47
be required for expenditures in the Colony, and I solicited His Lordship's instructions on the subject. My view was concurred in by your Lordship's predecessor and consequently no further remittances have been made for investment, whilst the following additional sums have been placed
in the Bank's bearing interest at 5 per cent
in the H.K. $185,259
in the Oriental Bank 20,000
in the Chartered Mercantile Bank 90,000
in the Chartered Bank of India, Australia 160,000
3.
Total now deposited
305,259
230,000
90,000
160,000
Total 785,259
I am requesting instructions have been
Kindly
July 1882
6081762
normally been current about the
Oriental Bank whose shares are known to have fallen very considerably in value,
a remittance of £12,000 had to be made to the Agents (Messrs Crown Agents) as it was considered that the best arrangement practicable was to take a Bill upon that Bank for the amount in payment of a deposit that would fall due in a month, and a Bill drawn on the Bank of Scotland, Edinburgh, was accordingly procured and sent on the 13th ult. The deposits in the Oriental Bank have thus been reduced to $170,000 though until