continued the hum- Grum daily routine of an office clerk he would miss far greater opportunities which offered themselves to those who had the courage to reach out for them. Resigning a posi- tion he had out-grown, he started in business on his own account, despite the warning of friends who feared that he might be throwing away the substance for the shadow. He had, however, learned something during banking hours which made him confident that much money could be made with careful business methods. He had seen the dollar rise and fall like the ocean tide, now at a level where buying was advantageous and now rising to a point where he could sell to financial gain. He therefore set up as an exchange and bullion broker, and with his own savings and with such money as he could induce friends to invest in his venture very soon was on the road to success.
At an
Another line of business soon opened itself up to him. He found that real estate was profitable. economical figure he purchased for his won use a piece of land on what is now Caine Road, and on it built himself a house which he occupied from 1869, to 1925, when, tene- ments having risen all round him, he decided to move to a more congenial location.
His first venture in real estate proved itself so successful that he purchased, further property on the island, and then reached across the harbour and acquired more in Kowloon then not much better than a mud flat.
Sir Paul had great vision and great faith in Kowloon, "Chater's Bungalow" in Nathan Road which he disposed of some years before his death, was long a landmark, and with its attractive grounds was the most coveted residence on the peninsula. Within recent years the site has been covered with modern flats.
Then came one of Sir Paul's greatest ventures. Friends again feared that he would be sinking hismoney into the harbour In fact he did, but he got it out again a hundred fold. He started a godown business on the Kowloon waterfront. Before Sir Paul had become interested in the venture some enterprising capitalists had commenced the building of a seawall for the reclamation of the foreshore. Prior to the work being complet- ed it was surely severely damaged by a typhoon. There were not many wanting who had but one thing to say of such ventures: "I told you so How was it possible to erect a searall that would withstand the terrific winds and waves that from
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