TNAG-0448-FCO40-513-Sterling-assets-and-balance-of-payments-of-Hong-Kong-1974 — Page 129

GRS 65

PRIORITY

CYPHER CAT/A

RECEIVED IN

REGISTRY No.52

-3 APR 1974

LAKK Siu

CONFIDENTIAL

[OP CUPY

RE: 32

LAGI

NEXT

RET

PA

A6

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이프

FM HONG KONG 9206452

CONFIDENTIAL

TO PRIORITY F C O TELEGRAM NUMBER 397 OF 2 APRIL. 1974

PERSONAL FOR YOUDE FROM GOVERNOR.

YOUR TELEGRAM NUMBER 317: STERLING GUARANTEE.

I THINK WE MUST LET THE EXPERTS AND LAWYERS ARGUE THIS OUT AS WE TOO ARE ACCOUNTABLE ALBEIT TO THE HONG KONG TAX-PAYER. ON OUR SIDE WE WILL TRY TO ESCHEW DRAMA THOUGH WE FEEL EXTREMELY AGGRIEVED.

MAGLEHOSE

FILES:

HEAD HKIOD

HEAD FRD

MR. YOUDE

MR. MARSHALL SIR D. WATSON

CONFIDENTIAL