1282—150) Wt. 38815-61 10,000 12/39 T.S. 695
C. O.
Mr. Martin. 3/2/40 Mr. Caine 3/2 Mr. Shi 1. Campbell
2/2
57/2/40
53593/40.
Hong Kong.
उ 35
28
น
SUBJECT TO TREASURY OBSERVATIONS.
사
Mr. C. J. Jeffries. Is Gent 5 ton
Mr. A. J. Dawe.
Sir J. Shuckburgh.
Permt. U.S. of S.
as
off for Treasur
No. Confidential.
Your telegram of 19th
Parly. U.S. of S.
Secretary of State.
(21 on
January, No. 33. Loan.
1939 file).
DRAFT. CYPHER
GOVERNOR,
HONG KONG.
TELEGRAM.
At 95 with average life
of 122 years yield to redemption
exceeds 4%. While not in a position
to estimate local possibilities I
am advised that the proposed price
seems unduly favourable to investor
having regard to recent rise in
FURTHER ACTION.
price of War Loan and possibility
that conversion of 4% loan here
may lead to further general lowering
of rates.
In circumstances I consider
best