7 10th
desp no. 222 of October 1890 st
should
be so for modified
to the following
The maximum
extent.
balances, $350,000,
may
be divided
between the two Banks, provided
that not more
than $200,000
remains in the
Hongkong Shanghai
Bank, and not
more than $150,000
in the Chartered Bank
of India, Australia
& China. It will therefore be necessary for us to further
reduce the balances
in the Hongkong
Shanghai Bank.
They appear to be in doubt as to whether the Hongkong & Shanghai
Bank allows interest at the rate of 1 1⁄2 per
cent on the current
account of the Praya
Reclamation Fund,
since the advertised
rate of interest for
all current accounts in that Bank is only 2 percent. I should be glad to receive an explanation from you on this point.
3. As regards