Secretary's Department - London Letters - To London (Indexed) October 1927 - August 1928 (2024)

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Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (15)[...]Commonwealth Bank of Australia,
36 - 41 New Broad Street,
LONDON. E.C. 2.
Dear Mr. Armitage,

Your letters of the 19th August have been duly
received and the contents noted with interest.

Regarding the establishment of an Agency in New York,
the matter of preparing a Power of Attorney for Mr. Mason is in
the hands of our Solicitors and will be sent on as soon as
completed.

Regarding gold shipments and your suggestion that the
difference between the cost of freight to London and the cost to
3an Francisco should be borne equally between the Federal Reserve
Bank, the Bank of England and the Commonwealth Bank, has not yet
been considered by the Board, but is not likey to be approved
as we are fully of opinion that when the time comes for further
shipments we will be able to make arrangements at this end for
freight not exceeding 7/6d. possibly less. Had London left the
matter in our hands on the last occasion instead of communicati[...]uld probably have made the
arrangements in regard to that shipment. We do not, however,
desire this information to be conveyed to the. Shipping Offices,
although there will be no objection to your advising the Bank of
.England confidentially of our views.

The Treasury have not yet announced the terms for the
big Conversion Loan, but we are expecting them to do so at any
moment. Th[...]to be underwritt-
en by the other Banks and ourselves at a fee of 10/4. We had
some difficu[...]line owing to the
stringent conditions at present prevailing in Australia due to
the dry s[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (16)[...]G
,e are in recei, f your letter f the 13 ultimo
whtch crossed with ouru the 4th Augusit containin6 ur advice
as to the manner in which we desired the gratul y an relative
bank ubsidy dealt with.
fe would intimate that cox 'ncing from aot year ao ux
followin6 the practice Jr °hare nit.; to "Administra 11;xpenses"
11 gratuitous payments such as this made at tiat.,1 various u 6,nche
0 0 oars pestdn ng. - ranche.s dra[...]lor th
allu)unt involved.
Hogiever, in view of your action in this case, in order
that there may be no delay we have instituted the necessary[...]ve lax en*
deuited saluxy 4,83 6 8
lien Subsidy 2 18 6 4 9
f coral Superanuation Fun0
Credit contribution 4:2 1 8[...]to London

e have als remiLtLAI to you sc.) /14 lod.
(T tyon,o pounds fourteen. shii1ings and t;n' ng the
usual refund of .6.?. contributionu.
Yours rai id ly[...]or.
PI se havt., e rIclosed form of reoei etc
returned to 1. office.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (17)[...]of wrote you last on 5th instant, and have now
received our Letters Nos. 286 to 271 inclusive all dated
8th September ► 1927.

BANKL§
....1KOJAIM.
Copies of correspondence enclosed with your No.266
have been received and noted .

LONDON FUND ec FINAN - Your No. 26
We are obliged for your advises under the above
headingl which have been perused with interest.

AGENTS & CORRESPONDENTS.
NATIONAL BANK OF EGYPT.
Referring to your No. 270, when the copies of the

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (18)[...]-La-39

- 2 -
above Agent's revised List of Authorised Signatures and control
documents come to hand they will be forwarded tothe Branches
concerned.

PAREAWPIEEL_REDEs now
BAN UR SALOMON ALHATIEIFF PIL(- RHODES ETC.
LC. We thank you for the advices in your letter No.270.
Our records are being suitably amended and Branches circularise
a[...]COL. & OVERSEAS

LC. The specimen signatures, documents etc. mentioned
in your letter No.239 have been received and distributed
amongst our Branches concerned.

1112_1140I4111E:
130EHMIS[...]AtL
LO. We aft pleased to learn from your No. 260 that
arrangements have been made for Capitals to -sue direct T.T
on Prague and note that for the present the Boehm4sehe Escompte
Bank do not desire similar facilities on Australia.
A copy of our Private Telegraphic Code is being
forwarded, and we are advising them of the fixed numbers
which will be used by our Capital Branches when authenticating
T.T. messages to them.
With regard to your final paragraph we do not
intend to allot the Boehmische Esoompte-Bank und Credit.Anstalt

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (19)[...]-

a fixed number until such time as they'destre direct T.T. facilitiei
on Australia. As mentioned In our letter N. 389 of 18/1/27 all
messages despatched by our Capital Branches are authenticated by
the Capital Office using the[...]POSTAGE STA PAPER.
BL. We enclose herewith copy of lettOr dated let instant,
received from the General Manager of the Note Printi[...]er with the sample sheet and
packet of pieces referred to in the final paragraph of his letter.[...]the notice of Mews. Portals and advise us in due course.

jIMBASGE Og AUSTRALIAN NOTES.

•[...]the following constgnments of notes by steamer were made
between branches during the week ended S[...]Per. Amount.
5/10/2 bourne eldpey Ormi ton" C50[...]Brisbane 176,000[...]Total...... 46 it A,788 000[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (20)[...]POSTAGE STAMP PAPER


I am in receipt of your letter of 20th September, and
note your advices for which I thank you.
regret to report that our further experience of the
paper has only served to emphasize the difficulties referred to in
my letters of 26th August and 17th September. We have persevered
hoping for better results. The paper continues to show a poor
surf[...]and delays. The machines have to be
stopped frequently so that the pieces of dried loose pulp,(which
apparently have been glazed with the sheets) may be removed from
the formes. This is a very serious[...]causinE,
philatelic consternation. I am endeavouring as far as possible
to safeguard against such happenings and have fourteen girls
examining ar.d sorting out the stamps after perforation; our
normal staff on this work is two or three girls.
In all my experience I have never seen paper so un-
satisfactory in this respect. An examination of the bulk stock
(105 cases) reveals that the cases are marked, variously, 2x7,
2 x 5, l x 9 or 2 x 7[...]not for some little time after the first cases were opened up
that we noticed the different markings. So far, the paper out
of the cases bearing the last mentioned marking is reasonably goodl
but that out of cases bearing t[...]s very
troublesome.
In an endeevour to make the paper suitable for printing
I[...]mmunicate with Portals
Ltd. although, as you are aware, we have received the full order
from them.[...]we complain.
Yours faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (21)[...]S FROM LONDON.

Dated 4.10.27.
3-frures Extracu.
ITETTIT-
Commonwealth Governmens Accounts decrease due to payment to
British Treasury State Government Accounts decrease due to
Bank of England account of queensland State Government also
interest on State Loan
Dated 0 10 27.
No. 414. On account of Lorthiois Freres, S.A., we establish
a Documentary Credit in favor of........ in exactly si:ilar


terms to our Credit 916 to the extent of £50,000- available
30th September next year. Record as our L/C No. 33. Red
Clause full extent. This credit is also available at Lelbourne
and Adelaide and other 7ranches.
Dated 5/10/27.
No. 415. Referring to your telegram No. 678 Head Office
debited £46,000-.
Latest advices quote -
New York sight rate on London 4.86 13/16
Montreal 4.86
France T.T. 124[...]15
Czecho-Slovakia T.T. It 164 3/16
Germany (Reichmarks) " 20.41[...]Portugal 2 7/16
It
Calcutta 1/5 61/64
Shanghai 2/6
11
Chefoo'(China)
Dated 71c?J.
No.•
---416. — Rtiiiierring to your letter of 17th Au7ust 484 silver
received Commonwealth Public Acco'nt credited £4,950-. New
York sight rate on London is 4.86 13/16.

Dated 7/10 27.
No. 411. u ject to your approval, wo establish a documentary
credit (London form C.B. 1) favoring drafts of Amalgamated
Freezing Coy Victoria Ltd. at 30 or 60 days sight to the extent
of £20,000- available for 6 months covering invoice value less
2 frozen m[...]ded and including War Risk to be effected to
your satisfaction. Certificate of Insurance or Lloyd[...]Policy to accompany drafts.
Available Melbourne Only - Record as L/C No. 54. Kean reported
by their Bankers as quite good for a[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (22)[...]S-La-39

City Council Loan would be regarded as extremely large
not being Trustee security. Recommend £2,000,000 to be
followed by further £2,000,000 as soon as market admits
currency 25 or 30 years probable issue price for 5% not
less than Z96/10/- or for 54 not less than £99.10.-. Latter
would be much more populat with investors as was clearly proved[...]th Wales State Government loan and would be
more quickly absorbed enabling another i sue to be mad[...]his loan at not exceeding par and
accrued interest. We are quite prepared to consider Brisbanz
City Council and Metrop[...]ncil out of the way. Has
question been considered of Government guaranteeing Metropolite
Water[...]s class investor in
non-trustee stocks look more to nominal rate than actual yield.
Possibly a State loan rill he issued before Sydney City Council
which in that caze will h[...]s. Collins
has cabled Prime Minister Canberra regarding coming issue.
Dated W10/27.
4574ist. Sugarlrices -
Oubas B. 96% polarisat 6 • • s 12/9
Amepican granulated...W.00000a* 00•4 16/


Canadian granulated.... *04*•0** 16/-
October delivery
Java[...]Java average 17 tel quel. .............. 13/6
October, December[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (23)[...]670

