CO129-445 - Public Offices - 1917 — Page 63

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CROWN AGENTS TO COLONIAL SECRETARY,

HONG KONG.

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8th March 1917.

60

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:

With reference to our telegram of the 9th February

and to your reply of the 17th February, on the subject of

the bonds of the Hong Kong Government 6% War Loan of 1916,

I have the honour to inform you that, in accordance with

the suggestion contained in your letter of the 15th December

No.3586/16, we have been in communication with the Hong

Kong and Shangai Banking Corporation, and, arising out of

that correspondence, there are several points which, we

think, can best be brought to the notice of the Colonial

Government by means of a letter rather than by telegram.

As the first epupon of the bonds is not due until the 1st

November, there is ample time to settle the matters in

doubt before proceeding to print the bonds.

2.

One of the questions to be settled is connected

with the date of redemption of the loan. As pointed out

in our telegram of the 9th February there is a discrepancy

as regards that date in the Ordinance authorising the loan

and in the Prospectus of the loan, the former giving the

1st December 1928 and the latter 1st November 1928. You

informed us in your telegram of the 17th February that the

date given in the Ordinance should be adhered to, and we

must conclude that, in arriving at this decision, the

Colonial Government has considered the question of the

legality of departing from the terms of the Prospectus, both as regards this question and as regards the alternative;

methods of repayment to which we also drew your attention

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