Jpner, Mr. Blunt (Canton).
22nd Cotober, 1938.
D.
6.0 p.m.
6th November, 1938.
R.
6.00 p.m.
6th November, 1958.
No. 100.
NO DISTRIBUTION.
77
Addressed to Embassy Shanghai 223 October 22nd.
My telegram No. 196.
Chinese Managing Director before evacuation yesterday caused letters to be handed to local agent of Jardine Matheson and Company authorising formation of an emergency committee which met for the first time this morning.
2. Control of available funds and administration of railway
is now vested in this committee. All railway deposits under various accounts with the Hongkong and Shanghai Bank with the
exception of special reserve account have been transferred to new
emergency account to be operated by committee. Special reserve
account has been transferred to loan service committee account which Jardine Matheson and Company's agent and chief accountant of railway have been authorised to operate. The managing director's
letters stipulate that an emergency account is to be used to pay salaries of the railway staff and for maintenance and rehabitation of the railway while the loan service committee's account is to be used to provide for the funds for the annual loan agreement
amortization interest etc.
3. New emergency account consists of longkong dollars 217,094 and cents 97 and Chinese national dollar's 296,748 cents 40 in addition to the British section owe approximately Hongkong dollars 100.000 to this account. Loan service committee account Hongkong dollars 69,804 and cents 95.
Repeated to Foreign Office 100, Governor of Hongkong 135.
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