CO129-546-1 Loans for public works 6-1-1934 - 14-8-1934 — Page 29

2.

29

Kong Government and crossed either 'Hong Kong and

Shanghai Banking Corporation' or 'Chartered Bank

of India, etc.' as the case may be".

4.

I therefore asked the Government if I

could be informed what arrangements had been made

with the Banks. I enclose a copy of my letter (A).

My letter was referred to the Treasurer

who minuted as follows :

"Hon. C.S.

"

The sum of $13,860,000 being $14,000,000

"@ 99% was credited in my Cash Book and Bank

"Pass Book on 14th July, 1934".

This minute was sent to me by the Colonial

Secretary "To See", this being the first occasion on

which the file was referred to this Department.

5. I then addressed a further minute to the

Colonial Secretary and enclose a copy (B).

This also was referred to the Treasurer

who minuted :

"I am satisfied.

"by 25% Cash".

Applications were accompanied

The Treasurer's minute was passed to the

Colonial Secretary with the covering note "Let this

rest as the Colonial Treasurer is satisfied", and

to this the Colonial Secretary assented.

6. Thus though the applications far exceeded

the amount of the issue no account has been submitted

for audit of the money received with these applications.

I am still ignorant of what arrangements were made

with the Banks and my question whether any onus

lies