CO129-425 - Governor Sir May - 1915 [10-12] — Page 712

A

isho

interest in thong (7% in nomal) it is fairly antain that the Eu! is paying 6%. If therefore it won

new posibl

to borrow money from the Tuasury say

Tuasang

à 200,000 the paid back in Sannual- mitalmenti Leguiming

1917.

ct. probably get the money cheaper than

the Sal is paying.

At the same time I think it with be

heusay

to

(^) cut down the expenditime

out con

(b) & meriere lokation, aughow tumpeanly

i think it must be left of the for to devise

4(b) ut he site toch

s bit

"Ich sanchoring estimate, subject to

itel

sulation

1(a).

(a); say that he shed sundearner

to raise further

vertueu

5 additional

taxation & the t we propose to ask the Thesmy to lend as two on to pay off the bank midsaft.

Confum & darf nnctioning areax pointing out that the finances of It Kong have got into rather

K

tangle.

with bty as to a temporary

Busest.

703

ban.

if pos-

I should like to avoid going to the Treas.

sible. Might we not tel. to the Gov. asking whether

he could raise 2 million dollars locally by the

issue of 5 year Bonds, if so on what terms, and ask

also what he is paying on the Bank overdraft.

Are

23.12.15

I don't think

for gaming

ງ

have any

and at present.

And I or doubt as

to the practicating

Istande, beat we might put

in the in

only be

desp. If he does it, however, it can alte as a pis alles, as it fixes them with the interest

& negatives the hope of riding

for 5 year the deficit overdraft.

Srut 245 fun

tom 24/12/15

I ord bangs empaleme

upholstery

enemerist

Be

Phone

te of 22

Jee.

Coplite.

Form

F

the cafor

rastering

restoring

claphodus s'gray

Additional taxation

ترمة

"jellmonger

Plakeless

seething should subund

undations for

tions for restorin