D
No 104.
RECEIVE
2 APR 1928
COL. OFFICE
Sir,
525214
GOVERNMENT HOUSE,
HONGKONG.
25th February, 1928.
28
30099/27
no20
Enclosures 1 - 3.
tinell, to î
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With reference to Mr. Ormsby-Gore's despatch
No.268 dated 1st September, 1927, on the subject of the
security required in respect of the excess note issue of the Hong Kong and Shanghai Banking Corporation, I have the
honour to enclose for your information a copy of the
correspondence which has taken place with the Bank on the
subject.
2.
It will be seen that the Bank now suggests
that the most convenient arrangement would be that sovereigns should be "earmarked" by the Bank of England on behalf of the Crown Agents, and I submit this proposal for
your favourable consideration.
3.
It is understood that Sir Newton Stabb has
been in communication with the Treasury and the Bank of
England on the subject and that the arrangement proposed
would be acceptable to the Treasury and the Bank.
I have the honour to be,
Sir,
Your most obedient humble servant,
Cement
Governor, &c.
THE RIGHT HONOURABLE
LIEUTENANT COLONEL L.C.M. S. AMERY, M.P.,
&C..
&c.,
&c.