CO129-576-4 Loans for public works 3-7-1939 - 4-1-1940 — Page 41

(*3950-150) Wt. 46262-29 ("4940-150) Wt. 25498-38

30,000 3/39 T.S. 695 695 10,000 9/39 T.S.

C. O.

Mr.

Mr.

41

Mr.

Mr. A. J. Dawe.

Sir H. Moore.

Sir G. Tomlinson.

Sir J. Shuckburgh.

Permt. U.S. of S.

Parly. U.S. of S.

Secretary of State.

DRAFT.

anticipated that, provided the

revised estimates of revenue

and expenditure for the current

year are realised, the

Colony's surplus of assets will

on the same date total

13, 627,526; and advances

band other the 1934)

FURTHER ACTION.

agai:

against loan accoun

are

exceed

To Both

See min

expected to amount to nearly the

nearly

whole of the nominal surplus.

is

3. The Hong Kong Government

a now contemplating the issue

of the balance of the 1934 loan

(say $12,000,000, the equivalent

of £750,000).

with a view to rendering the

Colony's surplus assets fully

liquid, and it will be observed

that the Governor has in4igated

suggested horrowing

the possibility of uising-e

stowling loanf an equivalent

cheaper

amount in London at a/rate of

interest