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at about (HK)400 million. Hong Kong and Shanghai Bank is arranging for further (HK)400 million to be flown to Colony. U.S. dollars T.T. price on the local free market has risen to $5.81 as compared with $5.73 on 1st May; the price of gold has risen to $275 ($263 on 1 May).

(Passed as requested and advance copies to

Foreign Office, F. E. Dept.)

Distribution

H.K. W.I.D. 'C' I.G.D.

J.I.C. EXTERNAL DISTRIBUTION

DEPARTMENTAL DISTRIBUTION

Copies also sent to:

Cabinet Office

Foreign Office

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D.I.O., J.I.R. Mr. de la Mare

Mr. Bolland

Mr.

Wils on

Mr. Denson

Mr. Foggon

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