CO129-303 - Public Offices & Others - 1900 — Page 145

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Tthink this in

ishole range of

quiete

reasonable; the

Col. Grot, curities (sweept

In the reply to this Letter the followi

über should be quoted.

will dirith

20080

1900

pechaps Huse of Unfoundland) in be on the Tunster list — Proved as perpused

Twto

10/12.

I suppose they understand that

Loan

b

The Bere the Jacf. S. & not funk

I, The S. of S. for. I. infamech I don't think it makes

much differance, the I think it very likely the Sof Is Guarantie will become

peopored perative.

arome

713/14

CA

Sir,

4.06.7

TREASURY CHAMBERS, 2

12 December 1900

<

In reply to Mr Lucas's letter of the 7th instant (39483/1900) I am directed by the Lords Commissioners of Her Majesty's Treasury to state, for the information of Mr Secretary Chamberlain, that They see no objection to permit- -ting the Hong Kong and Shanghai Bank to make the proposed substitution (1) of £75,000 21 % Greek Guaranteed Loan for £68,000 Consols and (2) of Rs 9,75,000 4% Bombay Improvement Trust Loan of 1899 for Rs 10,00,000 34 % Rupee Paper, in the securities held by the Crown Agents for the Colonies against the Bank's Note Issue .

My Lords understand the Bombay Improvement Loan to

be guaranteed by the Government of India.

As regards the general question of changes in the securities held by the Crown Agents against the issue of this Bank and that of the Chartered Bank of India, Australia and China, My Lords will be content to allow any of the securities held to be replaced without special reference to this Board (1) by stocks in which Trustees are authorized by Parliament to invest or (2) by Bonds to Bearer issued by any Government or Corporation whose stock is a Trustee security or (3) by Rupee securities of the Government of India; subject to the proviso that the

Under Secretary of State

Colonial Office

2

securities