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5. It is possible that during the last few months such a measure may have been passed by the Imperial Parliament as would form a model for similar legisla- tion here. But should this not be the case I should be glad if Your Lordship would inform me whether there is any objection to the passing of an Ordinance in the direction pointed out by the Directors of the Company or, if this is not considered desirable, whether Your Lordship is of opinion that I should assent to the Bill which has been passed by the Colonial Legislature.

6. There is no doubt, as is indeed admitted by Mr. FRANCIS in his letter, that all the formalities required by the Standing Orders of the Legislative Council as affecting this measure have been fulfilled which are substantially the same as the requirements mentioned in Article XXIII of the Royal Instructions of the 19th of January, 1888.

7. I understand that the Directors of the Company in question are desirous that something should be done in the matter without delay and I should therefore be obliged if Your Lordship would communicate your decision to me as soon as

convenient.

I have the honour to be,

My Lord,

Your Lordship's most obedient,

humble Servant,

F. FLEMING.

P.S.-Copy of the Ordinance above referred and copy of the Memorandum of Association of the Company are enclosed for Your Lordship's information.

Hongkong. No. 126.

DOWNING STREET,

3rd July, 1890.

SIR,

I have the honour to acknowledge the receipt of your despatch No. 130 of the 3rd of May last, enclosing an Ordinance which has passed the Legislative Council, but has not received your assent, to give increased facilities to the "Hongkong Land Investment and Agency Company, Limited," and asking for my instructions as to the course of action which you should take thereon.

My opinion is that you should not assent to this Bill which will therefore remain inoperative. Nor should you assent to any future private Bill specially empowering this Company to alter its Memorandum of Association, but you should introduce a Public Bill similar mutatis mutandis to the Companies (Meino- randum of Association) Bill copy of which I enclose, which has passed the House. of Commons and is now before the House of Lords, and has been amended by the Standing Committee. If such an Ordinance is passed, the Company can proceed under it by special resolution to make the desired alteration of its Memorandum of Association, and apply to the Court, which in Hongkong would of course be the Supreme Court for an Order confirming it.

The alteration of the Articles of Association of the Company as to investment can be made under the existing law by special resolution.

I have the honour to be,

Sir,

Your most obedient humble servant,

The Officer Administering the Government of

HONGKONG.

KNUTSFORD.

Bill.'