CO129-515-14 Extension of powers granted to Merchantile Bank of India- Ltd.- to make- issue- re-issue and... 20-2-1929 - 18-1-1930 — Page 63

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A/476

FROM THE CHARTERED BANK OF INDIA, AUSTRALIA AND CHINA,

TO CROWN AGENTS.

38, Bishopsgate,

London, E. C. 2.

6th February 1929.

63

Gentlemen,

In reply to your letter of 15th ultimo (A/476)

the amounts of this Bank's notes in circulation on

31st December 1928, according to Returns in our

present possession were:-

Hongkong

Penang

$14,913,185

Singapore

39,720

42,420

As you are aware approved securities are

deposited by us with the Bank of England in the name of

the Crown Agents for the Colonies for the full amount

of cover required against our Notes issued at all points. On 31st December 1928, these Securities were valued at £1,508,350.

In addition the amount of coin held in

Hongkong was $5,900,000, which is kept in a separate

Treasury, the keys of which are held by the Government.

Yours fiathfully

(Sgd) R. A. RUST

p Manager.