1
585
securities deposited by the Hong. Kong and Shanghai Banking - Corporation with the brown Agents converted at the present rate of exchange together with the sum of $82,000 in Chinese Bondo deposited in the Colony amount to less than the sum required as security against their
note issue, vir. $3,333,333,
but that
taking the market value of
these securities as
reported by
the Bank there is a consider-
able excess over that sum.
2.
>
2.
I am unable to find
any ruling
as to whether the
securities deposited with the Crown Agents
are
to be taken
at their nominal or market value and I shall be glad to have this point decided. Of the decision is
3.
that the market value is to be taken I have the honour to suggest that the Crown
Agents be instructed to furnish to this Government a quarter. by return of the securities -
showing
i