$16
*))
(
524
And further as soon as Sections 2 and 7 have used up the preliminary 25 per cent deposit, the Government will only call on the lot-holders, at ten days' notice, as required by the contractor so that such funds would only be in the hands of the Bank a very short time. The same steps being followed with each successive section the available balance can never at any one time be much over what it now is, or will shortly be, say about $261,000.
As the Hongkong Bank has on some occasions granted accommodation in the shape of overdrafts to the Hongkong Government perhaps His Excellency the Administrator might do us the favour to telegraph home asking that the funds of the Praya Reclamation Scheme be left with the Bank until arrival of your despatches explaining these facts,- the cost of the telegram being defrayed by the Bank.
I have &c.
(Signed) Wade Gardner,
Acting Chief Manager,