Capy is E
Tel.
8th July. 27.
6 AUG 1927
(3)
30133
7
16
Telegram from the Governor of Hong Kong to the
Secretary of State for the Colonies.
Dated 21st June.
(Received Colonial Office 7.30 a.m. 21st June, 1927)
Your telegram of 1st June concerning loan with
the advice of the Executive Council suggest local
issue of a loan of $5,000,000 at 6% under conditions
similar to War Loan Ordinance of 1916. $3,000,000
War Loan will be repaid this year and a good deal of
this money would probably be re-invested in the new
loan. There is a demand for local loan for trustee
security. Estimated that $3,000,000 will be required
this year which can be obtained at par and remainder
next year.
Local loan avoids exchange difficulty
and expenditure will be largely local. There is
possibility of further loan being required later when
sterling loan may be advisable for fund(s).
? funding
RECE VED
21 JUN 1927
COL.
FFI
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