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MINUTES.
MINUTES NOT TO BE WRITTEN ON THIS SIDE.
IN: 231.
Sir,
133
40092
11 J021)
GOVERNMENT HOUSE,
HONGKONG. 14th June, 1921.
I have the honour to acknowledge the receipt of
Lord Milner's Circular despatch of the 21st of December, 1920,
with regard to the treatment of property vested in Custodians
of Enemy Property.
2.
I observe that legislation is contemplated in order to place the proceeds of the sale of property by Custodians
under the Trading with the Enemy Acts in the same position as property subject to the charge under the Treaty of Peace Order. When the contemplated Act has been passed similar legislation
will be introduced here, with a further provision to place the net proceeds of the liquidations under the Alien Enemies (Winding Up) Ordinances also in the same position.
3.
In accordance with the directions in the concluding
paragraph of the despatch under acknowledgment a sum of £275,000 was remitted on the 2nd of June by Telegraphic Transfer to the Crown Agents for the Colonies for investment in short dated securities. Of this sum £200,000 may be taken as representing the realisation of enemy assets and collection of dividends by the Custodien, and £75,000 the balances handed over to the Custodian by the liquidatore of various firms and individual estates on completion of the liquidations.
I have the honour to be, sir,
Your most obedient humble servant,
7.2. Stattes
Governor, &c.
THE RIGHT HONOURABLE
WINSTON CHURCHILL, M.P.,
&c.,
&C..
&c.