CO129-504-12 Loan to cover work on Shing Mun Valley Scheme etc.- draft ordinance 28-4-1927 - 4-12-1927 — Page 14

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AUG 927

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118 JUL 1927

COL. OFFICE

Telegram from the Governor of Hong Kong

to the Secretary of State for the Colonies.

Dated 18th July, 1927.

(Received, Colonial Office, 12.39 p.m.,

18th July, 1927. )

Confidential.

Your telegram of

8th July. Loan. Only $900,000 War Loan

remains to be repaid on 1st November.

I

propose to take in September powers by

Ordinance for a loan of $5,000,000 at 6%

and to invite tenders due 1st November next

for $3,000,000 of bonds out of this total

as at present advised bonds would be $1,000

$5,000 $10,000 bonds to be redeemable after

1932 and all to be redeemed by 1st November

1938. I do not propose to give the bonds

the privilege of Section 12 of 1916 Ordinance.

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