CO129-448 - Governor Sir May - 1918 [4-6] — Page 237

I think the Actual statutory reserve need only be $14,333,333 (1.e. one third of the first $10,000,000 and full security for the remainder) which would make

The return enclosed the surplus balance even larger.

in your letter of July 30th (34007) also appears unless my calculations are wrong to give a surplus balance. Perhaps you will look into it and let me know whether you

are satisfied.

I should be much obliged if you could let me have an up to date set of the Ordinances regulating the Hong Kong and Shanghai Bank, Sir C.Addis in writing to us appears to me to state the obligation on the Bank inaccurately and to its disadvantage!) but I cannot identi the document he is quoting, which he calls the "Charter".

Yours,

TZ.V. Vermon

No

C

134

sir,

C.a. 12290

12.473.

G.E.A.Grindle Esq.C.M.G.

¡RECO

C

34007

REE? 11 JUL 18

GOVERNMENT HOUSE,

HONGKONG. 13th. May, 1918.

236

With reference to paragraph 2 of Mr. Bonar Law's Despatch No. 85 of the 31st. March, 1916, I have the honour to transmit the enclosed statements of securities against the note issues of the Hongkong and Shanghai Banking Corporation,, the Chartered Bank of India, Australia and China, and the Mercantile Bank of India, Limited.

I have the honour to be,

Sir,

Your most obedient,

humble servant,

Bor

Governor,&c..

THE RIGHT HONOURABLE

WALTER LONG, M.P.,

&c.,

&C..

&c...

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