is a
is there all right. The difficulty practical one, the debentums are not
legally secund by making the
a
large
on rectume & assets & therefore it was Carsidens that an issue would not h marketable.
Berly
Personally I she share thought for that the market ind have sufficient.
Crown Colay
confidence in
the foot fa
ga
to accept debiutons, even through unsecured but it will be best to
have arrryetting of ship shape & there this is certainly is no hurry
favourable time for
á
not
issue
1
? As proposed
RY 2-111
Ak
2/4
11.
H.Kong Loan A.123
ALL COMMUNICATIONS
TO BE ADDRESSED TO THE
CROWN AGENTS FOR THE COLONIES,
THE ABOVE REFERENCE AND THE
DATE OF THIS LETTER BEING QUOTED.
TELEGRAMS, "CROWN, LONDON"
TELEPHONE 1832 VICTORIA.
sir,
309
C.O.
34057
REC? REG 29 OCT 12
WHITEHALL GARDENS,
LONDON, S. W.
28th October 191r.
the receipt
P
I have the honour to acknowledge,
of your letter of the 17th October, Fo.soling, on the
subject of the provision of funda for the completion of the Canton Korloor Railway,
2.
Ir reply, I have to inform you that in vier of
the unfavourable condition of the loney Market there
appears to be little prospect of raising the amount
required within the next nine molitha, in the form of
Inscribed Stook, es suggested by the Governor of Hong Kong.
3. It appears from the more recent correspondence
in which the question of the issue of the balance of the
loan authorised by ordinance No.11 of 1205 has been
mentioned, that it has been overlooked that we have pover
only to raise money by a loan in the form of Inscriber whock
and that the authority to issue Tonds
otherwise
short-Cobed or
which by tile enactment of Ordinance No.10 of
1905 it was intended to confer on ue, is inoperative
owing chiefly to the fact that the General Loan & Inscribed
Stock Ordinance of 1897 lays down the procedure for the
management of a Stock Loan only and that it contains no
si ilar
The Under Secretary of State,
&C.
&0. 20.
Colonial office.
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