331:
1
ted to, though, as securities earn interest
and coin does not, I regard it as a somewhat
disquieting feature, possibly connected with
the opium crisis and the rotten state of the
currency at Canton.
j
yor.
And we must rely
GOV.)
But we must insist in future on the Gov.
telling us in his returns such as 2946 how
much of the coins deposited are against ordi-
nary and how much against excess note issue
since otherwise we do not know what the auth-
ized excess issue is
? tell C.A. to release securities as
instructed by the Govt. of H.K., tell Gov.
as above with reg
regard
rd to his returns, and send
valuation to Treas., explaining.
ACC
4/3
4.3.13
-
to use that the mots
Hoose
Jean)
fully required by
kit for we
law.
by
check the fact the ordinary inas (with the secmitin
hens
C.A.)
Covers)
474 c.
ALL COMMUNICATIONS.
(ind)
TO BE ADDREBBED TO THE
CROWN AGENTS FÒA THE COLONIES, FOR
THE ABOVE REFERENCE AND THE
REFERENCE
DATE OF THIS LETTER BEING QUOTED.
TELEGRAMS, CROWN, LONDON."
TELEPHORE 1832 VICTORIA
RECO
CO
7405
Rrge 3 MAR 13
WHITEHALL CARDENS,
LONDON, S. W.
La 5037
5007/2
sir,
3rd March 1913
With reference to our letter of 17th
February 1912 and subsequent correspondence, I have
the honour to enclose, for the information of the
Secretary of State, the annual valuations of the
securities held against the note issues of the Hong
Kong and Shanghai Banking Corporation and the
Chartered Bank of India, Australia and China,
respectively, as on the 2nd January last.
security!
2. The valuations show, in the case of the
Chartered Bank, an excess of actual security over required
£9,758.12,7. but, as regards the Hong Kong & Shanghai
Banking Corporation, a deficiency of £512,598.17.10.
3. The following securities held against the
note issue of the latter bank have been released
during the year:-
2727,600
£10,000
£114,000 £100,000
2% Consols Certificates Transvaal 3% Guaranteed Stock
Certificates.
3% Exchequer Bonds India 24%% Stock Certificates
and during the same period #270,000 26 Consol Certifi-
cates and £44,500 Canadian Northern Untario Railway
he Under Secretary of State,
"
&c
&C
&c,
Colonial Office
-1-