1 in 9261/1905.
158
REC
3798
REG 25 JAN 15
Colonial Secretary's Office,
Hongkong,
8th December, 1914.
Gentlemen,
I an directed to acknowledge the receipt of
your telegram of the 19th November, and to confirm my telegraphic reply of the 26th, which decoded was as follows+
"Your telegram of 18th November amounts received "principal and interest of Tuchang loan have been
"credited to account of Government of Hongkong here "in order to reduce overdraft Hongkong and Shanghai "Bank due to payments for subsidiary coin purchased
Portion of principal 'and withdrawn from circulation.
"due from Kwangtung Province still unpaid letter
"follows to explain".
2.
It is necessary to explain that, owing to
financial difficulties and the stringency of the money
market caused by the present hostilities, the directors of the Kwong Tung section of the Canton-Hankow Railway Co.
the Colonial Government were unable to raise funds to repay
Thia
the instalment of the Railway Redemption Loan amounting to £49,264: 5: 9 which fell dụe on the 6th October, Government after some negotiation consented to accept immediate payment of half the instalment of principal duo amounting to £28,571:8:7 together with the 18th instalment
Te Crown Agents for the Colonies,
London.
is
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