CO129-284 - Acting Governor Major Gen Black - 1898 [7-8] — Page 26

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letter of 21st. instant Securities and Silver Dollars equal to one third of the maximum amount of Eight million dollars have

been deposited with the Home Authorities and the Colonial Governments. The limit in this Colony viz.-$2,750,000 - fixed with the Home Government at the suggestion of our Head Office for the convenience of the Bank was exceeded by $86,976 during last month but the actual aggregate amount issued by all the Branches of the Bank during that month was well with- in the maximum issue of $8,000,000 and particulars will be furnished so soon as they come to hand.

As a result of our telegraphic communication

with London our Head Office wired to us on 23rd. inst, that as

a temporary measure we were authorised to increase our issue by the sum of $250,000 and to deposit the requisite amount of Cash with the Government as a reserve against the increased issue. This we are prepared to do to-morrow or as soon as it may suit the convenience of the Government's Representatives. The following securities have already been deposited under

Government control.-

British Dollars..

Japanese Govt. Bonds face value Yen 250,000 or Metropolitan Bonds in London £15,000 at 1/11

Our increased limit viz.-$3,000,000 - would

require a deposit of one third or.

leaving to be deposited with the Government

$546,167 -

$252,000 -

155,675

$953,842

$1,000,000 -

$46,158

This