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cms
Ref.:
CO 537/1369
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 copynght
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cms
Ref.:
THE NATIONAL ARCHIVES
CO 537/1369
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
restrictions. Further
information
is given in the enclosed Terms and Conditions of supply of National Archives' leaflet.
6.
(4) The amount of this fiduciary issue would
be reduced year by joar by the issue to the Bank without payment of a Certificate of Indebtedness fɔr a sum equal to the dɔllar equivalent of a proportiền of the net incɔme of the long «ong me hange tund for the year in question, such proportion to be arrived at as explained in sub-paragraph (5) below, until such time as the whole of the additional fiduciary issue referred to in sub-paragraph (3) ab¬ve had been so eɔvered.
(5) The proportion of the annual net incɔm® of the Exchange Find tɔ be aɔvered by the issue of a Certificate of Indebtedness tɔ the Bank would be such proportion as the mum of
16 million bears to the tɔtal face value of the notes issued by the Japmese autɛorities, after defueting the dɔllar equivalent of the sume to be paid in cash by the pmak to the
xohange und as provided in sub-paragraph (8) above.
înder these proposals the Pank's liability would be clearl; limited and its ¡Fobable ultimate
1-as confined tɔ the immediate cash jayamat of $1,000,000. The whole of the remaining 1ɔss involved, the amount of which is unknɔw, would rest with the govern:snt through the Hong Kong Exchange Fund. uch a settlement representa, in ur. Hall's view, the maximum extribution which
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