COFY FOR REGISTRATION 53343/2434

Telegram from the Governor of Hong Kong to the secretary of

Stale for the Colonie:

12

Dated 11th December, 1939.

Roco 134952), Spo 41th Decombes,

زا

No. 441. Confidential

Σ you

11 DEC 339

C. C.. BM

You telegram No. 320 Confidential.

Preporod

loan. No immediate zeed for cash and I have nothing to god so

ele. the opening paragraph of my telegram No. 409 confidential enemyyt

(a) that in view of w rid conditions market might conceivably

deteriorate and (b) that if for any reason revenue declined from

its present very high level situation would be less

embarrassing if adequate liquid reserves were available.

You

may consider awaiting the arrival of ca ne and consultation with

hil.

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(^;) ng al

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