CO129-404 - Acting Governor Claud Severn - 1913 [10-12] — Page 342

note sove. In the absence

such nicht it is not

posible to me to know

what the anthonged excers

essure is, for the

in a portion

1

to satisfy myself that

what the

orining move is (with

The securities in

to hand

I then M. for the () properly

covered

て

MAR

7405/13 H.Kong

ว

The Sec., Treasury

Mr. Collins

CA. 3 March

und in

2956

労

D

-7405-

Sir,

10

March, 13.

337

With ref. to the letter from this Office of

the 27th of March, 1912, I am directed by Mr.

Sec. H. to transmit to you, to be laid before

the L.C. of the Treas., copy of a letter from

the C.A. enclosing a valuation of the securi-

ties held by them as cover for the note issues

of the H. K. and S. Banking Corporation and

of the Chartered Bank of India Australia and

China.

•

C.A. Bot.

Seen.

Rht. Mch.14

Since the date of this letter the G.A. have

been instructed to release to the former Bank

securities to the value of £200,000, and

this in effect cancels the last par. of the

letter.

The explanation ta of the apparent defi-

ciency in the case of this Bank is that a

very large amount of dollars has been deposi-

ted with the H.K. Govt. According to the latest

return, of which a copy is enclosed, this

amount was 16,000,000 dollars. There is no

objection to this alternative method of giving

security, which is allowed under the Ordinan-

ces regulating the Bank's note issue, but the

: