CO537-(1262-1649) — Page 341

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CO 537/1374

THE NATIONAL ARCHIVES

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restrictions. Further information is given in the enclosed Terms and Conditions of supply of National Archives' leaflet. his 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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2 154 C

Copy for File 15148/17/46.

ORIGINAL ON 54139/46.

Downing Street,

3.7.1.

22nd Hay, 1946.

123

Dear Pudney,

Thank you for your note of the 9th of May, 1946 enclosin, the provisional balance Sheet aa at 31st December, 1945 of the Long Kong Exchange T'und. I soo that the investments are valued at "book or market value whichever is the lower". This is contrary to the usual practice of Colonial currency and other Government funds which is to value investments uniformally at market prices. I Lave not investigated what was the pre-war practice in this matter of dealing with the liong Kong Exchange lund accounts bat it is sug osted that in future the practice of valuing the investments at market price should be followed.

I assume that the ong Kong Covernment will tale up with the Crown Agents direct the disposal of the ↑ digera referred to in para raph 2 of your note of the 9th of May, 1946.

I am sending a copy of t.is letter, together with a copy of the 'alance Sheet, to the Crow Ajonta for the Colonies. I understand that you will be taking a copy yourself back with you to the Hong Kong Government.

Yours sincerely,

S (II. Palmer).

E.W. PUREY, ESQ.

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cms

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CO 537/1374

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