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that sum on the 1st instant a sum of $75,000 was withdrawn from the Hongkong and Shanghai Bank and deposited with the Chartered Bank of India Australia and China, $50,000 being placed to the credit of the Praya Reclamation on fixed deposit at 4½%, and $25,000 to the credit of the Government at current account.
The New Oriental Bank Corporation having been closed and the Chartered Mercantile Bank being under process of reconstruction, it is impossible to withdraw any sum for deposit with them from the Hongkong and Shanghai Bank, in which the balance of Government funds on the first instant amounted in consequence to $275,000, being $150,000 above the limit named in your predecessor's despatch No.922/15778 of ...