Dated 51 2 7.
0. Commonwealth Conversion Loan £36,000,000-
opens to-morrow for cash and conversion subscriptions. Price
of issue 981%, Interest 53 per annum from date of lodgment
moneys, Interest subject Commonwealth taxation but free State
taxation. First interest payable 15th February next. Optional
maturi[...]r 10% on application
25% on 2nd November 1927 63-?‘ on 14th December 1927. Conversions
restricted 4i% and 5;"L loans maturing 15th-December[...]e effected on 15th December, 1927. Converters
receive on 15th February 1928 two months interest at 50; per
annum also cash bonus Z1.10.4 on[...]1927 should be detached from Bond. First
interest due 15th February 1928 on all cash and convelsion
applications payable to subscriber. No closing date fixed
Treasurer reserves ri ht to close loan at any time.
Dated 5 1C 7.
No.678. Pay to
Bank of Austr[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (24)[...]1,-inc, the rew wonthuFe :^12de
advance*4 tc.4 .„1.4,s[...]account to the too bodies$ such
advances at ,prezent watevritinGto•approxim-A:.1j ,$[...]r board* Thcze.
t'Gvances al:e to LC.4 re-v,id u bL cisLues tc Le made by the b[...]royide
utLr E4cciaallwAion at f4 te when oar resource:4-2 will ,44
Le
requited in connection with the Commonwealth converb[...]1st instant advisi
that the Jater !,:oard desired to float a loan of g1$0')1 0 )00 in
r or Lovembe': und that the :6risbane city Council also cteoireti
a ican Of s:J4,5J1.4.34j. iV'e have now received your iya6visiwi
tht the LonCon market is quite prepared to con:Ler
when the Sydney City Council loan[...]ve also been in touch with the ic Tork mariot
regarding the Ater Ioard loan and have received an in6loatiOn Lit
a 5, low could pro /111,y be ;,ssu[...]it is probable that the New York warLct would
require tLie guarantee of the ueensland Government and we are at
preLlent in communiction with the oard concerninz this mowtter.
ior your information might utate that the New York market appears
to take the view t71„t the Commorpmaltb lwirtrrment i[...]uncil on wAich the Commonwealth
Government iJ re,:esented alAcoic, Janction any loan issue t#at i4[...]t* .e understand that the oeensland
Ire-;3urci will bring this matt3r up tor[...]1,0n
Council and we nttt no tjtrieulty in Ole retvrds
the outcome of the ,tue, eno land 'ere . :,k,Arer cussi on with 14e .Loan
Council in this connection we .ii,ave nut yet aproached the,4tieric!ian
market c cernin the brisbanc City Council loan,
It,kard to your LwaelotiOn that the Bizbahe
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (25)[...]would appeal to the Council 1.t
the present times nor have they at present the power.
The cable advicu receiveti from you and from
New York will be coniAdered by the Dank 13o rd el all fur hot
communicate iith jU by cable in the course of a :Ctrs daye.
Yours rnAthrully,[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (26)[...]We thank you for the advices contained in your 271


With regard to the discrepancy of £3.8.2 we had
noticed the overcharging of the premium and we drew on you for
the amount in question, the relative charge no-Fe being,[...]e dated 5th instant.
7„e have credited the amount of your remittance to
Suspense Account Elranches and should he clad if, to finalise
the matter, you would return the amount on your next debit note
to this Office.
From your advlces it appears that the overcharge
was no[...]have simplified natters if the amount
of £3.6,2 remitted in adjustment had been forwarded by the sam[...]ad of a week later.
Tours faithfully,

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (27)[...]Dear Mr. LcComas,
Mrs, Andrew Fisher has spoken to ri:e about
her third boy, Andrew Wallace Fisher, who has just
metriculated and is anxious to secure employment as
a clerk in the Comonweal[...]good officer of the bank. It is to be regretted,
however, that his age is about 18[...]t school until a few weeks ago, and
therefore is not leaving any other 6mployment
It has occurred to me that the Board of the
Bank migh[...]g to waive the condition as to
age, in view of the fact that his father, the former[...]as the founder of the Bank, n'no
fel sure that the Board would not 11;,-ve reason to
regret doing so.
MT* Andrew Fisher, senior, is very far from
well[...]!,
members of his family are living upon the savings
he was able to rake during •his career, and the ladts
appointment would he[...]to the ftmily.
With kindest regards,
Yours faithfully,[...]Commonwealth Bank of Autr ha
M lbourne
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (28)[...]wrote you last on 13th instant, and have now
received your letters Nos. 272 to 281 Inclusive dated 12th[...]BANK LTD. /'
The advices in your No. 276 have been noted and
our List of Correspondents amended as necessary.
With regard to ftstgate, this place has been
deleted from our List of Correspondents, but according to our
records it has not been included in their list of offices
authorised to draw on our Branches.

COMMERCIAL BANK OF GREECE.
We note your remarks in regard to the above.
SOUTH_ AFRICAN EXCHA[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (29)[...]We thank you for the advices contained in your No. 273 and
note with pleasure the arrangement made with the Bank of England
regarding the t4,50O,000- left with them.

B


Enclosures with your Uo. 274 have been received, for which
we thank you.

BANK'S PR[...]DE - BANK OF ENGLAND. You jo.274.
In view of your advice we to-day forwarded you a further
copy of the Bank's code in case the one f[...]that the code
book de patched to-day includes our private section, and if
.t is necessary to pa[...]irst see that the private section Is extraced before
hand. Should the other code book have reached you, however,
you may retain the code sent to-day for your own purposes.

LONDON B alma A4RANGEMENT3 GOVERMENT OF TASNANIA.
We are obltged for the full information embodied in
your No. 275. The text of your cable message of 12th ultimo
was conveyed to[...]Government, hut so far we have
heard nothing further from them. As already intimated it would


appear that they referrtid the matter to London for advice as to[...]issue.
de will keep you duly posted regarding any developments
in connection[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (30)[...]TAME
adve es contained n your No. 281 are noted with

CONTINE TAL BANKS.
Revertin to your o. 185 in vlich you enclosed
schedule of Continental Banks Accounts kept at your Office
would mention that copy of such schedule has been passed on
to our Capital Branches, who wherever possible w 11 influence
business through those[...]n behalf of the
above Council, and thank you for your reply that Nivlson & Coy
recommend the issue early in Jailuary.We note that y[...]r on the suggested terms.
Your faithfully ,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (31)[...]act....... New York sight rate on London, 4,87 3/16.
Dated 12/10 27.
10. 421. 3ecuritioe tota[...]eld on account of Note
Issue Depar $.:nt, matured to-day. Re d Office credited £4,366 • 13
representing difference between face value and cost. Balance of
proceeds credited to Note Issue Department Zipe ial Account,[...]he Note Issue Dem,rtment British Gov
ernment Treasury Bills as follows:


Face Value Z400.0 000
Cost Z395,633 8 8
Uaturity date 12th January
Rate of Discount Z4.6.771 . a0
Latest advices quote[...]# 4.87 3/32
Eontreal # 4.8641
France Tao[...]Czech° -SIovaki4 T T ° 164
Germany (Reichm*rks) 20.42
Portugal • 0 2 7/16
Calcutta # of 1/5 61/64
Shanghai 0 *[...]held an account of Note
Issue Department matured to-day. Head Office credited £1,091.13.4
representing difference between face value and cost. Balance of
proceeds credited to Note Issue Department Special Account. We[...]the Note Issue Department British
Government Treasury Bills as follows:-
Face Val[...]00
98,908 6. 8
Maturity date 13th January
Rate of Discount £406.70 p.a.
New 'York sight rate on London Is 4.8[...]anxious to keep Sydney and Brisbane on
London market and with 40 years' experience strongly expresses
oPin404104-t-44ch borrowing will not affect Loan Council in any
walreutimWt4f',.. 4ttTrustee security investors are quite a different
class. Co11104,takes view that all such operations are regard ,d
by market as 4z4ra1ian borrowing and react accordingly. t

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (32)[...]tained
by New York it would be advisable to direct some at least of such
loan to that centre as it would ease strain on London market
assist Bank of Enjand in protecting their gold reserve and engender
desirable competition, I me[...]New York financial leaders
that Commonwealth Treasurer had inti,. ted that provided terms were
equally as good Wan Council would in future go regularly to New
York market for portion of their requirements and would not wait


till driven there by London and they and Governor Bank of England
consider this is wise and will suit both markets. Lord aendyne
will probably oppose going to New York until London market satiated
but Collins and self think that to obtain best results both markets
should be regularly employed.
Dated 15 27.
No. 434. Referring to your tele ram of 13th October Maslin is
leaving fo[...]armanian 29th October.
Latest London market quotations(after deductinz accrued
interest) of the following securities are set out hermander;
Commonwealth Govermen[...]£98 5
N S.W. Government 5 1945/60 97 15
Victorian Government 5[...]98 5
queensland Government 5% 1940/60 98 15


S.A. Government[...]ramway Tot. 1944/54 99 -
Melbourne Tramways Bd . 1944 93
Bri[...]92 10
New Zealand Goverment 1946 101 5
South African Govt. 1945/75 99 15
We have to-day credited Head Office with £82,162.10. representing
interest on securities held on account of the Note s[...].

