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TELEGRAMS: RED LION, WENDOVER."
TELEPHONE: 3105 WENDOVER.
A.A.
R.A.C.
PROPRIETOR: CAPTAIN GEORGE FOAD.
YE OLDE RED LION HOTEL.
(ESTABLISHED 1619)
WENDOVER,
BUCKS.
22
12.8.40
My dear Gerard,
Northcare's proposalin
منعم لا
would be no as
advantage to H.P.6.
in a loan with interest, because the shall of the
Exchange
Fund is al
already
inverted in
giet-edged, except the liquid portion.
2) I think a
sift of the surplus
would be
bit too generous.
The H.K.
exchange position is
comfortable; that is is is safe cough
may
Studing but
master
10
To hech
need all the penas or can
Strally
The V.S. dollar.
Looking further ahead, in A. Kis nom
interests
To have hat surplus
I have always wanted
avai iable
་
маш
м
manaver
for vavimo
local pnancial projects.