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Ref.:
THE NATIONAL ARCHIVES
CO 537/1369
restrictions. Further information is given in the enclosed Terms and Conditions of supply of National Archives' leaflet. Please note that this copy is supplied subject to the National Archives' terms and conditions and that your use of it may be subject to copyright
All Letters to be addressed to
THE CHARTERED BANK OF INDIA, AUSTRALIA & CHINA.
TELEGRAPHIC ADDRESS:
For Inland Telegrame
PAGODA, STOCK, LONDON.
For Foreign Telegrams
PAGODA, LONDON. Telephone No LONDON WALL 3688.
IS LINEDA
52
Dear Caine,
The Chartered Bank of India, Australia & Chiha,
PLEASE QUOTE-
Rof WRC/MH.
Hongkong.
38. Bishopsgate,
London
E.C.2.
26th August 1946.
45
I should like to refer to our correspondence regarding the inter-related positions of the British Banks in Hongkong, resting with your letter to me No. 15117/2/46 dated 31st May 1946, as I have just received from Gilmore our Hongkong Manager certain information which makes a settlement of that position a matter of some urgency.
-
-
Gilmore writes under date of 8th August:-
"Moratorium. The Hongkong Bank notified their
constituents that old and new accounts would be amalgamated from 1st July last and a news item to that effect appeared in the press on 18th ult. I tackled Morse on his action, but all he would say was, as he owed the Pool, there was no object in complicating his book-keeping more than necessary. He suggested that we creditor Banks should take up the matter with the Financial Secretary, as any possible pressure might assist in obtaining action. The enclosed copy of our letter to Follows is the result, but so far nothing further has been heard in the matter."
and a copy of the letter written by the creditor Banks three American Banks and ourselves to the Financial Secretary, Hongkong, is attached.
Naturally we shall not allow the fact that the
Hongkong Bank owe this Bank a large sum of money to prevent us from honouring any debts; but it seems anomalous, to say the least, that the Hongkong Bank should take this unilateral action, which cannot but reflect upon the other
/Banks in
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Ins