# 200,000 for the following 1 April & they might be instructed to draw monthly in advance to meet
spending further instructions to go on drawing equal monthly amounts according to estimated requirements.
As regards the special Praza Fund, it suggests that a great deal (in any case) must be required for local expenditure, it should be dealt with specially and deposited only against securities.
There seems no other way, unless we order it to England, much of it later to be remitted back, or (2) allow the continuation of the present excessive unsecured amounts entrusted to the Bank, which is unadvisable.
On the whole, I would suggest that the ordinary current account at H.K. Bank should, if possible, be kept down to £100,000 but should in no case exceed £200,000. Anything in excess should be put in the Strong Room or Chest where the Bank's securities are kept.
A second current account could be opened at another Bank ordinarily in connection with the current working expenses of the Praza Reclamation (see par. 3 of 157.94). This current account need not only have $50,000, and in the other two Banks, money could be deposited, from which the Praza Current Account could be replenished from time to time as required, but that such deposits should not exceed $75,000 and be against securities only.
I order that this be arranged without further delay and that, failing that, Agents be informed what amount they should draw so as to reduce the balances to the prescribed limit. I meanwhile instruct Agents as proposed above on 30/9/90.
& # 200,000 for the following 1 april & they might be at mee instructed to draw monthly
to meet
in advance that
#3
tpending further instructions
to go on drawing
equal monthly
to Mein
amounts according estimated requirements
?
As regards the special
Praza Fund
Auggests
as a
Sin the. Oumanne 1540 12512 that
great deal (in any case)
must be required for
local
Expenditure it should be
dealt with specially
deposited only aga
securities.
no other way,
the
maez
There seen
unless we
and be
order
to England, much of it later in to be remitted back,
or (2) allow the continue
of the present Excessiv
meckured
mounts entrusted & the Bank,
which is unadvisable.
R
On the whole, I would suggest that
? Ordinary
current
C
at H. 7.1. Bank shared if possible be kept down to £100, om but should in no case exceed
fo 10,000
1201
000
anything
that to be putt,
alpe that
In Sw. Chest where
thing keep the Bank's securities;
a second current accom
be opened at another
Bank 114 ordinanz
in connection with them
current working expenses of the Praza Reclamation (see par. 3 of 157.94). This current not only t
count need
50
and in the
other two Banks money
be in
could
deposit, from which the
Praja Current Account could be replenishe
time to time as
Jonn
required,
but that such deposits should
to jogo,
$75,000 not exceed to prop unsecured
any
amount begund that to be against securities only. Order that this be arranged without further delay and that failing that, that Agents be informed what amount they should draw soas to reduce the balances to the frozen prescribed limit I meanwhile instruct agent
proposed above
a1
Доргил
we
дид
Ou 30/9/90
have discupied this
Maning
Shan draft an
Lions
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