of $10,321.96 which allowing that a portion of the profit results from a conversion of nearly $6000 of Hongkong and Shanghai Bank silver is equal to rather more than 10% an allowance for loss, Alloy etc. may probably be considered about correct.
Of Course this is not actual profit to the Government because in order to obtain the bullion for Conversion it has been necessary to borrow money at 8% per annum but the actual loss by interest cannot be calculated until it is seen how long the subsidiary Coinage remains on hand.
Hongkong 10th December 1866.
(Signed) W. H. Rennie Auditor General
(Struck off) Wodum Siv
The Mint Hong Kong 13th December 1866.
Referring to your observations of this evening respecting the producing power of the Coining Presses I may observe that new Machinery frequently becomes heated in the bearing parts. This particularly applies to Coining Presses where the bearings are of hardened Steel and until these bearings become perfectly polished by wear, the Machines frequently cannot work without injury for a limited time, particularly when such an extraordinary pressure has to be exerted as has been the case.
His Excellency Mr. H. R. G. M'Donnell C.B. Governor etc.
Colonial Secretary.
of $10,321. 96 which allowing that a portion of the profit results from a conversion of nearly $6000 of Hongkong and Shanghai Bauk
silver is equal to rather more than 10% an allowance for boals, Alloy He.
may probably be considered about
lefo
which
10p
Of Course this is not actual profit to the Government because in order to obtain the bullion for Conversion it has been necessary to borrow
money
at 8% per annum but the actual loss by interest
cannot be calculated until it is seen
how long the pubsidiary Coinage
remains on hand.
Hongkong
10° Décumber 1866.
(Signed) W. H. Rennie
Auditor General
(Strue loopy) Wodum
Siv
The Mint Hong Thong
13th December 1864.
Referring to
your
observations of this
290
evening respecting the producing power of the
Presses I may observe
Coining
post That new
Machinery frequently becomes
heated in the hearing parts
This
Drone
particularly applies to Cvining Presses where the hearings
our
of hardened Steel and
until these bearings become perfectly polished
by
Avears,
the Machines frequently
Care
-only
work without injury for a limited time
particularly when suchs
an trucyRICACI
pressure has to be exerted as
His Excellency
Mr.
His R. G M Donnell C. B.
Governor Ve
experience -
...
botonial Secretary.
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