# 200,000 for the following 1 April & they might be instructed to draw monthly in advance to meet
spending further instructions to go on drawing equal monthly amounts according to estimated requirements.
As regards the special Praza Fund, it suggests that a great deal (in any case) must be required for local expenditure, it should be dealt with specially and deposited only against securities.
There seems no other way, unless we order it to England, much of it later to be remitted back, or (2) allow the continuation of the present excessive unsecured amounts entrusted to the Bank, which is unadvisable.
On the whole, I would suggest that the ordinary current account at H.K. Bank should, if possible, be kept down to £100,000 but should in no case exceed £200,000. Anything in excess should be put in the Strong Room or Chest where the Bank's securities are kept.
A second current account could be opened at another Bank ordinarily in connection with the current working expenses of the Praza Reclamation (see par. 3 of 157.94). This current account need not only have $50,000, and in the other two Banks, money could be deposited, from which the Praza Current Account could be replenished from time to time as required, but that such deposits should not exceed $75,000 and be against securities only.
I order that this be arranged without further delay and that, failing that, Agents be informed what amount they should draw so as to reduce the balances to the prescribed limit. I meanwhile instruct Agents as proposed above on 30/9/90.