CO129-333 - Governor Nathan - 1906 [1-4] — Page 508

}

No.

96.

ngkong.

Pe

17816

Red 19 MAY 06

Government House.

Hongkong, 20th. April, 1906.

My Lord,

Foo 642

I have the honour to acknowledge

the receipt of Your Lordship's Despatch No. 48 of the 3rd.

March last, commenting on the return showing the state of

the Treasury as regards balances, deposits, etc., on the

30th. December, 1905, and in reply to the 2nd. paragraph

thereof to state that I am advised by Mr. J. R. M. Smith,

the Chief Manager of the Hongkong and Shanghai Banking

Corporation, that there is a fair prospect of selling a

considerable amount of subsidiary coin next season which

commences about the month of July. I regret that I see at

present no probability of the existing overdraft being

otherwise materially reduced in the near future.

As regards paragraph 3 of the

2.

Despatch it is exceedingly difficult to ascertain or even

conjecture the true reasons for the cessation in the

demand, but it is believed to be at any rate partly due to

the

HE RIGHT HONOURABLE

THE EARL OF ELGIN, K.G.,

&0.

80.

800...