CO129-533-13 Salaries- conversion rate of sterling 30-1-1931 - 21-1-1932 — Page 73

Ansd

NO.

CONFIDENTIAL.

My Lord,

{

GOVERNMENT HOUSE,

HONG KONG, 2nd June, 1931.

ECEIVE

14

8.

I have the honour to acknowledge the receipt

of Your Lordship's confidential despatch of the 21st

of April, 1931, on the subject of the conversion rate

of sterling salaries and to inform you that the

petitioners have been notified in the sense of its

second paragraph.

2. I acknowledge also the receipt of Your

Lordship's subsequent telegram of the 19th of May

requesting information as to the reductions in the

sterling salaries paid by banks and commercial firms

in the Colony, and confirm my telegraphic reply of

the 30th of May which reads as follows:-

10

8. "Confidential No. 104. Your telegram No.64

of 19th May Salaries. Enquiries made among

Banks and commercial firms give following results,

details of which have been furnished in strict

confidence and should not be published.

Banks: Hong Kong, Chartered and Mercantile

no reduction. National City Bank no reduction

in salaries but High Cost of Living Allowance

reduced

THE RIGHT HONOURABLE

LORD PASSFIELD,

&C.,

&c.

&c.,

70