cabstitute for tangible security with the growth of the bank's business the requirement of full security is held to be even more infortant now than in 1907
similar fufusal
when a
is
refured.
of a Col.
Moreover, even in the care
Got note save
the fresent fractice requires
that the whole off the sauce did be covered
by wi
nivestments
amrud 10
yo funt in
it does with pum
in the direction
of allowing.
to a bank what was not be allowed to a
4to is thisfor considnes that
Col Out. Therefore any ordurary note wone
in excess of the first $10,000, vos did be
present
Fully
covered as in the case
イ
the
RAFT.
5,000,000
+ Amary
note come in exceso
of the hist
$10,000,000.
To regards the frofeoul that local
in Ching
Morris fold be taken wito account in
total)
rohowing the murity held, there is no obgin in foinciple to a forfention of the security being held at places other than Along where notes are
waved From the
practical fount of view it and be posible to secure that "changes in the holdings are notified fempty of thing, thing ohd michude the China figures in their retums,
But
MINUTE.
Grindle.
BH. Lambert,
7. Read
G. Fiddes.
Amery.
-Churchill,
But the
question of the safety
of such deforts is
serious the Treas.
undre
Dyre
inchmied to take the new that
only
MAENKO
access be
Baughai
held at certain
founts such as
p Trentoni shabe
allowed to rank.
The For. of the is being unsel She
the fosition is being by
blamejsent t দন, re
# to the
refering the forth question of the safety of deforcts in Cherie, and as to whether
AM Consenter Offices
deposité, & writ
About the s
can undertalle the denty of supercising due
Jus cancersty
day changes in the
deports wander their
couts.
(Signed) G. GRINDLE