CO537-(1262-1649) — Page 279

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Mr. Dastur had in fast obtained the release of shares to the pre war value of over H.K.$2,200,000.

When after the re-occupation of Hongkong the Bank, on January 2, 1946, wrote to är.Dastur in the matter of his overdraft, he replied that he had been compelled to pay the Liquidater.

Mr. Dastur admits that his statement was untrue. His account shows that the greater part of his debt was paid in

He explained instalments of Military Yen 45,000 and 90,000. that each instalment of M.T.45,000 represented the proseeds of the sale of one share in the Union Insurance Society of Canton. It appears therefore that in February, March and April 1944 one share in the Society which stood on Desember 6 1941 at H.K.$450 realised M.Y.45,000 - in other words for overy share valued at H.K.$450 in 1941 he was able to repay

This transaction his overdraft to the extent of H.K.$180,000. serves as one conerete example of the devaluation of the Yan at that period.

Yours sincerely,

A.Morse.

The Hon. Mr. 0.0.8.Follows, C.M.G.,

Colonial Secretariat,

TONG ÔNG.

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Ref.:

THE NATIONAL ARCHIVES

CO 537/1374

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restrictions. Further information is given in the enclosed Terms and Conditions of supply of National Archives' leaflet.

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