CO129-472 - Others - 1921 — Page 135

cabstitute for tangible security with the growth of the bank's business the requirement of full security is held to be even more infortant now than in 1907

similar fufusal

when a

is

refured.

of a Col.

Moreover, even in the care

Got note save

the fresent fractice requires

that the whole off the sauce did be covered

by wi

nivestments

amrud 10

yo funt in

it does with pum

in the direction

of allowing.

to a bank what was not be allowed to a

4to is thisfor considnes that

Col Out. Therefore any ordurary note wone

in excess of the first $10,000, vos did be

present

Fully

covered as in the case

イ

the

RAFT.

5,000,000

+ Amary

note come in exceso

of the hist

$10,000,000.

To regards the frofeoul that local

in Ching

Morris fold be taken wito account in

total)

rohowing the murity held, there is no obgin in foinciple to a forfention of the security being held at places other than Along where notes are

waved From the

practical fount of view it and be posible to secure that "changes in the holdings are notified fempty of thing, thing ohd michude the China figures in their retums,

But

MINUTE.

Grindle.

BH. Lambert,

7. Read

G. Fiddes.

Amery.

-Churchill,

But the

question of the safety

of such deforts is

serious the Treas.

undre

Dyre

inchmied to take the new that

only

MAENKO

access be

Baughai

held at certain

founts such as

p Trentoni shabe

allowed to rank.

The For. of the is being unsel She

the fosition is being by

blamejsent t দন, re

# to the

refering the forth question of the safety of deforcts in Cherie, and as to whether

AM Consenter Offices

deposité, & writ

About the s

can undertalle the denty of supercising due

Jus cancersty

day changes in the

deports wander their

couts.

(Signed) G. GRINDLE