No.42: Staff. Miss A.M. Serjeant has tendered her resignation
from the Bank's service and wishes to be released on 31st October-
reason for resignation is to be married. Referring to your tele-
gram or 15th Ootober R. Nivison & Co. recommend issue early January


Will telegraph suggested terms near time of issue. Referring to
your Vele No.683 Head Office debited £33,000 credited Z41000.
?New Yorkht rate on London is 4.86 15/16.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (33)[...]-39

- 2 -
STORES - NEW CIRCULAR LETTER OF CREDIT AND LETTER OF .
INTRODUCTION.
We desire to inform you that we have now received
advice from our Note Printing Branch that they will be for-
warding you per a Bay Liner leaving Melbourne on 26th October
4,000 specimen copies of each of th[...]he Note Printing
Department will advise you direct regarding the name of the
boat and the Bill of Lading.
From the Stores Department, Sydney, we are also
arranging for you to be forwarded a suff[...]sed slips, notifying the chpage of paper on which our
Drafts and Documentary Credits will be printed. These forms
will be sent by registered packet post.


The new forms will be put into operation as from thi
commencement of 1928.
Upon receipt of all these forms, we shall appreciatl
your drawing up the necessary circular of advice to cover the
distribution to our Agents and Correspondents throughout the
world who encash our direct drafts or negotiate drawings undo]
our Letters of Credit.
//
DIRECT T.T . FROM AUSTRALIAA, ON FOREIGN AGENTS - Your N..283.
We thank you for th[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (34)[...]Dated 18 10 27*
o, abject to your approval we establish a documentary
credit with red clause (London form 0.3.2) favorinr, drafts of
Thomas and/or Thomas 'Aycock at 60 days sight to the extent of
£100,000 availa[...]unt
Bradford insurance including war risk-covered on this side. Red
Clause advances to the extent of £100,000- current at any one time.
This credit is also available at any other Australian points at
orediteet s option. Record as L/0 No. 57 Gaunt in a large way of
business and reported good by Seyds and z;nkers.
Dated 9/0/27.
ro-.42d.iaerrinr, to your telegram No, 894 Head Office debited
£29,000. New York sight rate on London is 4.86 15/16
Dated19/10/27
f S, erring to your telegram No0685 Head Office debited
Latest advic[...]New York sight9 rate9 on London9 is 4.87 3/16
kontreal 4.86 9/18
France T.T.[...]Czech Slovakia s et 164 ,


Germany (Reichmarke)" ts 20.38[...]Calcutta II 1/5 61/64
Shanghai 0 2/6re under'wri t ing to d
4,40 000,000 Victorian S[...]d */ 10 7.
o. 43 erring to your telegram of 19th October favor
Thomas Laycock[...]k New York sight
rate on London is 4.87 3/16 .
10 27.
tvison[...]be
underwritten Tuesday and issued Wednesday 26th October. Instalments
due 55 on application[...]ember #302,,; 21st December, 50
30th January, 6 months interest payable 1st July. Referring to

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (35)[...]0 432 date' 2 Contd
your telegram of 10th Oetober prospectus 1824 states p[...]al value.
Cable states rating power unaltered but that present rate is
on, unlmrroved capital value Please reply at once.
Dated 2 10 27
No 433. Referrinc to our telegram of 25th August please advise
Uits[...]4

York have Increased amount our Letter of Credit 38 by Z100,000
making £250,000 outstan[...]rafts may also be drawn
at 30 days sight - Red Clause full extent - all other conditions
as before.

10/27.
,3.4 vis[...]5. Sugaririces -
Cubas B. 96 polarisation 12/9
American granulated 16/
Canadian granulated 16/
October delivery[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (36)[...]as T.Ts to the debit of this Office
Receive fram Commercial Bank of Australia Ltd. the sum
of Z4 000 as a T T. for credit of this Office.

Bonne 11 In view of r ceipt of your Charge
Note Zal -5 -0 return our rem!, ting warrant dated 7th October
when received.
Referring to your cable of yesterday ou ma accept the
resignation of Miss Sergeant to be released on3lst October
salary being paid to 15t[...]on
to S.F. on full amount of salary paid, and remit to this
office with relative Bank subsidy.
Pay to:[...]Dated 2".
o. e erring to your teleg am of 18th instant 427
Letter of Credit approved. Should not name of favoree be
Thomas and/or Thomas Norman Laycock. Pay[...]27.
tarring o your elegram f 7th October Sydney City
Council aut[...]snue
pricy not less than Ra9,10.- per cent currency 25 years.
?lease ilapress upon R. Nivison 4c. Co. urgent need for matter to
be arranGed promptly as previous disappointment has antagonised
some memb[...]loan to be
arranged without any delay to ensure continuance relations.
Uutnal Life & Citizens will underwrite a000000 please arrange.
Purther Z200000000 desired as soon as market permits* Plias.
keep us advised regarding prospects. Purpose of loan
Eleotrical undertaking and City Resumption population metropol-
itan area 10070,500 unimproved eapital value lands[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (37)[...]7

same as April, 1024 prospectus present rate
unirgproved capital value uncalled rate value 214. in pound
amounting to £704,212 per'annum revenue of City last year
2,321023 expenditure £3,447,680 including Sinking rand
Contribution £130,659 total debt 31st D0Oember last
£14,280,088 Walking Fund 1,867,80O and further investments
proceeds,snesof residue :Lands £493,000. Loan issued under
same acts as in April, 1024

?LLQLa7
No, 667. Referrinz o your t elegram of 7th October No • 430
Sydney City Council agrees Sinking Fund clause in te'ms of
your telecram of 20th October No. 418 Sinking Fund new Loan
£17,730 see Section 26 of 1905 Act,
Dated 22J1Of27.
o. 3. Re erring to your telegram of 21st October No* 432
Sydney City Coun[...]3d, on urAmproved capital value or alternatively
6d. on unimproved capital value same as 1924 'prospectus

Dated 24L1W27. To Mr. ArmIta
90 Referrth6-1757F66F-ti egram of 14th October No.423
ree with your suggestions generally* We desire to work in
nloi it liaison with the Bank of Enj1and
ted 24
0.690. erring to your tel increase
Lotter o redit approved.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (38)[...]We wrote you last on 25th instant, and have now
received your letters Nos. 287 to 290 dated 26th and 29th
September, 1927.

AGENCY ARRAN EVENTS.
National Bank of the Republic - Salt Lake Olt Utah.--/
We have been advised that the above Bank, which
appears in our list of Correspondents Booklet and Balance Sheet,
has been closed for some time.
We shall be glad of your confirmation before amend-
ing our records.

NOTE PRINTING BRANCH - STORES.
Vie should be glad if yoit woul[...]ns Ltd. of London,-for the supply and
delivery at our Note Printing Branch of 5 cwt. Crimson Madder

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (39)[...]S-La-39

No. 6 Dry Colour, to be identical with that supplied by them
in Deoember 1925 at 3/6d. per lb . F.O.B. London.

NEW CIRCULAR LETTER OP CREDIT AND LETTER OF INTRODUCTION.
Referring to our letter No. 517 0 we are now advised
by the Note Printing Branch that they were unable to forward
the Specimens of the above forms by the mail closing on the
26th instant, owing to paper difficultias.
These have now been overcome, howiltver, and we are
advised that the forms will be sent by the Commonwealth Liner
which is due to leave Melbourne on the 9th Instant.
As previously advised you, Bills of Lading and further
advice will be sent from the Note Printin[...]Following on the cables which have recently passed
between, us, we now enclose for your information copy of the
City Treasurer's letter to us of 26th instant, together with
copy of the Council's Resolution authorising the issue of the
loan.
In view of the advices in your cable No. 41 of 7th
instant, we presume you will advise us as soon as a favorable
opportunity appears likely for the placing of a further
£2,000,000 issue on behalf of the Council.
We presume that you will advise us as early as
possible regarding the denominations of the debenture, desired.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (40)[...]ing consignments of Australian Notes by Steamer were made
between Branches during the week ended Satur[...]. To. LE. Amount.
26/10/27 Melbourne Adelaide Ferndale" £355,000[...]Oopies of the balance sheet as advised in your No. 288
have come to hand,for which we thank you.[...]TEARS.
Tho advices contained in your No. 289 are noted and
remitting warrants for the amounts referred to have to-day come
to hand.

BANK CHNUE,'... 'four No. 289.
Entriesin connection with the return of the amount of
2/10d. representing over for cheque in favor of 3. Hadland
have been passed by us to-day. You will have sin e received
our No. 506 of the 20/27 in his connection.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (41)[...]' 311FUR FFICZ[...]r,YDILIV 26th October 1927.

