The Agents
Ar. Collins
Mr. Fiddes
1804/H.Kong, Straits
Gentlemen,
21 Jan. 1907.
2280 D.
I am directed by the Earl of Elgin to acknowledge the receipt of your letter No. 1804 and A. of the 14th inst., regarding the annual valuation of Securities held against the note issues of the H.K. and Shanghai and Chartered Banks.
Lord Elgin considers that the proper course is to require securities from the Banks to cover one third of their total issues at the rate of the British or Mexican dollar, (actually or potentially) plus one third of the value of their notes circulating in the Malay Peninsula. The amount of the latter notes should be taken as $750,000 in the case of the H.K. and Shanghai Bank, and at $2,250,000 in the case of the Chartered Bank.
I am to ask that the annual return may be drawn up on this basis.
I am, &c.
(Signed) C. P. LUCAS.
7
The .Agents
Ar. Collins
Mr. Fiddes
1 804/H.hong, Straits
Gentlemen,
Jan. 1907.
2280
D.
21
I am directed by the Earl of Elgin to
Copy of
1804 and
ack. the receipt of your letter No. A. rong
Long and Straits of the 1412 inst., Tegardin the annual valuation of Securities neiu against
tú
this to Treas.,
L.F.
Hit me to
Ausd 3129
fel
Copy Treas
the note issues of ine H.a. and Shanghai and
Chartered Banks.
Lord Elgin considers tual tao proper
course is to require secrilies from the
Banks to ouver one third of their total issues
at the rate of the British or Mexican collar,
(actually of potentially plus one third of the r Value of 10 tes
circulating in the Malay Peninsula. The amount
of the latter notes should be taken luis your
$
at kes, ku0,000 in the case of the H... an .
Dank, and ať ́ 2,2bú,000 in the case of the Onar-
tered Bann.
I am tu ash that the annual return may bo
arawn up on this basis.
I all uC.
(Signed) C. P. LUCAS.
eas
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