In the reply to this Letter the following Number should be quoted.
14304
12
4 Summediate
TREASURY CHAMBERS.
5 August
August 1912.
C. O.
24017
CR
PFGE 3 AUG 12
66
Triko
40673
00.
Ca
Sir,
In reply to Mr. Read's letter of the 12th ultimo (20915/1912) forwarding a copy of a letter from the Crown
Agents for the Colonies relative to a request received from the Hong Kong and Shanghai Banking Corporation to be
allowed to substitute £44,500 Canadian Northern Ontario Railway Company 1st Mortgage 34% Debenture Stock for an
equivalent value of the Consols held as part of the security
against the Bank's Note issue, I am directed by the Lords Commissioners of His Majesty's Treasury to request you to inform Mr. Secretary Harcourt that They approve the proposed
substitution, subject to the proviso that such approval
must not be taken, as pledging Them to give authority in the
future for other investments in the same or similar Stocks.
While ready to approve the occasional holding among the note guarantee fund securities of sound securities
not falling within the categories mentioned in Treasury Letter of the 12th December 1900 (20080/00), My Lords desire that the bulk of such securities should conform with the
directions given in that letter.
The Under Secretary of State,
Colonial Office.
I am,
Sir,
Your obedient Servant,
LO