The Manage r
Commonwealt[...]CITY
Referring to telephone messae from your Mr.Latham
I have pleasure in attachinG the following particulars in
respect to the 4uthorities under which the Lu[...]of the City of ,4dney pproaches the mone market in the
flotation of a debenture lon.
The Resolution of Council which authorises th iuuc
n[...]tant, and copy of same
is attached as it appeared on the Agenda '4Jheet. It will be
noted that the rate of interest mentioned, was inserted


to prevent any publicity of an offer that had been received.
I also attch a copy of my report which Nrs the cause of this
Resolution being parsed.
4,s to the Authorities from the Governor in Council
required under ..decti(-)n 23 of the 1905 Act, tota11in6 8550 76
they areLiade up as follows :
For the purp[...]lectric Light 'i1 $ 104,698
Resumptions 3,047,998[...]1750000
5treets Loan 352, 5'25


Yours faithfully,[...]City Treasurer

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (42)[...]Utetin'
Council

flTh t with regard to the resolution of Council of 14th
September 1927, directing t11,11 public tenders be i_vited for
loan monies, in view of report, dated 11th Cotober 1970 by
the City Treasurer authority be given to borow Two 114111iun
pounds (i:20 000,000) now, to be f611arcd by c. fi7rther Two
million pounds (2,000,000) as soon the market admits, the
rate of interest for such 1.0ns not to exceed iivt and five[...]Lord :,:Lyor, the Tovn Clerk and
the City Treasurer be ,uthorised to place such loann, any
rCsoiation of Council which rould prevent the above being
rescinded in so far as may be necessary.°

41,

-EV10/2,6
_ - j.
S YID N

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (43)[...]12/9
American granulated 16/
Canadian granulated 16/
October delivery

•[...]£170130 together with compound
°interest at 4r0; will be provided,"
quotation ends.[...]Victorian
Loan oversubscribed applicants receive 4e. market opened
discount since improved to par.
Dated 25 10 No, 437 1 okl fi ures.
' u,)
No[...]York and anticipated
date of their arrival there,

General for South Aas tealio[...]rnment in Adelaide
Stitt exchange arranged your side. Subject to your approval
have accepted the amount and credited Head Office, Referring
to your telegram of to-day R. Niv-IsOn & Company will undertake to
issue t200,000 Perth City Council 5% debentures currency 30 years
at issue price not less th[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (44)[...]ote
New York sight rate on London 4,86 7/8
ontreal " 0 4.86
France T*T 0 124.10[...]11
Germany (Reichmarks)"
0 0[...]Portugal 2 7/16
Calcutta it 0 1/8 61/84
3hanghai I. 0 2/6-1
It 0
Chef[...]Date. 27 10 27
o. 0 Zubject to your approval we establish a
documentary credit in favor of Amalgamated FrO,zing Coy
Victoria Ltd. in exactly similar terms to our credit
No, 54 to the extent of £25,000 available 27th April next.
Record as our L/0 No 59
Dated 28 10 27.
No. orrin, to your telegram No. 693 Head Office
credited £200,000. New "fork sight rate on London is[...]27 From Mr. Armita,
o.• ease rep y o your e egram of 26th October
to enable me to make arrangements return journey.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (45)[...]S-La-39

0 27
No, 443. Referring o your telegram of 29th Ootober we have
credited Melbourne Offlee £125,000 Referring to your telegram
No.695 Head Office debited £56,000 and credited £1,O00.
Latest London rket quotations fatter deducting accrued
interest) of the following securities are set out hereunder:-
Commonwealth Government 5% 1945/75 £9810
N.3.W. Government 5% 1945/66 96 ..,
Victorian Government 5A, 1945/75 97 15
Queensland Government 5% 1940/60 98 5
6 1945/75 98


S.A. Govern[...]99 5
re' 1939 97 5
Sydney City Counci[...]amway Trst. 1944/54 99
'bourne Tramways Ed ., 1944 93 15[...]93
N. Zealand Government 1946 101 10
, Arrimm Government 5,Z 1945/75 99 15
Referring to your telegram of to-day will telegraph Thursday regard
ing Brisbane City Council and Metropolita[...]iso) Now York sight rate on London is 4.88 15/16

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (46)[...]S-La-39

ted 23/1C/27.
66i. Referring to your telegram of 25th October No. 436
City Council statement for prospectus confirmed*
to your telegram of 24th October No.434 Perth City
gun[...]00 loan for extension gas and
elestrical plant currency ZO years. If Nivision & Coy desire
quote will you cable us immediately terms.
d27/10/27.
errins to your telegram of 26th October South
Australia Sate Governw4nt transaction approved. Renew
Note Issue Department British Treasury Bills £250,000 matur
durirr November.
Dated %L 0/27.
6.G3. ReNrri to your telegram of 27th October 440
Credit approved.
. Receive f rom Bank of New 3outh Wales the sum of
£200,000 as a T.T. for credit of this Offioe.
Date29LiOL27.
94. Re erring to your tele,ram of 26th October No.439
Per City Council has arranged lo[...]£125,000 account Victorian
State Ooverament and credit Melbourne in account. Receive
from Union Bank of Australia Ltd . on 2nd November £100,000
and credit Melbourne in Account,
Dated 31
No. Do.Rererring to your telegram of 7th October No. 418
Brisbane advises queensland State Government not prepared
guarantee iSsues Brisbane City Council and Metro[...]liest
dates and probable terms London flotations. Referrins to
your telegram of 24th October - Sugar Prices Czech° S[...]explain marked decline price since August.
Receive from Commercial Bank of Austr ha Ltd. the
stun of £1,000 as a T.T. for credit of this Office.
Pay to National B[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (47)[...]G. PirrY0 A I
We have to confirm our Cable No.699 of te 2nd instant
which reads as follows
"Staff Referring to your letter of 26th September
you may offer A.G. Petford a position in our service
on six monthe probation at a commenc[...]nce and Fidelity Guarantee."
In due course we await your vi f the date

Mr. P tford commence[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (48)[...]STEEL PLATES FOR NOTES
am in receipt of your letter of 7th October with copy
of London Manager[...]ee for himself. These plates,
took at random from our bulk stock of steel. One of the plates, it
will b[...]er marks and the other
"nests" of punch holes, as referred to in my letter of 23rd June,
1927.
Before writing my original letter, I made a close in-
sp[...]umber of the plates and found that none of them were
free tom defects of some sort or other. I felt some concern at
this, and therefore closely supervised the work of the Transferrers.
found that there were few plates which did not require same
special treatment to make them fit for use. I am quite certain that
no blame could be attached to the Staff in our Engraving Department,
who, as a fact, showed resource in overcoming the difficulties which
the defective plates presented.
note the remarks of the London Manager in regard to
Messrs. John Sellers & Sons, whose reputation is well known
to me.
trust th[...]t again be faced with a similar difficulty and be relieved
of the extra labour and expense to which we have been subje.0,
in this instance
Yours faithfully,[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (49)[...]AL ACCOUNT VII% NATIONAL CITY BANK OF NEV YORK.. Your No.2 6
The matter of finalising this account will be left
in your hands should you find that it is not required on the
opening of our New York Agency.
/
MITSUBISHI BANK LTD - LETTER OF CREDIT FAVOR r„) TUB SHI
OJ O,00f.
With reference to your cable of 2nd instant asking
for approval for the establishment of the above wool credit, we
were prepared to sanction the credit if established through
English or American Banks as in thel6se of existing credits
and we, therefore, cabled you to the above effect. Your furthel
cable of 3rd instant to the effect that Yitsubishi Bank Ltd.
have not put any Letters of Credit through English Banks, but
have always approached us direct and that they are not concerned
with the other credits in favor of Litsubishi Shoji. Kaisha has
since been received. We also note your further advices that
other Australian Banks granted Mitsubishi Bank Ltd. credits.
In view of your recommendation we then approved of the credit
and wired you to'that effect.

HO GB= & SHANGHAI BANKING CORPORATION.
EY. If not already claimed please pay the London Office[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (50)[...]consig4nments of Australian Notes by steamer were
made between branches during the week ended S[...]Atount
2//11/27 Lenourourne Sydney "LIII ma 349 000
Eellourne Mackay U[...]Newcastle "Burwahil 65,000[...]V
STEEL PLATES FOR NOTES.

Referring to your No. 258 of 1st September we enclose
herewith copy of :Letter dated 13th ultimo, received from the
General Manager of our Note Printing Branch in the above
connection,[...]srs,. Sellers & Sons' notice.
We are forwarding to you by. ranto" which leaves
here on 12th instant for London, the two plates submit[...]it them to Messrs.
Sellers. We do not desire that these plates should be

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (51)[...]LI

will be appre latea

RULE 233. Under this Rule Commission on &,la L.B.R. or
is remitted to your Office by R.71. This causes
a great number of small entriee in London Credit
Notes and it is now proposed that such Commissio
be credited to "Exchange Account," at the various[...]Collection paid) and similar procedure as
outlined in Rule 236 (Stamp Duty on L.P.C.)
adopted. Und[...]to be paid by you t,
the debit of your Exchan6e Account . To what
extent will this new system affect your books?
RULE 230 'cinder Rule No.234 unless a[...]is to be calculated at the
1
3'34. 60 day's selling rate on a Bill payable "with[...]has not been carried out by some of
our Branches who have collected from Drawees[...]appears, it has been the practice of our Branc:
in terms of Rule 230 to calculate the "On Dema:
Sel inc; It and he amourlt of such would be
advised you, in[...]lelline Rate and their London Offiee retain
the proceeds for 10 days after[...]nd we
enclose special advice forms received from the
Bank of New South W[...]n.
A.11 yoi please advise if it be your practice
to retain proceeds of bills, as outlined above
for 60 days, or are same paid over on receipt
of advice in a similar way to a Bill bearing
a clause where a special Rate in mentioned?

