CO129-576-4 Loans for public works 3-7-1939 - 4-1-1940 — Page 29

29

also

ta suggest that issue at so large a

discount as 93 offers great attraction

to speculators.

I request that you will now

consider the question further on basis

of necessity of local issue, and I shall

be glad to know whether you are advised

that balance of 1934 loan should now be

Pocally

raised, in tete or in part, and what should

h

whole

be terms of issue.

is, however, suggested

that if whose balance is iomed the H.K. for. might

iny

take up a

substantial

pair from surplus balances,

de lysing

Fell

sch

M

bads

sehen

ughing.

10

Co

being able

Coming lahen liquid fmas Miss

may

end

66

irely.

Cruvend

since

all

to

you

you apparently intamplate re-investment of lave part of proceeds in

my

shared

event.

4

is rows I

not object in

& this & huld

puniciple &

Сальм

help to

price for

placed

a benks,

کرو

save better

whation is

in fact to be

with the public

while if

bonds have

sold later,

marketing by cary simge's sumed be easier than placing

block.

M

are

: