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

17

but it appears that

if

this is issued

the price will have to be only 93, which is

to an

effective rate

locally

5 equivalent

• 7 interest of 4.34%. Consqueur tay

the Governor would like to know what are the prospects

7 raising

a

sterling

loan

of approvalent

amount

in London at a lower rate

of interest.

of this

is not possible the local issue will be made befor

the end of the year at the price quoted by

the

Hong Kong and Shanghai Banking Corporations.

In

any

case the luck of the proceeds

are to be

invested in short term investments or

fixed deposit for a substantial period.

placed on

In

many ways it is a

pity

that

Hory. Kong

should have waited until now to issue the balance,

although local conditions have been disturbed

for

some time now as a result of the Sing sapanese

hosilinis.

? The first step is to cavoult the CI

CA

at the same time

(25-010 M. Ravnik), Ransons),

a love to

Tay.

S.O

adeing

sending copies of a

for their news.

A..V. Gabsworthy

22/10