582457-1940-Exchange-fund--Position-at-31st-December-1939 — Page 1

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THE HONG KONG GOVERNMENT GAZETTE, JULY 5, 1940.

TREASURY.

Light Dues.

No. 771.-I hereby give notice that the figure representing the average opening selling rate for the month of June, 1940, of the Hongkong and Shanghai Banking Corporation for demand drafts on London is settled at 14.88.

ERIC W. PUDNEY, Acting Accountant-General.

29th June, 1940.

SUPREME Court.

No. 772.--It is hereby notified for general information that, pursuant to section 5 of the Criminal Procedure Ordinance, 1899, His Honour the Chief Justice has ordered that the next Criminal Sessions for the despatch of the business of the Court shall be held on Tuesday, the 16th day of July, 1940, at 2.30 o'clock in the afternoon.

5th July, 1940.

EXCHANGE FUND.

L. R. ANDREWES,

Registrar.

POSITION AT 31ST DECEMBER, 1939.

No. 773.-Reference is invited to the statement regarding the Exchange Fund published on 31st December, 1939, which indicated the position at 30th June, 1939. During the six months following that date the Fund purchased a further small quantity of silver subsidiary coins to be refined and marketed. Most of the Fund's ho'dings of silver were sold during this period and but a small balance remained at the close.

The Fund operated in the local exchange market as found necessary.

On 31st December, 1939, the Certificates of Indebtedness outstanding amounted to $176,291,630 which is equivalent to £10,972,318 @ 1s. 21 d. the middle market rate on that day; the total assets of the Fund amounted to £12,436,900 of which 73.50 per cent. was held in gilt edged sterling securities, 26.45 per cent. on deposit in London at call or short notice and 0·05 per cent. in silver.

THE TREASURY,

HONG KONG,

30th June, 1940.

H. R. BUTTERS,

Financial Secretary.

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