A 474 C.
ALL COMMUNICATIONS
TO BE ADDRESSED TO THE
CROWN ACENTS FOR THE OOLONIES,
THE ABOVE REFERENCE AND THE
DATE OF THIS LETTER BEING QUOTED.
TELEGRAMS, "CROWN, LONDON."
TELEPHONE 1632 VICTORIA
1 enclosure
sir,
CO
8182
RCC Rra 13 MAR 12
259
WHITEHALL CARDENS,
LONDON, S. W.
16th March 1912
I have the honour to acknowledge the receipt of
Ca your letter No.5037/1912 of the 7th March concerning the
valuation of the securities held against the note issue
of the Hong Kong and Chenghel Banking Corporation.
2. We were aware that Ordinance 0.6 of 1907 geve
powers to the Bank, under certain conditions, and with
the consent of the Governor, to increase its capital,
and its note issue from $10,000,000 to any amount not
exceeding $20,000,000 but, until the receipt of the
enclosures contained in your letter, we had not been
informed either that sanction had been given for an
increase of the capital under this ordinance or of the
amount of such incrense.
3. The Ordinance further provides that additional
security,
, equal in value to the increased capital, shall
be deposited by the Bank before the ordinary note issue
is increased beyond the previous limit vir.10,000,000.
We have not been informed when the ordinary note issue
was thus increased; but we conclude that, if it was
increased
The Under Secretary of State
&C &c & C
Colonial Office
m