CO129-605-4 Government loans 12-7-1946 - 6-1-1948 — Page 28

55 To IK.

Fal

953

14.6.47

28

56 HK

tel. 1152

14

M' Beas

In spite of

No 47 and

para you

No. 54,

HK seems

10

be

LAA

40

hurry

No. 56 is

to float the lvan!

•not entirely

clear but.

ил

I read it the

val

apels

&

of the loan

under the

restuct hippos of the amount

proposed

Ordinance, to $100 millions (see para it of

No. 54) j

and

mi addition

10 borrow

$50 millioni

at

from the Exchange Lund

This $50 millon

22% 12- not apparently be

loan

to be

rassed

Such borrowing

cuvested

cunder

in the

the Ordinance.

would presumably require

would

special legislation;

Ordinance

the investment

as

Section 6(3) of

No. 54% of 1935 auchonges

of the

Tina's assets,

10

authorgs the

Goot

but does not appear

To

"borrow from the Fund",

The Fund totals £33 millions

but

+20 millions

is

in respect of

rotes

aiculating

in China, leaving £13 millions

The £3 metho

10

borrow

in respect of the local circulation.

which the oily

prepresents 25.

vals proposes

the local circulation.

7

5

рала

of No. 56

As regards

no

objection, although the