A.
474 C.
ALL COMMUNICATIONS
TO BE ADDRESSED TO THE
GROWN AGENTS FOR THE COLONIES,
THE ABOVE REFERENCE AND THE
DATE OF THIS LETTER BEING QUOTED.
TELEGRAMS, "CROWN, LONDON." TELEPHONE 1832 VICTORIA,
2.5.
5126!
403
WHITEHALL CARDENS,
LONDON, S. W.
12th February 1914
sir,
caq40713
With reference to our letter of the 3rd
March 1913, I have the honour to enclose,for the
information of the Secretary of State, the amual
valuations of the securities held against the note
issues of the Hong Kong & Shanghai Banking Corporation,
and the Chartered Bank of India Australia and China,
respectively, as on the 2nd January last.
2. The valuations show, in the case of the
Chartered Bank, an excess of actual security over the
required security of £26,442.12.2., but as regards the
Hong Kong & Shanghai Banking Corporation, a deficiency
of £467,001.13.6.
3. During the year 1913 two amounts of
Consols Certificates, representing a value in each case
of £100,000 were deposited by the Hong Kong & Shanghai
Banking Corporation, but they were subsequently released
on instructions being received from the Colonial
Government. Consequently the securities deposited by
that Bank remain unchanged, except that the value has
depreciated from £351,486 to 2338,670.5.0. Owing, however,
The Under Secretary of State,
&c
C
&c,
-1-
Colonial Office