CO129-415 - Governor Sir May - 1914 [12] — Page 173

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İgeoss of betaen uns anitaitogea ende zedia Infintevoð

Dub İKTİONing lo tasalateni við Ved to treZYJ * etiberri

Jnerijkjent d‡8£ o't d‡iw nedjegod 5:8: (57,894 od jakému `AB

of interest £3,121: 8: 7, as well as the further interest

at 41 which accrued since the 6th October, viz: £139; 7: 5,

and to grant an extension of time until the 31st December

for the repayment of the remaining moiety of the Kwong Tung

portion of the principal £25,571:8:7 together with in

terest at 4 for the period of extension.

3.

In accordance with this arrangement, a paymen paymen

of £26,882: 4: 7 was made to the Government on the 21st

November, the gun representing the moiety of the principal due, the whole of the instalment of interest, and 2139:7:5 representing the interest which accrued during the period

6th October to 18th November. The Hankow portion of prin-

cipal and interest amounting to 265,685: 10: D was duly

paid on 7th October last.

4.

The two sums £65,685: 10: 0 and £25,882:4:7

ere credited to the Hongkong were not remitted to you but Government local account which was then overdrawn to the extent of over $1,000,000, due to the withdrawal from cir- culation of all subsidiary coin paid in by Government De- partments as revenue. The large increase in aubsidiary coin received as revenue ia due to the taking over of the The purchase Opium Honopoly by Government in March 1914.

of 10-cent pieces in the market by Government has also largely contributed to the overdraft.

5.

I sent you a telegram today as follows:- "Propose draw on you for 250,000 this month to meet "overdraft at the Hongkong & Shanghai Bank on account "of subsidiary coin". This sum is required to reduce

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