SECRET
PRIORITY
CYPHER CAT A
GRS 120
230
231
RECEIVED IN
232
PA.
REGISTRY No. 51
FM FCO 291955Z
- 5 DEC 1973
(MF 9/393/1)
SECRET
3×11
ORWELL
DESKBY 291955Z
HKK5/1
TO PRIORITY GOVERNOR HONG KONG TELMO 1227 OF 29 NOVEMBER 1973.
MY TELKO 1226: STERLING GUARANTEES.
PERSONAL FOR HADDON-CAVE FROM BARRATT (NO DISTRIBUTION WITHOUT FINANCIAL SECRETARY'S AUTHORITY).
1. I THINK THERE MAY HAVE BEEN SOME MIS-UNDERSTANDING BETWEEN US ON WHERE YOU STOOD ON THE VALUATION POINT. BUT YOU WILL NOW SEE FROM OUR TELEGRAM UNDER REFERENCE THAT WE HAVE ACCEPTED
MARKET VALUATION THROUGHOUT,
2. ALL IN ALL WE HAVE, AS I KNOW YOU WILL RECOGNISE, GONE A LONG WAY TO MEET HONG KONG'S PROBLEMS, AND I HOPE THAT YOU WILL ROW DE ABLE TO CONVINCE EXCO THAT THIS IS, FROM HONG KONG'S POTIT OF VID, A VERY GOOD GUARANTEE. I HOPE TOO THAT YOU WILL US ABLE TO AVOID DRAWING ATTENTION TO THE VALUATION POINT, OR ANY TDICATION THAT PART OF THE REDUCTION IN ASP IS DUE TO A CHANGE IN VALUATION. THIS IS A PARTICULARLY SENSITIVE POINT FOR
US IN OTHER CONTEXTS.
DOUGLAS-HONE
ORWELL DISTRIBUTION
FRD
HKIOD
PS/MR ROYLE
.
SECRET