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (52)[...]0
F-3 Dated 1 11 27 To jr. Armitacre.
(D C
Referring to your telegram of 31st October 444, documents[...]Dated /11/27.
No.608. Please advise present position Sydney City Council
is3ue. Please ascertain confidentially and advise difference
4 0 in flotation conditions if Bri[...]cS State Government.
41-1 4.) Staff. Referring to your letter of 26th September - you may offer
C-4 A.G.[...]Bank Ltd. 2,000
Referring to your tele7ram of the let November income tax debit
expen iture account at London.
as T.Ts[...]Dated o/IV27.
No.699. Receive from
Bank of Adel[...]£50,000
as T. for credit of this Office.
Referring to your telegram of 2n November Mitsubishi Bank Ltd.
credit approved if estal:lisAed thro101 English Bank as before.
If they wish us to accept withou[...]Dated. 3/11/27.
No. 700. Referrin to your telegram of 2nd November No. 447
Sydney City Council debenture held by -persons not domiciled in
New South Wales not subject to present New South Viales taxation
and[...]his condition bein3 withdrawn.
In view of contemplated chances in constitution of City present
time considered inopportune to raise question.

Pat2111.11LaZ.
No. 701. Referring to your telegram of 3rd November Mitsubishi
se Bank Ltd. in view of your recommendation credit approved.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (53)[...]ralia on London will be -
Buying T.T. 7/6,,Premium, Demand 7/u,. discount, 30 days
sight l7/6 0 60 days sight 27/0, 90 days sight 37/6%. Selling
Rates unaltered.
Dated 7 11 27.
No. /03. On 8th November Receive from Comptoir National
d'Escompte de Paris the sum of £500000 as a T.T. for the credit
of this Office.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (54)[...]day debited Head Office £20,000 for
transfer to your ster1ir account with the American Exchange
Irving Trust Co. New York - Referring to your telegram 696
Head Office debited £53,000. Referring to our telegram of
20th July we have agreed figures with authorities after adjust-
ment and followin[...]ome
Tax for fiscal year stated. Balance 1925/6 £241.16.8 balance
126/7 47,81 034/V- and for 1927/8 £10,313.19.8.[...]311:a1l we debit
our Expenditure account or draw on Sydney Branch for adjustment
from Teserve there. These payments will clear up arrears up to
31st December 1926 and in future years provision made here
will apply. New York sight rate on London L. 4.66 7/8
Week). - fi Ires - 1 11 (I.
Dated 0/11/27
No.446. Referring to your teleram of 31st October Czecho-
Slovak granulated[...]small quantity
available for July, August made extreme price. Referring to
your telegram of to-day we have debited our Expenditure Account
£20,590.-.4 Bank Income Tax as previously advised. Referring
to your telegram of 29th October we have credited Melbourne
Office £100,000 - referring to your telegram Aft). 698 Head Office
debited £40,000. ntsubishi Bank Ltd. applies for wool
credit in favor of Mitsubishi Shoji Kaisha £50,000 w[...]-
New York sight rate on London ic; 4.86 25/32
0
Montreal 4.86 i
France T.T. 12[...].12
Czecho-Slovakta T.T. 164 -
Germany (Reichmarks) 0
0[...]Portugal 2 7/16
Calcutta 0
0 1/5 61/64
Shanghai 2/67„
Chefoo (China) 0[...]tement
quotation begins
"City of Sydney debenture issued and payable in London and
the interest thereon the property of pe,-sons not domiciled in the
State of New 3outh Wales are not and will not be subject to any
tax dut[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (55)[...]4.0

Dated 3/1112/.
No. 448. Referring to your telegram of to-day Mitsubishi Bank
Ltd have not put any Letters of Credit through English Banks hut
have always approached us direct. They are not concerned
with other Letters of Credit in favor of Mitsubishi Shoji Kaisha
refer our telegram of 16th May No. 264. Other Australian Banks
grant Mitsubishi 7ank Ltd. Letters of Credit without question
strongly recommend establishing this Letter of Credit.
Referring to your telegram No. 600 Head Office credited
Z150 000.

• New York
D[...]ed
bht rate on London is 4.86 7/8

R. Nivison & Coy advise as[...]City Council
discount. Difference in flotation Brisbane City
Council if guar[...]e Loan likely to be coming
and as Sydney will require time to be absorLod both Brisbane
issues shou[...]them in mind.
Dated 4/11/27.
No. 450. Referring to your teleE,ra of 4th November we establish
a Documentary Credit with Red Clause (London Forfil 0.13 P) favoring
draft[...]hoji Kaisha on Mitsubishi Bank Ltd. London
at 60 or 90 days' sight to the extent of £50,000 avai[...]isha Tokio. Insurance includin.2; War Risk covered on this side.
Red Clause advances to the extent of £50,003 current at any one time.

Insurance to be effected[...]l Banker's Certificate that
the terms of the Credit have been complied with.
Drafts to be marked "Drawn under Letter of Credit No. .414."
Record as Letter of Credit No. 61.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (56)[...]S-La-39
6

Cr.RLI[...]Dear lir,.
WOOL CREDITS.
h„ 4rv•cY 1;wsfr
I refer to your No.295 of the 6th ultimo, and note


your advice's.
It is probable we will[...]o again visit the Continent in June or Ju:
as recommended by you, but the matter will not be defin[...]er discussion with the Deputy-Governor on his
return to Australia.
We will[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (57)[...]S-La-39

inclusion of a further 15 of our Branches in their List of
Correspondents,where drawing under their Circular Letters of
Credit may be negotiated.

I SURAN E ON AUSTRALIAN NO[...]ing consignments of Australian Notes by steamer were
made between branches during the week ended Satur[...]. Per. Amoun
9/11/27 Melbourne. Adelaide "Large Bay" £235,00[...],000

SUBSCRIPTIONS TO PERIODICALS.
Your letter No.294 dated 6/10/27. The account of
David Syme & Co. £5.17. for supplying "The e" to your Office
has been received and paid by us.

WITHDRAWAL OF 50 50 SILVER .
The advioes contained in your No. 300 under this
heading are noted and we thank you for drawing attenti[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (58)[...]£23.
- 3

discrepancies. Our branches concerned have been advised
as neces[...]/
SWIFT AUSTRALIAN CO. LTD. - YOUR LC No. 958 n. £150 000- AT[...]from Swift & Coy Ltd. have
been passed on to our Brisbane Office.

L. HAMMOND & COY LTD.
-[...]ds, London, through Messrs. Hammond, in terms of your
suggestion.

UNION OF SOUTI INSCRIBED STOCK 1 75.


Me are obliged for the Prospectus in connection with
the above issue.

AGENTS & COIREUONDENTS - DRAWINGS ON LOURENCO MAR UES.
We thank you for the advices in your No. 301.
Branches are ing circularlaed as necessary.

BAR°[...]l be distributed owl's Branches
on receipt of the relative packet.

• HONGKONG & HANGHA
We note that the Hongkong & Shanghai,136alking Cpn.,

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (59)[...]o 54
000.
Your cabl anish ng the above Letter of C edit
was duly r6ceived and the estaAishment approved, we re lying
on you to see that Me srs. 'Wan wero[...]contai in your No.
304 wh oh have been noted with interest.
Yours faithfully,[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (60)[...]'=+

Aro tn receipt or St tith
October and !Inve pleasure in able to
your including the additional your I4st of
rrespondents,
wings under ;your Iredit will
n by our fiiwi

804 the
r your control
,e would also[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (61)[...]of Australia,
Corner Martin Place and Pitt Street,
Sydney, Australia.


