«
would have been only reductim of £10 to be made, for brokerage & the cost of a telegramen, leaving an available credit of £9990.
5. But as the object
of the exchange operation
Was
to furnish the Agents money funds with a particular can,
^
it
is obviously useless to compere one operation, by which they would obtain £ 9860.4.1 with another which would
place at their disperal £999e. gggo.
the latter omn
6. To have placed with the Agents, with discount
at four percent explaye at 349
would have con
21
the Colony #$54,346
as will be seen
Is the
enclosed statement,
fromhed time better frown Agents whereas the cost of doing so by
the sale
Ja
bill here
with exchange at 3/8,
would have been, th $54,231
ایک
635
7. Bills sent from the Colins are frequently not
den informed.
discounted & a more
f
correct way of ereiving
relative merits of
the
operations would be to
the
breat the billy sent home
being
allowed to arrive
at maturity, which would
be 51⁄2 months from the date of purchase in the long.
Thus