445
and Shanghai Bank while the deposit with it continues considerably in excess
of
those in the other Banks.
The sums in the
New Oriental, Mercantile,
and Chartered Banks are
on
fixed deposit, while
the portion
in the Hongkong
and Shanghai Bank is
for the reason above
stated on current account.
The total amount
on current account with
the
latter Bank is therefore
about $250,000, but the
Acting Treasurer reports
that
a remittance of
$100,000 will be made at
once.
6.
It is possible that
other arrangements will
be
necessary
when Mr.
Brown's requirements for
plant etc. for the Reclamation
are known. On
receipt of
his report I shall at
once communicate further
with