Dear Sirs,
A few years ago arrangements were eompleted with you
providing for your most important Branches in Australia to act as
our paying agents for Ciroular Letters of Credit.
We are at present revising agency arrangements with our
friends abroad, and would find very convenient to include among
our foreign correspondents for this purpose your Branches in
Broken Hill Geel[...]Mt. Gambier Rabaul
When your reply is received, we shall have pleasure in
forwarding to you the necessary control documents for distribution
among your Branches.
Awaiting a favorable reply, and appreciating sincerely
the value assistance you have been rendering to our travelling
clients, we remain,
Yours faithfully,[...].
President.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (62)[...]o her prices
nominal.
Cubas B.96% polartsat on 12/9
nominal,
American granulated l6/
Canadian granulated 16/-
November delivery[...]on London is 4.8?.
No.452 8 11 27 Weekl ficTures.
s ated 81
No.453. eferring to your telegram No. 703 Head Office credited
Z50,000 Referring to your letter of 26th July Swanskin analysis
shows making inferior tpurevious supplies as follows - weight
for 50 yards 120 strength 111 weft 97 count warp 35 weft 54.
We propose reject unless urgently required - please instruct us.
New York sight rate on London is CV.
Datd 27
o.'54. Re erring to your telegram of 8th November - debent
required 12,000 at £100- 800 at £500- 400 at £1,000- please
wait for further particulars in our letter of 27th October.
Latest advices quote[...]rate on London is 4.87 3/32
Lontreal ft
0 4.86 7/16
France T.T.[...]kla " 184
Germany (Reichmarks) T.T. # 20,44
Portu[...]2 7/16
Calcutta 1/5 61/64
2/6 I
Shanghai ff ft[...]l*,

Mitsubishi Bank Ltd. vise probable wool credit requirements
during the season In favor of Mitsubishi[...]apply for £30,000 to £50,000 additional to current credit.
Business is strongly recommended and we shall be glad to have
a reply 10,,, *lately.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (63)[...]6'23

Datpd %I/4 27.
tlo.465. iterring to your letter of 23rd September Commonwealth
Bank o[...]ich includes £39,000 Income Tax paid
as per our telegram of 20th July 2nd November and provision[...]..te interest on Australian
capital £220 000. Apparent profit Commonwealth Bank of
Australia - Savings Bank Department £2 0400- Referring to your
to:tear of to-day Hardman t;nder of 11/3d. relates to their own
make and cannot azree match sample. They also object to
submission analysts requirements - may we proceed. New York
sight rate on London is 4,7 3/16.
Dated 11 U. 27 yrom Mr.1 ta
40 o.[...]in New York will make confidential enquiriez regarding possibilit
tea further Commonwealth or other loan. Governor Bank of[...]onsider time would
probably be opportune for further Commonwealth issue New York
about January or February next.
Dated 1211 27.
No.457. Referring your te1e wi No. 705 Head Office
credited £50,000.

• Dated 14 11 2'
e erring to your telegram No. 707 Head Office
debited &210 000 credited £119,000. New York sight rate on
London is 4.07 7/16.
Date( 27.
1,40.459. .Jubject to your approval we establish a Documentary
credit with Red Clause (London Form C Bo2) favoring drafts of[...]aisha on lAtsubishi Bank Ltd. London at 30 0
60 or 90 days' sight to th extent of ZIO:)0 000 ava[...]anze and stamp. (Insurance inciudinc War Risk covered on this
side. ) Red Clause advances to the extellt of Z100 0 000 current at
any one time. Insurance to be effect Japan - all documents
to be forwarded direct Litsubishi Bank Ltd. Osaka. Drafts
to be a[...]Banker's certificate that the terms
of the credit have been complied with. Drafts to be marked
drawn under Letter of Credit No.5.104. Record as Letter of
Credit No. 65.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (64)[...]..',7
i .7 4. ease arranse remit by telegraphic transfer -nes:A
Office t1,0000 000 proceeds recent Sydney City Council loan as
available in multiples of Z100,000 after liquidating overdraft
your office and providing December interest. Advise denomin-
ations debenturoc required.
Dated 11
No.705 On 2th rovember receive from Comptoir National
Wescompte de Paris the sum of £50,000 as a T.T. for credit of
this Office.


Referring to your telegram of the 9th November Mitsubishi
Bank Ltd. bu ine s will suit.
d 11
No. )6. Poferring to your telegram of 8th November proposal
reject SwanmAn approved. Request Kenyons cr.pedite as much as
possible fresh make also order 200 yards swanskin from Hardman[...]ester, best price not exceeding 11/3d.set out in your
letter dated 14th Septenber.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (65)[...]00 ONWEALTH GOVERNMENT INSCRIBED STOOK REGISTRY.
We refer to your No.33 of the 3rd March last and
our cable of even date relative to the changed method of
remuneration to the Bank by the , Oommonwealth Treasury for con-
ducting Registries (including the floating of Loans) in Lond[...]tralia.
As advised the future half-yearly management charge
by the Ban[...]Bank of maintenance
of the Commonwealth Registry, plus 2 thereon, and will, of
course, not include incidental costs charged to flotat[...]it in the General
Banking Department at your Office on the 30th November and 31st
ray[...]suing
commission on cash, conversion and redemption operations
ceased to accr[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (66)[...]d on
transactions during the same period is to be refunded in te s
of our cabled advice's.
The thod of arriving a the actual cost to the
Bank of conducting Registriesis shown on the attached four
statements, which are to be adapted to suit requirements. You
will note that provl ion has been made for charging interest
and depreciation on office equipment. Please forward a copy
of each statement here half-yearly.
Yours faithfully,[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (67)[...]bf ren41_[...](1) Iurent by Commonwealth
0.F.,. in respect of Ificer, ,ftessengers[...]Treasury of actu half early
(and other employg-[...]to0 • • • • • • • • •

Registry Pork.[...]allo*ances, wages and Bank
Subsidy to 0.6.F. in respec, Oe sanager, other[...]. employees
(if any) migagll_pkrt_ligift in Registry work.
Hental value of ofTice splice allotted to the Regis
try hs pr sttit ent attached ((uote the floor area[...]d by
'Pnic to be included in this
Interest an* depreciation on value of safes0machine3
furniture and other eculpment supplied by Bank at
Its expense for use of Registry.
Stationery supplied by Bank at its expense for use
of Registries.
Registry proportion of cost of cleaning premises
11, " " " li[...]r-4eneralts fees
r.0 0 It " freight, carriage & Insurance
11 Other expenses (i[...]e value
of ponds 4: Certific tes at date of Return
QXQI[...]....amaiisatoraostermpireompowiesi.[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (68)[...]Cost to Bank of-safes, machines, typewriters, furniture, etc. for use in abovementioned Department.[...]Sare-i I writers —1Tges[...]Addreso-[...]Total of estima ed cost to 30/6/

Note:[...]ines, typ writers„)
furniture, etc . borne by the Ba k during[...]., ^.-- 0, -.1,

rogressive total of estimated apportionment to—[...]the next half-
yearly return
=it.=[...]4,*.e4reeareeitoseove[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (69)[...]-La-39

2

BL. We are enclosing copy f Commonwealth Trea 1etter
of 17th instant,and should oa gad of your advices thereon.
We do not wish to charge interes in these eases if the money
is in our hand .[...].
Iwire been re
Poo rkotin3 Co td.o

PO,

appreciate he t odble u
that your eV or 3 aQ

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (70)[...]Department of the Treasury,[...]7
it has been brought under my notice that whereas the sum of
26,608,039. 5. 3d, required for repayment to those persons who
had decided not t[...]nwealth
Bank on the let June, the sum of 24,i-60,D00 due on lst June as
final instalment on cash subscriptions to the Loan was not
credited by the Bank to the Commonwealth until 2nd :une. This
resulted in the overdraft being increased by the latter amount
for one day, and reprcsented an interest charge against the
Commonwealth of approxim[...]of 93 per cent on cash subscriptions
had, of course, for its purpose the provision of the necessary
fund to repay on the due date holders who had decided not to
convert, and it was never contemplated that the Treasury would
have to rely on the Bank to proviee those funds.
30[...]uld be glad if you
would kindly arrange for a refund to the CoAmonwealth of the
interest charge on let June in re,pect of this transaction.
Yours faithfully,[...].
Secretary to the Treasu

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (71)[...]CABLE FROM LONDON.

Dated 15/11/27.
No. 460. - Referring to your telegram No. 709 Head Office
debited E,34,000- and credited £750 000 - referring to your
telegram No. 707 Head Office credited £50,000. We have to day
credited Head Office with £13 0 750 representing interest on
securities held on account of the Note I[...]on London is 4.87 13/32
Dated 15 11 27 - No.461.


Dated 16 11 27.
1o. 462. Securities totalling £250000- held on account of Note
Issue Department matured to-day Head Office credited £20739.11.8
representin difference between Face Value and Cost. Balance
of proceeds credited to Note Issue Departmnt Special Account.[...]the Note Issue Department
BritishGovernment Treasury Bills as follows:-
Face Value £250,000
Cost £247,260. 8. 4
Maturity date 16th February
Rate of Discount £4.6.114Y p.a.
Latest advices quote -
New York sight rate on London 4.87 9/16
If
Montreal 4.86 5/8
France T.T. It[...]t
Czecho-Slovakia 164 7/16
Germany (Reichmarks) T.T." -0.43[...]Portugal 2 7/16
tf It
Calcutta 1/5 61/64
Shanghai If tf[...]1/10
Dated 17 1127.
lo. 6 . Latest London marhet quotations (after dectctine
accrued interest) of the following securities are set out
hereunder
Commonwealth Government 5% 1945/75 £98 5 -
N.1..:. Government 5% 1945/65 £98
Victorian Govt. 5%[...],97 10 _
Queensland Govt. 5% 1940/60 £93 0 -
S.A. Government 0% 194[...]op
5% 1946
1949[...]£96 15 _
Brisbane Tramway Trst 5'% 1944/34 £98 10 -
Melbourne Tramways Bd. 4 1944
Brisbane Wa[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (72)[...]1.

