268
1° 114.
25 AP: 21
GOVERNMENT HOUSE,
HONGKONG. 11th March, 1921.
Sir,
With reference to Lord Milner's Circular telegram
of November 13th, 1920, I have the honour to inform you that it has proved impossible to give any adequate estimate of the cost of the Local Clearing Office, owing to the fact that the duties of Controller are being, and have been, carried out by officers
entrusted at the same time with other duties also.
I propose
therefore to make no claim on Imperial fund for this purpose.
2.
I propose to authorize the Controller to charge
a commission of 2% on all debts paid by him to British creditors and the amount so collected will be paid to the Imperial Govern-
ment without any deduction for local expenses.
3.
As regards the expenses of the Custodian of Enemy Property it is proposed to adopt a rate of 1% on the proceeds of sale of all property vested in him under the Treaty of Peace Order, 1919, and on the proceeds of the sale of all securities of which he has been entered as the proprietor under the said Order. Legislation will be introduced shortly to this
effect.
I have the honour to be,
Sir,
Your most obedient humble servant,
7.2. Stabb
Governor, &c.
THE RIGHT HONOURABLE
WINSTON CHURCHILL, M.P..
&c..
&c.,
&C.