CO129-328 - Governor Nathan - 1905 [1-6] — Page 180

30.57.

No.

Hongkong.

Rec

...

C. O.

1125

6 APR 051

Government House,

Hongkong, 2nd. March, 1905.

177

Sov

sir,

51640/08

With reference to Lord Onslow's Despatch

No. 445 of the 29th. December, 1902, in which authority was

given to increase the Government Balances with the local Banks

from $350,000 to $450,000. I have the honour to inform you

that the Treasurer reports that the regular monthly payments

during the current year will amount to $500,000.

2.

It would therefore appear that the time

has come for a further revision of the balances with the local

Banks, and I have the honour to recommend that the limit

should be now placed at $700,000 in order to allow some margin

for increase over immediate requirements and that the distri-

bution should be as follows:-

Hongkong and Shanghai Banking Corporation.

Chartered Bank of India, Australia and China...

$400,000.

$300,000.

I have the honour to be,

Sir,

Your most obedient

Humble servant,

THE RIGHT HONOURABLE

ALFRED LYTTELTON, K.C., M. P.,

&C..

80..

&C...

What

Governor, &C..

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