Statement of Deposits with Local Banks during the six months
ending 31st December, 1937.
1. Fixed Deposits.
17
Bank
Amount of Deposit
Rate of Interest
Term
Due on
Hongkong & Shanghai
Banking Corporation
50,000
3%
12 months
9. 1.38.
do.
1,000,000
3%
12
21. 7.38.
do.
x 2,000,000
2%
12
##
4. 9.38.
do.
x 1,000,000
2%
12
19.11.38.
2. Current Accounts.
The general current account is kept with the Hongkong and Shanghai Banking Corporation and the average daily balance during the period 1st July to 31st December, 1937, was $2,195,981.52 The maximum balance was $3,287,410.56 on 14th July, 1937. On 31st December the balance on current account was $1,480,301.42.
The Note Issue Account, kept with the Hong Kong and Shanghai Banking Corporation on a non-drawing basis, represents money forming part of the Note Security Fund, being proceeds of the issue of $1 Government currency notes. The maximum balance
was $2,825,000 on 3rd September, 1937, and the balance on December 31st was $513,870.42.
The two fixed deposits marked X
in the above list are held on behalf of the same Fund.
The Nickel Coinage Account kept with the Hong Kong and
Shanghai Banking Corporation, is similarly held on behalf of the
Nickel Coinage Fund. The maximum balance was $1,670,614.35 on
6th December, 1937, and the balance on December 31st was
$388,517.76.
5. Gime
Financial Secretary & Treasurer.
The Treasury,
Hong Kong.
24th January, 1938.