CO129-443 - Governor Sir May - 1917 [7-9] — Page 170

he total of the surplus assets, of course, being thes left unaffected.

There appears to be nothing in the case of Hongkong to suggest that the proposed procedure is unsuitable, and from the strict accounting point freist is obviously sound.

149/17

I agres hat it is adrielle for the purposes of complete record hat the komunal relue seaurity Deposited wiki hi for!" showed he thou in his accounli ana liability, a correpanding amount being recorded as an Asset. As states above, this course has been adglès wi`chen Colonies

hi accounts gwhich are audited under my driest wins.

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1.9.7

10.9.17

So far as we are concerned, there is no diffij culty. The securities deposited in our custody are brought into our accounts on both sides, and copies of the accounts are sent to Hong Kong, The difficulty in "ong Kong would be that, in the case of the Chartered Pank and the Hong Kong and Shanghai Eanking Corpn., the securities deposited are cover for the note issues in the Straits Settlements and Hong Kong jointly, no exact amount being earmarked to each Colony. The Auditor does not say how

would propose to get over this difficulty. It would seem to be a question whether, in the circumstances, the securities deposited with us should be held to be in the custody of the Hong Kong Government,

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14.9.17

Mr. Collins

160

I remain ate quichi wendet above, had,

in new ghi perial anancement affecting main and owing to the abrioms difficulty of affationing kère particular amount between the live Colmies,

I would include his seamities deported (the Chartered thank and the trkaup & thanghai tanking Corporation in respect ghi thaili Bektements and b. koup is withy?

Reply

28.9.7

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