CO129-445 - Public Offices - 1917 — Page 65

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be difficult for him to claim the principal and accrued interest of his bond so promptly as to avoid a certain

loss of interest on the amount so claimed. In the case

of loans domiciled with us, the Ordinance governing the

arrangements for holding drawings provides for ample

to be given

-

notice -1.e. not less than fifteen days

of the date on which the drawing is to be held, and,

although not laid down in the Ordinance, it is customary

to allow a similar period to intervene between the date

of the drawing and that on which the bonds are repayable

which latter date invariably coincides with a dividend

date. The Colonial Government may have satisfied them-

selves that the method of repaying drawn bonds laid down

in the War Loan Ordinance is not open to objection, but,

in case,

on reconsideration of the matter, it should be

decided to follow our practice, it may be useful if atten-

tion is drawn to the clauses in the draft model General

Loan and inscribed Stock Ordinance Nos.16,17,18,19,20, and

21, a copy of which was forwarded to the Colonial

Government in the Secretary of State's circular Despatch

of the 3rd May 1913, which dealt with the conduct of

drawings generally. For convenience of reference, a copy

of this draft Ordinance is enclosed.

4.

I enclose also a draft of the bond drawn up on

the lines laid down by the War Loan Ordinance and the

Prospectus as modified by the instructions subsequently

given to us by the Colonial Government, Subject to any

further alteration which may be decided upon, we propose

to print the bonde in this form, and we will arrange that

they shall be prepared so as to afford as much protection

against forgery as possible.

5.

I have to request that we may receive the

instructions of the Colonial Government in the matter.

($gd) R.L.Antrobus,