CO129-435 - Governor Sir May & Acting Governor Claud Severn - 1916 [9-11] — Page 5

I

DESP.

DATE

NO.

SUBJECT

You. Sir

F.H. May hel

1916

5th Sept.

Last previous Paper.

Họng trong

HONG KONG

42531

Local loan

REC

3

42531

REG 6 SEP

T0993. submits proposal for flotation of

Copy to Treasury. Conson. Conf. 8th Sept. 1916/ Auod tel... 121 Sept 1916.

(V. Tread

/43381).

Mr. Grindle

This is the 3 million dollars which they

propose to give to the Home Govt. I think it a pity

that they should only issue so small a loan -

should take the opportunity of raising all they can,

and investing the balance in Home Loans.

they

I would reply as in draft herewith, first sending

paraphrase to Treas. and obtaining their concurrence,

letter to be marked Immediate.

I have discussed this with Sir Charles Addis, Mana-

get of the H.K. and S. Bank in London, who is Chairman

of the Treas. Committee, and he concurs generally, but

Next subsequent Paper.

Treas

Bott

43331

thinks we shall have to pay 6 per cent, and would prefer

a definite loan of 10 millions.

(90092) Wt. 35800-6. 46,000. 12/16. BM & S.

Are

5.16

abond.9.16

t

y