30.57.
No.
Hongkong.
Rec
...
C. O.
1125
6 APR 051
Government House,
Hongkong, 2nd. March, 1905.
177
Sov
sir,
51640/08
With reference to Lord Onslow's Despatch
No. 445 of the 29th. December, 1902, in which authority was
given to increase the Government Balances with the local Banks
from $350,000 to $450,000. I have the honour to inform you
that the Treasurer reports that the regular monthly payments
during the current year will amount to $500,000.
2.
It would therefore appear that the time
has come for a further revision of the balances with the local
Banks, and I have the honour to recommend that the limit
should be now placed at $700,000 in order to allow some margin
for increase over immediate requirements and that the distri-
bution should be as follows:-
Hongkong and Shanghai Banking Corporation.
Chartered Bank of India, Australia and China...
$400,000.
$300,000.
I have the honour to be,
Sir,
Your most obedient
Humble servant,
THE RIGHT HONOURABLE
ALFRED LYTTELTON, K.C., M. P.,
&C..
80..
&C...
What
Governor, &C..
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