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Sir,
30238
5=7
GOVERNMENT HOUSE,
HONGKONG. 14th November, 1927.
امي
With reference to my Confidential despatch
of the 23rd September, I have the honour to inform you that,
in accordance with the statement made by the Colonial
Secretary when introducing the Public Works Loan Ordinance
(page 82 of Hansard for September 1st), it was decided to
raise $3,000,000 of the $5,000,000 Public Works Loan
authorised by Ordinance No.14 of 1927.
2.
The subscription list was opened on 17th
October and closed on 22nd October. Applications were
**
3:
received for allotment of Bonds up to a total of $11,711.000.
A Board consisting of the Attorney General
(Chairman), the Colonial Treasurer, and a representative of
the Hong Kong and Shanghai Banking Corporation was appointed
to consider applications and allot Eonds. Applications by
charities, and applications for moderate amounts were granted
in full, and other applications on a sliding scale.
4.
There can be no doubt that the Loan meets a
want as an opening for the investment of trust funds.
I have the honour to be,
THE RIGHT HONOURABLE
&c.,
Sir,
Your most obedient humble servant,
w.d. Southoch.
Officer Administering the Government.
LIEUTENANT COLCHEL L.C.L.S. AMERY, ...P.,
&c.,
&c.