ALL COMMUNICATIONS
TO BE ADDRESSED TO THE
CROWN ACENTS FOR THE COLONIES.
PRESSING.
IREC
C. O.
9322
(REGE 31 MAY J4)
670
DOWNING STREET, LONDON.
30th May 189 1.
Hong Kong & Shanghai Bank Guarantee.
th May 1894.
Sir,
I have the honour to forward herewith a copy of a let-
-ter which we have received from the Manager of the Hong Kong
& Shanghai Banking Corporation requesting that, as the secu-
-rity now held against the note issue of that Bank is, at pres-
-ent valuation,larger than is required, £35,000 Chinese Gov-
-ernment 6 per cent Bonds held here may be released, as well
as $42,000 Chinese Silver Loan Bonds, part of $124,000 held
by the Colonial Government.
The Manager estimates, that after withdrawals, there
will still remain a surplus of about $67,000 over the nominal
amount of the note issue. In this calculation he takes the
s d
s d
dollar at 2/2, the actual current rate being 2/1.
It appears to us that the request is one which the
Trustees can properly grant, and we enclose, for your signa-
-ture, a letter to the Chief Cashier of the Bank of England
to deliver the securities named therein to the Hong Kong and
Shanghai Banking Corporation. We also propose to telegraph
to the Colonial Government, at the expense of the Bank, to
deliver to the Bank $42,000 out of the $124,000 held in Hong
Kong,
Sir R.H.Meade
K.C.B.
Colonial Office
I have the honour to be,
Sir,
Your Obedient Servant
Ammar