CO129-605-5 Government loans 4-2-1948 - 8-1-1949 — Page 17

Portsmore's letter for making

an exceptions

not apply 17

do

Case

of the First Issue

of the

in the equally to subsequent me

immer

same

subsequent loans of the same

and

However,

type.

assumin

9

that the Bank of

England decide they cannot extend this

Concessio

and

assuming

bran

that the Governor's

reading of the position (vido 5) is carred,

then it follows that the remaining suver

이

any

-)

the Rehabilitation hoan (HK$100M) and

further loans it

vasse

may

be denied

for development schemes, e

Tai Lam Chung Reservoir,

fact. In

Governor

conveying

this

are

8.91

bound to

information to the

shall also make it clean,

at least in the

Care

of Tai haver Chung,

that it is unlikely that he will be

loan in the London

able market and that

to rave

we

know of

no

alternativ

source of finance.

This is not

I think

acceptable

situation.

and

the

next step

should

perhaps be to ask the

Economic Deversion what

solution

we

should seek

seek?

Bradford

་/་

(This point in holding up

communication in draft

financial min

on

despatch of

a

53687/48 about the

invited in the Taiham

Chung Scheme. Vide

pp. attched)