CO129-330 - Public Offices - 1905 — Page 215

1.

209

Railway it will be desirable that it should be ruised in the

form of Stock, under the provisions of the Hong Kong General Loan and Inscribed Stock Ordinance, No.1 of 1893, and that the issue when made should be in the form of 32 Inscribed Stock of which a line of £341,800 already exists and to which the new issue should be added. The present price of this Stock, of which the currency is 1918-43, is 98 to 100 per

cent.

4. I beg therefore to suggest that a telegram to the effect of this letter should be sent at onse to the Governor of Hong Kong, and that it should be pointed out to him that while it is necessary that provision should be made as soon as possible for the Loan to the Chinese Viceroy there is no need for hurry in the case of the Kowloon-

Canton Railway Loan.

5. We should be glad also if it could be intimated to the Governor that in any Ordinance providing for the raising by means of Debentures of the Loan mede to the Chinese Viceroy, it should be specified that the Debentures when issued may be signed by any one of the Crown Agents instead of, as in previous Hong Kong Debenture Ordinances,

by any two of them. The purely mechanical labour of signing

a great number of Bonds is very great, and no greater security

is afforded by two signatures than by one.

સુ.

I have the hopour to be,

Sir,

Your Ob dient Servant

-2-

2

ไฟ