COPY.
Enclosure 1.
239
20503
REC
Paraphrase of Cypher Telegram. REGI MA16
..Governor, Hongkong.
Fran.
To...
Date.
Secretary of State.
...................19th. January, 1916.
Referring to issue of 5% Exchequer Bonds free of
income tax to Foreign Residents suggest that bonds to amount of £50,000 in denominations of £10, £25, £50 and £100 be forwarded to this Government to be issued through the Hongkong and Shanghai Bank to applicants here and in South China,
Please say if British Residents in Hongkong and China but legally domiciled in Great Britain can take up bonds free of taxes and what form of registration is necessary to
ensure payment of interest free of tax,
May.