3
377
writing
that
Water Supply. Since September last I have earnestly requested enquiries to be made regarding the feasibility of raising the necessary Loan in Hongkong,
I beg to submit for the consideration of Your Lordships the Copy of a letter which I have received from the Chief Manager of the Hongkong & Shanghai Bank on this subject.
2.
Mr. Creig makes a definite offer to take up the Loan at par for charging 2 per cent Commission - The Loan bearing 5 per cent interest, and being paid off by instalments of 1 per cent per annum, besides the interest.
3.
I am not aware of the amount of Commission usually charged by the Crown Agents under similar circumstances, but I do not suppose that it would be less than that stated in Mr. Gray's letter.
If the Loan can be raised in London at 4½ per cent as hinted at in the Crown Agents' letter of 9 July 1874, there cannot be any doubt, I apprehend, as to the advisability of placing the matter in their hands, but if on the contrary, it cannot be floated by them under 5 per cent the advantage of putting the arrangements
3
377
writing
that
Water Supply. Since Sepätch Ampatch I have earned enquiries to be made regarding the feasibility of raising the necefiary Lean in
Alongthing,
J I
an
nau)
beg to
subunit for the consideration of Your Lordships the Copy of a letter which I have received from the Chief Manager of the Wongthing
Shanghai Bank in this subjut
Mr. Creig
and
2.
maltes
the Loo
& definite offer to take up
at for charging 2 per rast Commission - The Lean beaming 5 for east internt, and being paid
h means
Fund J.
off by Pinthing
of
a 1
per
cant
Bthis
the
Burt
47 on t
RM
3.
I
am not
awrarle
of the
amount of Commmision usually
the Common Agents under
h
charged by
similar
excumstances, but I do
not suppose that it would
less than that stated in Me
Gray's letter.
If the Lean
Uk
Can
in London at 41/2 per cent
be
be raised
Ao
CA. 1. C.0. hinted at in the Crown Agenti 9 July 1874. litter there cannot be
any
darbt,
I affirebend, as to the advisability of placing the matter in their -hands, but if on the contrary, it cannot be floated by "them under 5 per cent the advantage of putting the arrangements
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