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THE HONG KONG GOVERNMENT GAZETTE, JANUARY 5, 1940.
EXCHANGE FUND.
POSITION AT 30TH JUNE, 1939.
No. 16.-Reference is invited to the statement regarding the Exchange Fund published on 30th June, 1939, which indicated the position at 31st December, 1933. During the six months following that date the Fund purchased a small quantity of Silver Subsidiary Coins to be refined and marketed.
It was not found necessary for the Fund to operate in the local exchange market during the period now reviewed.
On 30th June, 1939, the Certificates of Indebtedness outstanding amounted to $192,121,887 which is equivalent to £11,907,554 @ Is. 23d. the middle market rate on that day; the total assets of the Fund amounted to £13,226,195 of which 73.46 per cent. was held in gilt edged sterling securities, 26.44 per cent. on deposit in London at call or short notice and 10 per cent, in silver.
THE TREASURY,
HONG KONG,
31st December, 1939.
Light Dues.
H. R. BUTTERS,
Financial Secretary.
TREASURY.
No. 17.-I hereby give notice that the figure representing the average opening selling rate for the month of December, 1939, of the Hongkong and Shanghai Banking Corporation for demand drafts on London is settled at 14.87.
30th December, 1939.
A. J. C. TAYLOR,
Accountant-General.
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