CO537-(1262-1649) — Page 81

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THE NATIONAL ARCHIVES

COPY

00048

HONG KONG, July 18, 1946.

The Hon. Mr. C.G.S. Follows,

Financial Secretary,

Colonial Secretariat, Hong Kong.

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Dear Mr. Follows,

We wish to call your attention to the news item appearing on page 1 of this morning's issue of the "South China Morning Post", saying that the Hongkong & Shanghai Banking Corporation is now paying all credit balances prior to the Japanese occupation, with the exception of the accounts interfered with by the Japanese. We, the undersigned banks, take a very serious view of this public statement, inasmuch as our clearing balances with the Hongkong & Shanghai Banking Corporation are not available to us, and this fact may preclude us from honoring similar balances in our books. The sum involved, as you are aware, amounts to many million Hongkong dollars. We feel strongly that our depositors are being most unduly discriminated against, and respectfully request that Government ake immediate action to alleviate our position.

Yours very truly,

The American Express Co. Inc.

The Chartered Bank of India, Australia & China.

The Chase Bank.

The National City Bank of New York.

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CO 537/1369 THE NATIONAL ARCHIVES

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