CO129-429 - Public Offices & Others - 1915 — Page 241

by securities deposited with the C.A. This

step would at once enable the Banks to meet de-.

mands for additional notes by depositing securities.

Mr. Bonar Law does not consider that this conces- sion need be espacostar limited in time, but the

situation would of course be carefully watched

especially in connexion with the yearly return

of securities rendered by the C.A., of which copies are transmitted to the Treasury.

If T.Ls. concur, the S. of S. proposes to

by tel.

authorize the Cov. /to pass an Ord. to carry

^

bariz

At the proposed measure in respect of each of the Banks

A

now entitled to issue notes, unless T.Ls. would

prefer in the case of the Chartered Bank that the

change should be effected by amendment of their

Charter.

I am &c.

for det

HONG KONG

35380

REC

239

35380

REG 2 AUG 15

Treasury hote Issue of Chartered Bank

1915

31July

Last previous Paper.

ca

$4241

To Clyts 3 Augt:

Next subsequent Paper

ca.

Approves exchange of £25,000 31⁄2% War hoan for £25,000 City of London 31⁄22% Bonds

CA.

15

Gentlemen 523 My to che/1/s. Inmply they litter A/4748) When ing dal lam & brich you that iftic consulting the LoC When Trasury he appross

=AUG.

3324 (Bined H. PAN.

C)

100, 12/15. A.&E.W.

13/14.

17 showing £25000 War Lown 32% pully paid word in exchang for 725000 Caly/2min 32% Bond payable in 1918, uspect of the semmity which you hold for the notes croire In Chartues Band 1, 1.AVC.