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22167
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75. Gracechurch Street.
London
REG?
22 18 JUN 14
Dear Sir John,
AC
15th June 1914
Treas
312
2001 6
I have your letter of the 13th
instant. I regret to learn there is
disinclination on the part of the Treasury to
revise the present terms of this Bank's Note Issue in Hong Kong, and as you suggest I will address them direct.
I note you state the Treasury point out that the terme suggested by our Hong Kong Manager would be more favourable to us than
the terms under which the Chartered & Hong
Kong Banks work.
This is correct in a sense only.
When the Chartered and Hong Kong Banka were
granted their Isanes their paid up capitals were $8 million and $ 10 million respectively,