No. 463 - Contd.
Referring to your telegram Ho. 707 Head Office credited £250,000.
Referring to your to/0gram No. 711 Head Office credited Z50,000.
Referring to your telegram of 5th October forwarding you by this
mail conversion-application £13,610 Cici; - £1,870 51i, also redemption
application £16 0 050 % £10 5 - New York sight rate on London is
4.8
Dated 17/11/27.
go. 464. Referring to your telegram of to-day Bank of England
regard institution(s) named undoubted ordinary ttansactions but


express surptise at proposal to depart from usual method financing
wool purchases and are not prepared recommend £400,000 transaction
in the form proposed.
Dated 18 11 27.
No. 465. Confidential. At conference with Agent General for
South Australia Col[...]cts of successful issue South Australian Loan as present
quotation £97 11/16 but strongly recommended Commonwealth Loan
£7 0 000,000 5, a[...]bled Prime
Minister.

Dated 1/L?
No. 466. Nivison advises confidentially underwriting on T[...]ary 35 24th January.

Dated 21 11 27.
go.467. Sugar prices ..... all per wt. .o.b. other price
nominal -
Cubas B. 96 polarisation 12/9
nominal
American granulated 16/6
Canadian if 16/6
November delivery[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (73)[...]ABLES TO LONDON.

Dated 11/11/27.
No. 706. Referring to your telegram of 8th November proposal
reject swanskin approved. Request Kenyons expedite as much
as possible fresh make also order 200 yards swanskin from Hardman[...]ester best price not exceeding 11/3d. set out in your6,000
9) land Natl. Bank Ltd. if[...]00
as T.Ts to the debit or this Office.
Receive from -
14th November.
Co[...]y of Sydney Ltd, £250,000
AS T.Ts. fro credit of this Office.
Dated 14 11 27.
No. 708. Please credit your Exchange Account to the debit of
Head Office in account amounts of exchange totalling Z20722,7,11
remitted by you 1st October, 10th November and 11th[...]cil.


Adhere to established practice of
leaving adjustmen[...]s Head Office.
Dated 15 11 27.
No. 709. Referring to your telegram of 14th November Letter of
Credit approved. Pay to -
Union Bank of Australia Ltd. the sum of £16,000
English Scottish & A/ian Bk Ltd.[...],000
as T.Ts to the debit of this Office.
Receive from -
Coml. Bank of A/ia Ltd.[...]'es ompte de Paris £25,000
as T.Ts for credit of this Office.
Dated 17 11/27.
No, 710. Consult Bank of England regarding depreciation yen
and whether position of Mitsui Ban[...]Ltd. 2 or 3 month!
against Japanese Bonds to market value of £5000 000 sterling
lodged with our Agents in Japan. Can they recommend this
transaction. Please reply at once.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (74)[...]22nd November, 1927

LETTER NO. 526.
Per "Mooltan."

• The Manager,[...]Dear Sir,
AGENTS & CORRESPONDENTS - Your No . 307.
CREDIT SUISSE.
We thank you for th[...]n_i,.....11.11LIALL RAlita LOAN
Your advices are noted. We have amended our
records accordingly.

ANTI OF INDIA LTD.
Our arrangements with this Agent are being revise
as necessary.
We are forwarding cop our Private Telegraph
ode to their Branches at[...]MADRAS
SINGAPORE.
and advising them by separate letter of the relative fixed

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (75)[...]526.

numbers.
Their Bombay Office already hold a copy of our Code and
the fixed numbers of our Sydney and Melbourne Branches, the fix°
numbers of our other capitals are being advised them by mail.
For your records we append the fixed numbers allotted
to their five additional Branches for use when cabling our
Capital Offices.[...]29
COLO - 296
HONGKONG - 247[...]253
SINGAPORE - 231

METROPOLITAN WATER SUPPLY 83 S[...]0104.00.00.

It is noticed that on recent transfers for credit of
the above accounts the exchange was added to the r aunts at
your end and apparently debited to London 'Exchange Account.
As you are aware, it has been our practice in the past to
adjust exchange on such transactions at Head office and we
desire that you follow the customary procedure. therefore.
cabled you in this connection on 14th instant as per= reading

MITSUI BUSSAN :A SA LTD.

5Ec, We cabl[...]Japanese Oovernment Bonds to be maintained
to the market value of a000000 sterling which are to be lodged
on our behalf with a Bank at Tokyo to be nominate[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (76)[...]-'3 -
also desired you to enquire from the Bank of England as to the
position of Mitsui Bank Ltd. and Mitsubishi Bank Ltd.; regard
i the latter enquiry we thank you for your reply of idem to
the effect that the Banks mentioned are considered undoubted
for ordinary transactions.
Regarding the proposal to make advances to Mitsui[...]ght mention that the Company's Sydney
Manager recently approachtod us with a request for advances up
to Z400,000 to cover the purchases of wool pending Ahipment.
They are not desirous of pledging the wool, as in the event
of same arriving in Japan before payment had been made of the
relative drafts they would be placed in the invidiou[...]eir business position would in that event be
prejudiced. Their suggestion to lodge Japanese Government
Bonds to the market value of £500,000 sterling as security
for advances has been considered by the Board; payment
for the wool when ship[...]e either by T.T. or by
the negotiation of the relative documents under Letter of
Credit. The. matter has not yet been definitely finalised,
Yours faithfully

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (77)[...]QQD
have to advise that our New York AF!erey has been
guxqied with copies of the gene[...]VJOAV puensland New York iS:7LIQ 6% anturing 1947
117;0.[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (78)[...]age',
LONDON.
Dear Sir,

We desire formally to advise approval of payment
24/ V ild. representing charges by *tJaokson Sprin Ltd. in
connection with the forwarding of some effects of the above from
our Flinders atreot Brunch to liondon. This amount has been
draw[...]Lrge Note to.-Uhq.
Your aithfu[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (79)[...]a _rkir_ended 3 27.
We enclose herewith the customary copy of this

Statutory return.

FINANCING THE VOLIE1.1,%‘a WHEAT POOL[...]tates during the coming season,
and we have agreed to make advances to them, through the
Rural Credits Department, at the interest rate of 6% p.a.,
against debentures covering the assets of each concern, at
the rate of 4/2d. per bushel or 80% of the market value of
the Wheat, whichever is the lesser.[...]•
The Wheatgrowerss 3/6d. 8d. 4/2d.
Pooling & Market-
ing Coy Ltd.
Victori[...]Sth.Aust. S.A. Co-operative 3/8d. 6d. 4/2d.
Vheat Pools Ltd.
En. addition to the debentures we also hold the
guarantees of the parent companies in N.S.W. and South
Australia, vi[...]the S.A. Farmers' Co-operative

• Union Ltd . respectively.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (80)[...]53(

Australian end.
We have already advised you regardingthe Western
Australian Wheat Pool for t[...]UEENSLAND STATE T BOARD.
- For your information, we would mention that a compulsory[...]will be light and is not expected to cover local require-
ments. The Board have now had their Act a[...]ve a valid security over the wheat, and we have agreed to make
advances to them through the Rural Credits Department ® p.a.
against a "Char[...]r
assets, to provide for a first payment of 3/6d. per bushel to
growers plus an additional 8d[...]making
4/2d. per bushel in all, or 80 of the market value of the wheat,


whichever is the lesser.

DOCUMENTA T WOOL CREDIT Your No. 57 for Z100 000 as_2,1,ANDET.,
Copy of requisition of the above documentary letter of
credit enclosed with. your No. 310 has been received.
Information recently came to hand regarding W.C. Gaunt
from which we gathered that his financial position is somwhat
strained although your cable of the 18th ultimo, reported favorably
regarding his financial position. We therefore, cabled you on
the 23rd instant as per readings and have since received your
reply to the effect that after very full enqu[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (81)[...]OW

nothingto al,
alter yo previous report. We note yourcomment
regarding Rod. Clause facilities and that these could possibly
'bitreduced - this we think is desirable and would be glad it
you would endeavour to have your suggestion tarried nto effect.
In aqrsase credits on behalf of Gaunt should be granted with
extreme caution as the information available in Australia
regardinghis standing is not reassuring.

SINKING FUND COMMIS. JOAER4.
Copies of your letters addressed to the Sinking Fund
Commissioners, Melbourne, are to band v -for which we thank you.
We notice that such letters are still addressed to
Melbourne, but as the Treasury has now been transferred to
Canberra we think it well for all such communications to be
addressed there in future.

• NOTE PR NTING BRANCH.
OOPP PLAIT ROURY PR TING MACHINES.
Your remarks under the above heading are noted with
thanksind your further advices are awaited in due course.

EN' OF- VICTORIA V IN 0 I STOC[...]JAPAN PINANC AL DEVELOPMENTS.
WS are obliged for the memorandum from the nt
Of Overseas Trade rola lye to recent financial developments in
Japan.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (82)[...]Ing2110112_22PE. l/
Appropriations are being ranged to cover the names
of the Companies mentioned in your No. 311 and circular
instructions,in this c[...]for bring this matter under noti e
and are wry ing Hobart on the subject.
We are also advisingothwr offices concerned.

