CO129-404 - Acting Governor Claud Severn - 1913 [10-12] — Page 336

331:

1

ted to, though, as securities earn interest

and coin does not, I regard it as a somewhat

disquieting feature, possibly connected with

the opium crisis and the rotten state of the

currency at Canton.

j

yor.

And we must rely

GOV.)

But we must insist in future on the Gov.

telling us in his returns such as 2946 how

much of the coins deposited are against ordi-

nary and how much against excess note issue

since otherwise we do not know what the auth-

ized excess issue is

? tell C.A. to release securities as

instructed by the Govt. of H.K., tell Gov.

as above with reg

regard

rd to his returns, and send

valuation to Treas., explaining.

ACC

4/3

4.3.13

-

to use that the mots

Hoose

Jean)

fully required by

kit for we

law.

by

check the fact the ordinary inas (with the secmitin

hens

C.A.)

Covers)

474 c.

ALL COMMUNICATIONS.

(ind)

TO BE ADDREBBED TO THE

CROWN AGENTS FÒA THE COLONIES, FOR

THE ABOVE REFERENCE AND THE

REFERENCE

DATE OF THIS LETTER BEING QUOTED.

TELEGRAMS, CROWN, LONDON."

TELEPHORE 1832 VICTORIA

RECO

CO

7405

Rrge 3 MAR 13

WHITEHALL CARDENS,

LONDON, S. W.

La 5037

5007/2

sir,

3rd March 1913

With reference to our letter of 17th

February 1912 and subsequent correspondence, I have

the honour to enclose, for the information of the

Secretary of State, the annual valuations of the

securities held against the note issues of the Hong

Kong and Shanghai Banking Corporation and the

Chartered Bank of India, Australia and China,

respectively, as on the 2nd January last.

security!

2. The valuations show, in the case of the

Chartered Bank, an excess of actual security over required

£9,758.12,7. but, as regards the Hong Kong & Shanghai

Banking Corporation, a deficiency of £512,598.17.10.

3. The following securities held against the

note issue of the latter bank have been released

during the year:-

2727,600

£10,000

£114,000 £100,000

2% Consols Certificates Transvaal 3% Guaranteed Stock

Certificates.

3% Exchequer Bonds India 24%% Stock Certificates

and during the same period #270,000 26 Consol Certifi-

cates and £44,500 Canadian Northern Untario Railway

he Under Secretary of State,

"

&c

&C

&c,

Colonial Office

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