WVLAV
that the balance at the credit of the Account should not be less than $35,000 exclusive of current account, and that interest at the rate of 2 per cent per annum would be allowed on the minimum monthly balance.
On the 27th April last $37,849.77 were paid into the Oriental Bank under the heading 558272 of the Hong Kong Government Special Fund, and it is in reference to this money that the matter is reopened, and the rate of interest proposed to be lowered to 4 per cent.
Respectfully I submit that an opportunity is given for a reconsideration of the whole question with the view of ascertaining if better terms could not be obtained at other Banks.
Shane 4.0,
(Signed) C. May, Acting Colonial Treasurer.