as in favour of the project, but did not appear particularly enthusiastic about it, nor did they seem prepared to undertake to apply for any fixed amount if issued. The Treasurer of
of the Straits informed
to
average
me in answer
my enquiries that the issue for the last 10 years of cents, half cents, and quarter cents had been $50,000, $700, and $400 respectively
With this evidence before them, the managers of the Hongkong and Shanghai Bank felt unable to advise the issue of the proposed coin in Hongkong. $10,000 worth of 1/2 cent coins would apparently cost about £900. The profit at present rate of
the
C
401
the # would be therefore trifling. "I advise that no steps be taken in the matter at present.
(signed) N. G. Mitchell-Innes,
9th June, 1894.