at my
minute
$16 million. If you will look
Saf 16703/12 you with in that he
Bank is trand to depoint com
in Londen a thing to the valu
$10,000,000*
3
to the value of
$15 million.
and
of Securitis
of
to
$5,000,000 + com in Ithang
notes usaed in excess
The returel amount held in London
£357,486
27-
& in it kong $ 16, 000, 000
which at 2 = £1,600,000
1
stal
or A
£1,957,606, apart from to ₤200,000
which thing have been asked to share.
Hit1.957.686.
como this notes then there must he
in üres $15,000, no
in respect of which
£ 833,333 (at-the $) is gained. $11181530, for which cash mut he held
Mi
It hong. apotal wine of note to the sabre of $26, 181,530. $26,181,530.
y
no more notes are in civen the deports an suficient & the CA. can selec
C
၁
Loopos worth & seuritis.
330
:th CA. that $16,000, to an held
breally o that they and ascertain from the
Bank the stal note nove
we andestand
they
; Jag
that
have been enquested
to whose securtis.
stal note wove
that if the
is not more then is carred
by $16 million + £351,486, thy can whose as aquested.
387/2
Rol 413
See now 7462, which has since come in.
The Head Office of the H.K. and S. Bank is
at H. Kong, and it is from there that the securi-
ty against the Bank's note issue must be con-
trolled. The Bank's reserve against its excess
note issue must be in coin. Against its ordinary
issue it may
be either coin or securities ( to an
amount fixed by the Ord.. and described in H
Mr. Robinson's mi
minute The fact that the Bank are
withdrawing securities in London and keeping
a large part of their reserve against the ordi-
nary issue in coin at H. Kong cannot be objec-