CO129-158 - Sir Kennedy - 1872 [6-8] — Page 156

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed

into the Oriental Bank.

This was reported to Your Lordship in Sir Richard Macdonnell's Dispatch No. 783 of the 11th September 1869, but I do not find that the exact agreement with the Bank was explained, although it was mentioned that the Bank was to allow interest on the current account at the rate of 2 per centum per annum.

Inclosure No. 1. 21 August 1869.

I now inclose copy of the Letter of the Manager of the Oriental Bank which details the terms on which that Bank took charge of the Government account, and Your Lordship will observe that it was agreed that the balance to the credit of the Colony should never be less than £35,000.

This Condition has occasionally proved very inconvenient, as for instance when claims of an extensive nature were made on the Treasury, it was found necessary to call in some of the deposits fixed at a far higher rate of interest than that allowed by the Oriental Bank, although this would not have been necessary, had the Government been enabled to make use of the whole of their current account. Besides, Your Lordship will not fail to observe that practically

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into the Oriental Bank. This was reported to Your Lordship in Sir Richard Macdonnell's Dispatch No. 783 of the 11th September 1869, but I do not find that the exact agreement with the Bank was explained, although it was mentioned that the Bank was to allow interest on the current account at the rate of 2 per centum per annum. Inclosure No. 1. 21 August 1869. I now inclose copy of the Letter of the Manager of the Oriental Bank which details the terms on which that Bank took charge of the Government account, and Your Lordship will observe that it was agreed that the balance to the credit of the Colony should never be less than £35,000. This Condition has occasionally proved very inconvenient, as for instance when claims of an extensive nature were made on the Treasury, it was found necessary to call in some of the deposits fixed at a far higher rate of interest than that allowed by the Oriental Bank, although this would not have been necessary, had the Government been enabled to make use of the whole of their current account. Besides, Your Lordship will not fail to observe that practically

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کرده ܂ 2 into the Oriental Dank. n This was reported to Your Lordship: Prececepor in Sir Richard Macdonnells Dispatch se 783 of the 1153. 1st September 1869, but I do not find that the exact agreement with the Bank was explained, although it was mentioned that the Bank was to allow interest on the current account at the rate of 2 for centum for 3 aunum, Inclosure No 1. 21 August 1869. I now inclosca copy of the Letter of the Manager of the Oriental Bank which details the terms on which that Bank look charge of the Government account, and Your Lordship will observe that it €7291.13.14.. was agreed 146 that the balance to the credit of the Colony should never be £7291. 13.4 less than $35,000.- 4. This Condition has recasionally proved very inconvenient,_ as for instance when claims of. nature were made on it was an extensive the Treasury, found necesary to call in some of the deposits fixed at a far higher rate of interest than that allowed by the Griental Bank- although this would not have been Love, had the Government been enabled to make use of the whole of their enment account. Berides, tos, Your Lordship will not fail to observe that practically than

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کرده

into the Oriental Dank.

This

was reported to Your Lordship: Prececepor in Sir Richard Macdonnells Dispatch se 783 of the 1153. 1st September 1869, but I do not find that the exact agreement with the Bank was explained, although it was mentioned that the Bank was to allow interest

the current account at the rate of 2 for centum for

aunum,

Inclosure No 1. 21 August 1869.

I now inclosca copy of the Letter of the Manager of the Oriental Bank which details the terms on which that Bank look charge of the Government account, and Your Lordship will observe that it

€7291.13.14..

was agreed

146

that the balance to the

credit of the Colony should never be

£7291. 13.4 less than $35,000.-

This Condition has

recasionally

proved very inconvenient,_ as for instance when claims of.

nature were made on

it was

an extensive

the Treasury,

found necesary to call in some of the deposits fixed at a far higher rate of interest than that allowed by the Griental Bank- although this would not have been Love, had the Government been enabled to make use of the whole of their enment account. Berides, tos, Your Lordship will not fail to observe that practically

CO129-158 - Sir Kennedy - 1872 [6-8] — Page 156

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