(To the Editor of the ' London and China Telegraph.")
Dear Sre,—In Messrs. J. A. Sullivan and Co.'s Shanghai Share Report of March 26th, attention is called to the great discrepancy between the China and Tendon salue of Hongkong and Shanghai Banking Corporation shares, the difference then being no less than $128, or say at 1s. 91., (equal to £11 4s. per share in favour of London. This serious disadvantage under which shareholders on the China register labour is now intensified by the fact of the Treasury and Income Tax Office having called upon the Bank to furnish a return of dividends paid holders on the China. regi renders them liable to deduct come tax, and such sharehold-rs, though not domiciled in' the United Kingdom, have been called upon by surveyors of taxes to pay current as well as arrears of income tax. Whevh r the Bank was right in giving the Treasury the names of holders on the China register receiving vid ends in Londonis for the shareholders to investigate and contest; bit having disclosed the amount of dividends received, with their names and addresses, it scorns only fair and reasonable that the unfortunate China shareholders should at least be put on the same footing and enjoy the sane advantages asthe privileged few on the London register, and, similarly, receive their dividends when brid in London free from income tax. It is to be hoped the China shareholders will agitate this point insist on participating' in all the ben-efts and immunities reaped by the shareholders on the London register.—I am, ote
Text read from the printed page and cleaned; old type leaves the occasional error.