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COPY OF TELEGRAM RECEIVED FROM OUR NEW YORK OFFICE
DATED DECEMBER 16TH.
H. & S.B.C. Kobe wires 16th December:-
Advise H. & S.B.C. London the following by wire:
Refer to our wire of 4th although Yokohama Spede Bank Ltd. buying sterling freely from merchants basis 1/21d T.T. Yokohama Specie Bank Ltd. refuse to buy from us at any rate nor can we sell to any other bank (stop) This amount to discrimination and it is seriously affecting our business (stop) Also we may no longer be able to finance your drawings account Embassy, Consulate, Credits such as your Letter of Credit No. 2335 (stop) British Legation wish you to place facts before the Exchange Control (stop) To assist H. & S. B. C. to operate in the face of this discrimination will not Control allow us to buy U.S. currency in London for say £50,000 per month (stop) Ministry of Finance object to our
increasing our over-bought sterling position which is at present £85,000 and request us not to buy sterling unless we can sell.
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