It is proposed to bring into force from the
1st of January
Though
next
$
DESPATCH.
Governor.
Date.
1893
No.
96
10 May
Last previous Paper.
Gov 4077
Public Works Department, Hong Kong No. 9433
(Subject.)
RECEIVED C.O. 9733 (Rec'd 13 JUN 93)
Praya Reclamation Fund
By special agreement the UK & Shanghai Bank allows 4.5% interest on the current a/c.
(Minutes.)
M. Farfield - See also 19731
44
I have talked to Mr. Ommanney about this, & we think that the probable explanation is that this so-called current account - which is not often & slowly drawn upon - is half in the nature of a deposit account. The special agreement referred to (particulars of which might have been sent home) provides for drafts to be drawn only after a few weeks' notice, or at regular intervals. The amounts required are doubtless known some time beforehand with tolerable accuracy.
? Putly. 5. W. 3.22/12
W. atouri Rule 23/6 C.P.K. 22/12