CO129-543-12 Loans for public work 29-3-1933 - 20-12-1933 — Page 95

RECEIV O

31 JUL 1933

(.0. REGY

CONFIDENTIAL.

Sir,

HONG KONG,

4

GOVERNMENT HOUSE.

29th June, 1933.

93

92639/32. (9)

Copy

9の

Ak Ezechiel C.A.

3.

92622/32.

(20)

With reference to paragraph 5 of your

confidential despatch of the 16th June, 1932, on the

subject of the redemption of the Public Works Loan, 1927,

I have the honour to invite attention to my open

despatch No. 368 of the 28th June, 1933, in which I

have forwarded for the signification of His Majesty's

pleasure a Bill intituled "An Ordinance to make

provision for the redemption of the bonds issued under

the authority of the Public Works Loan urdinance, 1927".

it will be observed that section 13 of the

2.

new Ordinance, exempts from payment of defence

contribution moneys appropriated for payment of interest

and for the formation of a sinking fund. This exemption

falls within the terms of the Agreement witn tue War

Office transmittea with your Confidential despaten of

the 7th March, 1933, the amount required for the

redemption of the Public Works Loan, 1927, being included in the figure of $28,000,000 referred to in the

War Office letter of 25th February, 1933.

3.

It was considered desirable to convert this

loan as early as possible in order to obtain a

reauction in the rate of interest.

The question of

obtaining

THE RIGHT HONOURABLE

SIR P. CUNLIFFE-LISTER, G.B.E., M.C., M.P.

etc. ¿

50.

etc.