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The Crown Solicitor reported that he had received notice from the Hongkong and Shanghai Bank that 408 Bonds of the Imperial Chinese F loan (estimated at $283,333) deposited with this Government among securities against the Bank's note issue, had been drawn for payment, and that it would therefore be necessary to withdraw them from among those securities.
2. The Bank offered to deposit in lieu of part of the value of the 400 bonds, 262 Debenture Bonds of the China Merchant Steam Navigation Company of £100 each.
3. Seeing that the total value of securities previously deposited, amounting in all to $2,738,592.06, gave a considerable margin over and above the $2,500,000