+ CONFIDENTIAL.
3.16.
22912
REC
REG 15 MAY 16,
GOVERNMENT HOUSE,
HONGKONG. 28th. March, 1916.
365
sir,
کو تقویم این دوره مهر
In continuation of my Confidential Despatch of
the 9th. February and with reference to the telegraphic correspond- -ence noted in the margin, I have the honour to report the present
position in the matter of this Government's overdraft with the
Hongkong and Shanghai Banking Corporation.
2.
In March, 1915, the Crow Agents were notified
that it was desired to utilize at the earliest possible date any surplus funds in their hands for the purpose of reducing the large local overdraft, and they were requested to telegraph from time to
time what amounts might be drawn.
3.
On receipt of the Crown Agents' accounts for
October it was found that they were holding a large balance, and
this Government was about to telegraph asking whether they could
draw on this balance, when on the 13th. January the Crown Agents
sent a telegram stating that no less a sum than £90,000 could be
drawn, if it was thought desirable. This sum was of course draw
immediately, and the Crown Agents were raninded by letter of the
standing instructions sent to them in March last year.
4.
In consequence of this transaction I was able to
state in the second paragraph of my Despatch under reference that
the overdraft was, early in February, less than $1,000,000. But in
spite of favourable revenue receipts the large amounts of
HE RIGHT HONOURABLE
ANDREW BONAR LAW, M.P.,
&c..
&c...
subsidiary
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