54126/4/47
Dray:8
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45
Wt. 29446/552 9/46 50m. S. & S. Ltd.
C. O.
Palmer
Mr.
son
2/8/47 5/8. V. mensile
Mr.
Galsworthy
Mr.
Felt
Mr.
alsmrtly 7/8
MR. May ayah as draps
Permt. U.S. of S.
Parly. U.S. of S.
Secretary of State.
i for Treann
concurrence
DRAFT.
CODE TELEGRAM.
GOVERNOR,
HONG KONG.
I consider that
che
fell
provision for $150 million should be
in the Lon
made
On and not- repeat not $100 millum as proposed
Leathe
para
ветро
[4] of your telegram No.889.
呵
FURTHER ACTION.
No..
56]
1.
Confidenhal
Your telegram No. 1152. Loan.
In of your representations
I agree to the Loan ordinance making
borrowing
provision for tour up to $150 millions
in all,
2.
but for
reason
gwen
be wou
It is Suggested that it would increas
women boy in comages of the prospects of access of the loan if it
were floated in three parts, uz:-
(a)
Tap issue be made available up to a
maximum of (say) $50 millions in
first case at 31% p.a. with
Sinking Fund of 1 p.a.
Jay
(b)50 millions might take the form
La premium bond issue bearing
small
interest at 1% p.a. A cervizzin
member
weer.creations of the bonds (each year
to be redeemed at prices above the
issue price, the premium being
met from the saving of 21%
interest. A copy of Palestine
Ordinance, No. 27 of 1944,
authorising the issue of premium
by saving on
bonds is being forwarded for your
information.
t
(c) $50 millions might be held in
reserve for further issue as