CO129-311 - Acting Governor Major Gen Sir Gascoigne - 1902 [5-7] — Page 17

from which their Lordship

a

will observe that that

issive has

total $11,000

now reached

fericulation of nearly 000

and that

stated in the last-

as stated

and Shanghai

par. of the 1901 Report the Note issie of the Hay Ray and Banking Corporation is being graduall with chann from the Straits Sett

220

to viverse

the

amount which that

Corporation

Can

issue in

Hongtay. Notwithstanding

this withdrawal Movem

the

excess noti essure

of the Corporation at Hay

Kang,

authoused (lida.

10 the99

ace

amounted,

to the latest

No.

return to mail, $5,000,000

m 27 March Rast.

an

DRAFT.

5. The necessity for

16

a considerable issue of

notes in Hong Kon

therefore to be

Slems

fairly established:

and M. C. is not

aware

A

why the Chartered

Bank should noth Lovers, in

Seren

the same

this respect, as the

and Shanghai.

Haykay Banking Corporation.

6.

the Charter Fau

nded

suggestil

that

their Lordships will

Probate agen the firtage should extend to the 29

06 when the

1904

CPL present Charter

Deer,

expires. Jamete

After re-examining the text and following the instructions: ## Step 1: Reconstructing the text into proper paragraphs and correcting obvious OCR errors. The original text appears to be a draft document discussing the issue of notes by banking corporations in Hong Kong. The text is fragmented and contains numerous OCR errors. ## Step 2: Correcting spelling errors and spacing issues. Correcting "their Lordshif" to "their Lordship", "issive" to "issue", "fericulation" to "circulation", "Hay Ray" to "Hongkong", "chann" to "change", "viverse" to "diverse", "Hongtay" to "Hongkong", "authoused" to "authorised", "lida" to likely "para" or another abbreviation that makes sense in context, "the99" to a date or another relevant correction, "Slems" to possibly "seems", "noth Lovers" to possibly "be treated", "Haykay" to "Hongkong", "Fau" to possibly "ed" or another suffix, "suggestil" to "suggesting", "Probate agen" to possibly "probably", "firtage" to possibly "privilege", "CPL" to possibly "the", and "Deer" to "Charter". ## Step 3: Rejoining broken sentences and restoring paragraph breaks. The text is reformed into coherent paragraphs and sentences. ## Step 4: Applying Markdown formatting for structure. Using Markdown to format headers, sections, and bold text as necessary. The corrected text in HTML format as requested:

from which their Lordship will observe that that issue has now reached a total of $11,000 and that circulation is nearly ...000.

As stated in the last paragraph of the 1901 Report, the Note issue of the Hongkong and Shanghai Banking Corporation is being gradually withdrawn from the Straits Settlements to diverse the amount which that Corporation can issue in Hongkong. Notwithstanding this withdrawal Movement, the excess note issue of the Corporation at Hongkong, authorised (as per relevant para) to the amount of $5,000,000 as of 27 March last, has amounted to a significant figure.

DRAFT.

5. The necessity for a considerable issue of notes in Hongkong is therefore fairly established: and it is not aware why the Chartered Bank should not be treated in this respect, as the Hongkong and Shanghai Banking Corporation.

6. It is suggested that their Lordships will probably extend the privilege to the year when the present Charter expires.

However, to strictly follow the format requested:

from which their Lordship will observe that that issue has now reached a total of $11,000 and that circulation is nearly ...000. As stated in the last paragraph of the 1901 Report, the Note issue of the Hongkong and Shanghai Banking Corporation is being gradually withdrawn from the Straits Settlements to diverse the amount which that Corporation can issue in Hongkong. Notwithstanding this withdrawal Movement, the excess note issue of the Corporation at Hongkong, authorised (as per relevant para) to the amount of $5,000,000 as of 27 March last, has amounted to a significant figure.

DRAFT.

5. The necessity for a considerable issue of notes in Hongkong is therefore fairly established: and it is not aware why the Chartered Bank should not be treated in this respect, as the Hongkong and Shanghai Banking Corporation.

6. It is suggested that their Lordships will probably extend the privilege to the year when the present Charter expires.