CO129-555-14 Sterling Conversion rate for December salaries 21-11-1935 - 19-12-1935 — Page 5

5

from a 1/8 rate.

We must now await the O.A. G. 's

reply to our telegram, but in the meantime

.X.

Registered separately

file

of a new

53707/35 H Kong (Jalan Levy)

we had better circulate a noté as in draft

herewith to warm the various Departments of

the imminence of a salary levy in Hong Kong.

4 O.AG. Lel 324 Conf

Serkant

9.17

10/12/35

Ref (3) States saving realting from 1/8/& conversion accussay

листат

The BAG. Considus the saving on

the

Sum

which w' reult from

the payment of sterling salanes

ob 15/8:

= $1

aj a

necessary saving.

The revised Est? m

Est? In 1935

anticipated a

deficit

in the year's

accounts

of $ 152,966.

The Colony's financial position showed at the beginning of the

Jean 1935-

an excess of assets