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Coby
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4 CA
Treasury
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2c12/9
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12/9
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To Treas
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16 Sept.
Page
Page
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NO SECRET (2)
J
L
まだ
53598/401M.
GOVERNMENT HOUSE,
HONG KONG.
Q. D
4- SEP 1940
V
15th July, 1940.
9
to ba (18)
Freas (19)
My Lord,
With reference to Mr. MacDonald's confidential 14 telegram No.133 of 4th April, 1940, regarding the issue of the balance of the Hong Kong Government 31% Dollar Loan, I have the honour to inform you that the issue amounted to $11,790,000 of which $5,790,000 was taken up by Government.
The
2. Of the remaining $6,000,000, $500,000 was taken up by the Bank of Canton Limited, and $400,000 by the Mercantile Bank Limited. There were only 42 applications from the general public amounting to 3411,000. balance of $4,689,000 remained with the underwriters, the Hong Kong and Shanghai Banking Corporation, as was anticipated in my secret telegram No.132 of 15th March,
1940.
3.
Of this $3,000,000 has been placed on fixed deposit for twelve months at 3% per annum in accordance with the agreement with the bank, while in view of the
present uncertainty of the political situation it has been considered advisable to credit the balance (after deduction of underwriters' commission) of $2,640,000 to the
Government's current account for the meantime.
THE RIGHT HONOURABLE
LORD LLOYD OF DOLOBRAN,
&C.,
&C.,
&c.
age 9
age 9
Page
Page
10
2
·4.
Should conditions improve opportunity will be
taken to place part or all of this on deposit at 3% also.
I have the honour to be,
My Lord,
Your Lordship's most obedient, humble servant,
NZ Sant
Officer Administering the Government.
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