would however suggest a compromise to the effect that interest at the rate of 1¼% per annum on minimum monthly balances be allowed on both accounts. The Bank accepting aggregate balances of both as forming the amount stipulated to be left on deposit with the Corporation. If this suggestion meets your views, I shall feel obliged by your laying the matter before His Excellency The Governor, and I shall be further indebted by your acquainting me with His Excellency's decision as early as convenient.
I have,
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(signed) J. McDowell,
Manager.
The Honble. W. M. Deane, Colonial Secretary.