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position of Acting Chief Manager and is telegraphing

to all branches in following terms.

Begins.

(Here insert as at X attached.) Ends.

Public annancement is being made decorar Morse is confident that branches will

accept this arrangement without demur but in

due course Morse's actions will have to be

validated either by subsequent confirmation

by Grayburn as substantive Chief Manager or

by legislation either in the form of a Hong

Kong Ordinance or an Imperial Order in Council. Immediate legislation does not appear to be

necessary.

accordingly.

E is

Secur

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