with Suction XIII of the Ordinance of 1856.
The Hongkong & Shanghai Banking Corporation,
31, Lombard Street, London, E.C.
11th August, 1892.
The Under Secretary of State
for the Colonies.
C.O.
16197 Commercial Department.
Downing Street.
12 AUG 92
hard to gauge
on the general aspects,
on the shareholders in respect of these
Carting unlimited liability in the note issue
The
question is one for the Treasury, not
I think in succeeding them their letter he need
not say anything to down the proposal.
15.8.92
I have added what Graham's draft B
contains per commmm, to carry out the
ahm ongguctions EZ
kuding in
Shear the Bank are
signifying a delay with they write again.
wait Rm 13/0 at once
M.O. 14701
Referring to my letter
of the 21st of July
(ultimo) enclosing a copy of my
letter of the same date to the Lord's
of the Treasury.
I beg to advise you
that I have since been in
telegraphic communication with the Head Office the Bank in Hongkong, and now submit the following for your consideration.
The total amount of notes in circulation at the Head Office and Branches on 30 June, was $6,700,000, of which $3,000,000 were in circulation in Hongkong, and $2,500,000 in the Straits Settlements: leaving $1,200,000 for all our other Offices.
My proposition is, that our note circulation in future be limited to $7,000,000 as at present, and that the issuing of notes be confined to Hongkong, the Straits Settlements and Shanghai. Our issues at the other ports to cease altogether.
The power to issue notes would then be as follows, viz:
For Hongkong $4,000,000 Shanghai $500,000 The Straits $2,500,000 $7,000,000