CO129-426 - Public Offices - 1915 — Page 161

C.O

157

As

890 Hong Kong

ALL COMMUNICATIONS

TO BE ADDRESSED TO THE

OROWN AGENTS FOR THE COLONTEB,

THE ABOVE REFERENCE AND THE

DATE OF THIG LETTER BEING QUOTED.

TELEGRAMS, "OROWN, LONDON."

TELEPHONE 7730 VICTORIA.

43810

RECE

!r 23 SEP 15

WHITEHALL CARDENS,

LONDON, S. W.

22nd September, 1915.

Sir,

Goo

In reply to your letter of the 17th instart, No 1098/1915, asking for our observations as to the best method of investing the sum of £55,000 on account of enemy businesses in Hong Kong, I have the honour to inform you that we would advise that the money should be invested in Ver Loan.

2. We would propose to take over, at the mean market price of the day, £55,000 worth of the War Loan Stock which we have acquired in order to be able to convert the holdings of Consols in our hands belonging to various Colonial Government Funds; and, when the conversion powers have been exercised, we would pay over to the Hong Kong Enemy Businesses Account whatever might be

at the time, the value of the conversion rights, which will be the difference between the quotations of the Stock "cum righte" and "ex rights".

I have the honour to be,

The Under Secretary of State

etc etc etc

Colonial Office.

Sir,

Your Obedient Servant

·

Muchies

for Crown Agents