CO129-241 - Governor Des Voeus - 1889 [1-7] — Page 624

10

Enclosure 2

Enclosure 1.

Report of the Bank dated Exploring Hong Kong Hunghar Pragting

31st of December last, which shows that the Bank holds £250,000 in Console and Indian Government Sterling Loan, lodged in the Bank of England London Reserve, and

as

a

Special

Rs. 5,000,000 Indian 4 per cent Government Loan.

Molliamda vous

31st Dee! 1888

To

C. O.

621

& & pon Hong Kong 8 June, 1889. the Moonble of a Stewart 4.4.A. Colonial Segretary Hoang Hong

De

29

Ove

beg

L.

14430

REC:

REGT 20 JUL 89/

to acknowledge your to 82y of "" ultimo interating that the Secretary Toscaner that he is prepared to concede the Stals had informed His Excellency the privelege of establishing Agencies in Foreign "Countries desired by the Directors of this

Corporation on condition that the Bank Secures its nous by the deposit in the hands of Trustees of securities pecially appropriated

cover the amount of its note issue

I would respectfully point out to His Excellency the Governor that white the Directors are anxious to meet in every way. the Secretary of States stipulation they cannot but think that it is very onerous.

The note circulation of the Bank varies between 5 and 6 millions of dollars being

distributed over the Branches and

!