00080
Contnd:-
- 2
79
statement as there are too many uncertain factors involved. Certain items cannot be assessed until the terms of the special legislation covering intromissions by the Liquidators is decided. There is a further matter which may or may not be clarified by the contemplated legislation. Two American Banks maintained credit current deposit accounts with our Hong Kong Office and the Liquidator is understood to have repaid these Banks pre-occupation balances, presumably through the medium of "the pool". Whether, therefore, we are (1) to be considered liable to these American Banks for their pre-war balances or (2) to be liable for such portion of the balances as was not applied by the Liquidators in extinguishing equivalent liabilities of the respective Banks or (3) to be considered free of liability we have no means of knowing.
3. From the latest Returns we have received from Hong Kong we can supply most of the basic figures required; they are simple enough but at this stage I do not feel able to deduce anything from them that will supply the information you really want.
4. The following appear to be the main factors of the case. These figures may be subject to amendment if further information comes to light but I do not anticipate that there will be any substantial changes to be made.
ASSETS.
1
2.
3.
4.
Cash on hand on the 23rd December 1941 Unissued Notes
HK.$650,000 250,000
"Duress Notes"
...
...
...
...
Pre-occupation credit balance with the Hongkong Bank Proceeds of this Bank's Assets realised by the Liquidator
...
·
HK.$235,123.53.
900,000.-
1,428,232.86
980,103.05
LIABILITIES SAID
TO HAVE BEEN PAID BY THE LIQUIDATOR.
(a)
Credit Current Accounts repaid less internal transfers
American Bankers' Deposits repaid
...
...
.HK.$814,773.72
85,204.67 HK.$729,569.05
(b)
American Express Co. Inc. Nat.City Bank of N.Y.
1,338,203.66 200,186.80
1,538,396.46
HK.$2,267,959.51
ti
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Ref.:
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THE NATIONAL ARCHIVES
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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
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Please note that this copy is
CO 537/1369
"THE NATIONAL ARCHIVES
1
Ine
2
restrictions. Further information is given in the enclosed Terms and Conditions of supply of National Archives' leaflet. by is supplied subject to the National Archives' terms and conditions and that your use of it may be subject to copyright