TELEGRAPHIC ADDRESS: BONIFACE, LONDON.
ALL LETTERS TO BE ADDRESSED TO BRITISH BANKING CORPORATION, THE HONGKONG & SHANGHAI BANKING CORPORATION.
[CORRESPONDENCE DEPARTMENT.]
513
Hongkong & Shanghai Banking Corporation
R. H. Meado
Lombard Street
15348.
Assistant Under Secretary of State,
Colonial Office,
Downing St. S.W.
Referring to our interview of today about the amended Ordinance this Bank is seeking to obtain in Hongkong. I beg to point out the very strong position the holders of our notes occupy.
It appears to be impossible that any loss could arise to them through the suspension, or even complete failure, of the Bank. They hold very complete security as follows, viz:
1. A paid-up capital of $7,500,000
2. A Reserve Fund of $4,300,000.
3. Unlimited liability of our Shareholders as our note issues are far...