In the reply to this Letter the following
Number should be quoted.
13168
90
sir,
314
13712
Rece
hee 23 SEP 30
TREASURY CHAMBERS,
22 September
186970
7819
I am directed by the Lords Commissioners of Her Majesty's Treasury to acknowledge the receipt of Mr Meade's letter of the 29th ultimo, with its enclosures, further respecting the matters pending between Her Majesty's Government and the Hong Kong and Shanghai Banking Corporation.
Their Lordships observe that, for reasons of practical convenience, Lord Knutsford has decided to have two sets of Trustees for the Securities deposited by the Bank in connection with their note issue. In Hong Kong the Trustees will be the Colonial Treasurer and Colonial Secretary, and in London, the Crown Agents and the Permanent Under Secretary of State for the Colonies.
It is provided that the total value of the Securities deposited shall be always maintained at the required amount. No Securities are to be given up in Hong Kong (except in exchange for other Securities of equal value), unless and until it has been telegraphically ascertained that an additional deposit of Securities has been made with the London Trustees.
I am to request you to inform the Secretary of State that They approve of this arrangement, provided always that, in case of Exchange, the new Securities are of a kind approved by This Board. It is of course understood that no Securities held in London will be given up without ascertaining
The Under Secretary of State,
Colonial Office