CO129-359 - Governor Sir Lugard - 1909 [12] — Page 425

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09

TREASURY CHAMBERS,

15650 RECO 416 KEGR 10 MAY OF

21st April 1909.

Sir,

In reply to your letter of the 7th instant, I am directed by the Lords Commissioners of His Majesty's

Treasury to inform you that They have now under considera-

tion the issue of a new Charter to the Chartered Bank of

India, Australia and China, one of the Banks possessing the

right of note-issue in Hong Kong.

No material alterations in the conditions of the

Bank's note issue are at present contemplated and it does not appear to Their Lordships that the interests of the Mercantile Bank of India, Limited, are directly concerned

in the matter.

They will, however, be prepared to give Their careful consideration to any representations which you may think proper to submit to Them in writing on the subject

of the proposed renewal of the Charter.

The question of the establishment of a Government

note issue in Hong Kong or the bestowal of note issue

privileges upon your Bank is primarily one for the con-

sideration of the Colonial Government and My Lords would

therefore be precluded from entering into direct discussion

with you on these subjects.

I am,

Sir,

The Chief Manager,

Your obedient servant,

The Mercantile Bank of India Ltd., 40 Threadneedle Street,

(Sa) G.H.MURRAY.

E.C.