L 4A
LOWE, BINGHAM & MATTHEWS, HONG KONG
14
reason to believe that this Bank did not faithfully
carry out its obligations under the terms of Japan
Trade.
All Banks were not able to give total figures
as to commissions, etc. collected and paid over as they
did not anticipate a request for such information. How-
ever, all Banks, with the exception of The Chase Bank,
have certified that to the best of their knowledge and
belief they collected and paid over for account of the
Hong Kong Government all Commissions and Exchange Dif-
ferences due during the year ended 31st March, 1951,
in respect of all Letters of Authority and Transfer
Authorities opened by them during the year ended that date in accordance with the agreed arrangements with
the Department of Commerce and Industry (Supplies Branch)
for banking procedure in connection with Japanese Trade.
Therefore, in view of the eminent reputation and standing of all Banks concerned, we have no reason
to doubt that all Commissions and Exchange Differences
due during the year ended 31st March, 1951, have, in
fact, been collected and credited to the appropriate accounts maintained by The Hongkong & Shanghai Banking
Corporation for Government.
BALANCE SHEET
LIABILITIES
Treasury Suspense Accounts - $53.273.726.39 (net)
We have seen a certificate dated 18th May,
1951, from the Accountant General confirming these
balances at 31st March, 1951.
Open Account with The Supreme Commander Allied Powers, Japan. US$17.516.676.42 @ 5.67 - HK$99.319.555.38
This U.S. dollar liability to S.C.A.P. arose