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Hongeling South Development
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73092/4
Directors engerne whether deposit of
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a sand intein uth. copy of this litter to for at
12/3/20 alon
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5-16 per
*7/3/20
phone: Avenue 6100.
PHERBERT SMITH,
Sollaltor.
HS/IL
The Under Secretary of
The Colonial Office,
60. Mark Lane,
London, 8.0.3.
13th March 1920.
503
C
13603
Downing Street. sw.18 15 MAR 20
Sir,
Hong Kong Development Co. La
With reference to your letter (6696/20) of the 13th February; I have the honour to inform you that all arrangements had been made to go into the Press on the 31st instant for floating the Company.
Not having received replies to our cables to Hong Kong, however, the Directors have been unable to complete their financial arrangements sufficiently to go to the public, and the issue has had to be postponed.
The Directors are of the opinion that the Solicitors in Hong Kong have been unable to proceed without Kr. Bowley, who is not due to arrive in the Colony until the 14th instant at the earliest, after which he will require several days before dispatching his telegram, which may not arrive until after the 2nd April.
W
With reference to your letter (6117/1920) of the 7th February; the Directors will be obliged if you will kindly ascertain from the Hong Kong Government whether the deposit of £5,000 in England will be accepted, this being the equivalent of $50,000. at the normal rate of exchange (27-).
I am,
Sir,
Your obedient Servant,
Vernerssons.
Solicitor to the Company.