CO129-369 - Acting Governor May Governor Sir Lugard - 1910 [10-11] — Page 109

No. 334.

Hongkong.

C O

107

34446

Prc? REGIO NOV 10

Government House,

Hongkong, 8th. October, 1910.

Freas 19h49

IN. 12004 :08

My Lord,

ما

With reference to Your Lordship's

Despatch No. 208 of the 22nd. of last July, have the

honour to forward the enclosed draft of an Ordinance to

provide for the issue by the Mercantile Bank of India,

Limited, of Bills and Notes payable to Bearer on Demand and

to request Your Lordship's authority to introduce the

Bill into Legislative Council.

2.

The proviso to Section 3 (2) is

suggested because the Bank will probably desire to issue

$1.00 notes, as there are not sufficient $1.00 notes of

the Hongkong and Shanghai Banking Corporation in circula-

-tion in the Colony and Hongkong is being flooded with

$1.00 notes of the Ultramarino Bank of Macao, concerning

which Sir F. Lugard addressed Your Lordship in his

Confidential Despatch of 6th. March, 1908. It would be

a convenience to the public if the circulation of $1

notes

THE RIGHT HONOURABLE

THE EARL OF CREVE,

&C...

&0.1

&C. *

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