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000 18
44
Colonial Office, Dover House,
Whitehall, S.W.1.
1st May, 1946. 77
Dear Crichton,
Many thanks for your letter of 29th April about the settlement of the duress notes issue. Your figures will require some examination here, and I shall probably wait to hear from Cockburn before expressing any further view. The only comment I want to make at this stage, therefore, is a minor one. You say in your first paragraph that I explained at our meeting on the 5th April that it was a term of settlement with the Hong Kong and Shanghai Bank that they would repay other Banks' pre- Occupation deposits with them to the extent that such funds had not been applied in discharging liabilities of the depositor Lest there should be any misunderstanding, I should like to make clear that this was not included in terma as part of the duress notes settlement with the Hong Kong Bank, but it is implicit in the arrangement contemplated with regard to the asttlement of debtor-creditor transactions, and I have every reason to believe that the Hong Kong Bank will accept the obligation.
Yours sincerely,
Bank.
(Sgd) S. Caine.
J. B. Crichton, Esq.,
The Mercantile Bank of Indiu, Ltd.
1
2
Ref.:
CO 537/1369
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