CO129-597-3 Estimates 1950 22-2-1949 - 3-11-1950 — Page 5

5

I think the amplified cross-

without

can

да

reference to Treasury

point about the Earnings and Profits Tax at X

in his minute.

4. We are un fortunately still held up over the question of loan issues in the form of bearer bonds, since I am afraid out draft telegram to Hong Kong about this is still with the Treasury for concurrence (54126/4/49). In the draft reply to (1) and (2) which I have put in I have made a reference in alternative to this matter. The inapplicable alternative can be struck out before the reply issues.

No

5. The draft is not more than the bones. doubt Finance Department will have something of more value to add to it. Copies of (1) and (2) went to the Treasury when received. We have had no comments. Should we sent our draft reply to the Treasury for concurrence or merely send a copy after issue for information? The Estimates will be introduced in Hong Kong very soon (last year the date was 19th March), so if we have anything worth saying we ought to say it at once I am sorry these papers have been with me for some days, but I have been very busy.

Mr Wallace.

J.

use

9.3.49.

agree with M'hadferen

and

with the draft-

and with

Ј

frer minute,

very

the part

in [];

as the fim.

telegram (except for

the

mener

wa

point-

not related

to any particular categones of habilites, perhaps Jope that sentence might he omitted, although

I quite

zee

It is

M' Radford's point).

not clear

15

what exbut the

Governor shave the views indicated

of No. 1. I think perhaps it would

to refer to

draft somewhat

that para

LM

مو

paa y

be as

well

reply.

is amplify your

I have ventured

And

subunit

an

alternative

fuller draft which generally follows the

lives of your draps helnemer

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