AG T[...]to hand from the Prim Hrvatska Stedionica and we are
ciroularising Branches tn terms of our Agent's wishes. It is
interestingto note that this connection has proved a val[...]note the advices co - tained in your No. 313 and
are commun eating with the Council concerning the matter.
We will stress upon the Council the necessity of giving
to each of the suggestions referred to in yo letter.
shill[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (83)[...]•

No. 7 4* Re erring to your tel gram of 11th November do not
proceed with order swanskin from Hardman unless they comply
our conditions.

ring to your telegram 18th October No.427 we
have reason to think financial position of G'aunt somewhOt
strained, Please rake further confidential enquiries. Renew
Note Issue Department British Treasury Bills £80,000 maturing
during December.
Dated .1 *77.
Nc.7i6 Purch4e 4201000 by Cable Trktn6fer for our Dollar
Account with Canadian Bunk of Commerce, Va[...]£190000 as a T.T. to the
debit of this Office. Receive from Commercial Bank of
Australia Ltd. the sum of £40,000 and Ni,A1,,nal Bunk of Absitl Ltd.,
£16,000 as T.Ts. for credit of this Office.
Pked 29/1117.
No.717. ktuee[...]the
oontrol of briab&no City Council probably before end of year.
Queensland 8t4Ase Government will guarantee Brisbbne City Council
loan to meet requirements both bodies when amalgamation completed.
Iss[...]ear. Advise R.Nivison
4 Co. confidentially and request them keep matter in mind.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (84)[...]A3r
Dated 22 11 27.
4 3. Re erring to your t legriont No. 713 Head Office
credited t50 000, We have to-day debited Road Office
Z40,0004. for transfer to your Sterling Account with Barclays
Bank (1).0 •[...]ate on London
is 4.87
Dated 22 11 27 N'. 46 . Ptrure
Dated 2 1 27.
4o.470. tost Advices quote
New York sight rate on London 4.8? 11/16
Montreal " 4.86 7/8
France T.T. 12[...]89.50
Czeoho -Slovak 164
Germany (Reichmar T• 20.42
Portugal 2 7/16
Calcutta a a 1/5 3[...]Chefoo (China) 1/10 7/16

Dated ?J1lJ27
No. 47L Referring ,,to your telegram of 23rd November after
very full enquiry can ascertain nothing here to alter our
previous opinion. There is not much risk except the Red


Clause facilities and these no doubt could be reduced if you
desire its New York sight rate on London is 4.87 7/8.[...]s take
balance no announcement will be made here until. Monday.

Dated 28 11 27.
err.ing to your telegram of to-day R. Nivison %do
pleased to hear of satisfactory arrangement pendinc:. They are
bearing in mind loan requirements.
e have to-day debited Head Office Z40104.13.5 for
transfer to your Dollar Account with Canadian nk of Comnerce
Vancouver,Rate 4.87.
Referring to your telesram No. 716 Head Office debited
Z18,000 credited £56,000. New York -' iit rate on London I-
4.87 13/16.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (85)[...]Net Result Interest[...]Increase in Depositors' Credited to[...]X Decrease[...]JEW SOUTH WALES .. 227,655 2,927,034 1 17 1 194,565 2,763.125 7 163,909 3.0 1 1,389 2 6 15,565 8,705 333.578 10,724,635 2 6

VICTORIA • • • 106,162 1,478,147 iy 6 1oo,27o 1.697.527 2 4 12190379 4 10 797 11 7 6,256 4,690 169,771 5,887,411 19 5

QUEENSLAND.. 363,109 5.469,568 11 297,971 5.03o 454 17 5 439,113 3 6 2.090 19 4 17,835 11,324[...]SiTH AUSTRALIA 40 ,198 604,741 13 9 36,o77 681,365 X 76,623 6 13. 302 13 .* 2,163 1,861 63.093 2,475,867 14 11
I

WESTERN AUSTRAL[...]58.315 703,459 2 47.057 658,532 14 9 44,926 289 16 3 3,513 2,021 85,178 2,774,422 10 665,255 17 10 33.972 109 8 2 1,487 1,003 64,787 1.599,176 2

NORTHERN TERRITORY 1,318 28,327 1 66 481 8,563 19 3 19,763 1 9 171 42 1,326 65,017 10 7

PAPUA and NEW GUINEA 1,251 44.707 5 10 876 38.948 11 8 5,758 14 2[...]10 149 98 2,170 93,614 2 8

DON • 2,435 126,183 13 5 5,498 174,676 6 5 x 48,492 1 4.4 241 1 3 341 550 6,938 394,697 18 9

6.31,77611,681,397 10 6 705.1091.1,318,449 17 4 362,947 13 2 5.262 17 4 47.480 30,294 1,171,634 46,847,231 6
.111.1111[...]e certify that the above Statement, compiled from returns furnished by the several Offices of the Bank, is correct.

fr

Secretarp.[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (86)[...]ATER 5 1. 6th Decembers927
Per rine"

The Manage[...]We wrote you last on 29th ultimo, and have now
received your letters Nos. 315 to 324 dated 29th October, 1st,[...]The finalisation cart ficates forwarded with your
No. 317 have been received.

SINKING FUND MOUSES./
Co[...]IVATE _ TELEGRAPH'Oirs.
We note your advice that the copy of the Code forward ed
in July for the Bank of England has not yet been received. We think
it possible that the code book may have been addressed direct to th.
Bank of England. re shall be glad if you will have enquiries m[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (87)[...]S-La-39

YOUR LETTER OF CREDIT NO. 57 for £100 000 f o THOMAS and or[...]AN LAYCOOK a c W. C.
Copies of the reports on W.C. Gaunt have come to
hand and in view of Seyds advices we cabled you on 5th instant ,
that we preferred not to issue further credits on Gaunt s account
without security. This report of Sepia appears to bear out
the apparent unfavorable position recently indicated to us here
and which was the r ason of our cable to you of 23rd November.

YOUR LETTER OF CREDIT No. 59 f o THE AIiALGALATED FREEZING C„
VICTORIA LTD.
Copy of requisition in connection with the above
cabled Letter of Credit has been IV-calved.

PORTALS s Amp PARER. 1/
The four sheets of stamp paper have come to hand and
are being passed on to our Note Printing Branch together with
copy of Po[...]MINSTM BANK LIMITED.
e note by your No. 319 that a supply of the latest
Specimen Signature List of the above Agents has been forwarded us[...]will be attended to when the
specimen signatures come to hand.

• DEUTSCHEBANK.[...]r the advises under the above heading,
which are noted.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (88)[...]PE FROM TOiLLE.
Townsville Branch recently advised us of the issue of
their cabled eredttl when we instructed them that in future
all credits of this nature are to be established through
Brisbane Branch.[...]4945/415 e £98
Enclosures as advised in your No 322 have been
received, for which we thank you.

LONDON FUNDS FINANCES. --/
Your adviees under the above heading contained in your
No.324 are noted with interest

BANK'S PRIVATE TELEGRAPHI9 CODE - Your letter No. 311.
cr Referring to your letter of the 27th October, the
appropriation[...]duly made for use between
all Branches, who are being advised, as necessary, by Circular
Memorandum, a copy of which should reach you in. duo Course.

ROTE PRrliTIN STORES NSTONE& SON$ LTD. DEFIC Y IN OIL.
Referring to your No. 283 of 22nd September we
.referred '4 ssrs. Winstone s report to the General Manager of
the Note Printing Branch and are now in receipt of his reply


He assures us that there is no possibility, as Messrs. Winston0
suggest, of oil being taken from a barrel between the time of
delivery at the store and issue to the factory.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (89)[...]6-31

As the additional cost if steel drums were used
in place o barrels, would exceed on the average our loss in
the past through leakage, the General. Manager considers that
the present method of Shipping in barrels should be continued
and we should be glad i[...]ing consignments of Australian Notes by steamer were
made between branches during the week ended 3[...]o. Per. Anoint.
29/11/27 Melbourne Adelaide "Kanowna 4,58,000[...]27 Sydney Esperance 60,000[...]Brisbane 226,000[...]g strike, the s.s. "Ormiston" did
not proceed further than Sydney and the notes consigned to
Townsville as shown above wore brought to this Office. We[...]t, and the notes amounting to t310 000 that
were to be transhipped by that steamer to Newcastle, as advised
in our letter of 29th ultimo, will be taken to Ne[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (90)[...]-5
Sydney by the s.s. dir" on the 6th instant. The notes
that were to be transhipped from Sydney to Rockhampton by the
s.s. "Saros are still held at this Office,
Both the T[...]Ltd. of London for the supply and
delivery at our Note Printing Branch of 2,500 gallons of thin[...]with that supplied
by them in June last at 4/6d. per gallon, F.O.n. London.
The[...]rger order than usual we may obtain


a more advantageous rate.
Delivery in barrels is to be effected in equal
quarterly lots, the first to arrive in Melbourne not later than
the end of rch next.
CIV[...]A IVE SOCIE OF NEW SOUTH WAL.
Your No. 316.
We note your remarks, and you will have received
advice from our Sydney Office that the matter has been
satisfactorily adjusted.
Yours faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (91)[...]BLES iOM LONDON.

Dated 2 27.
No, 473. Referring to your telegram No. 718 Head Office
debited 02,000. New York sight rate on London is 4.67 29/32.
------1121-LL-
Datec L127-1 --[...]Debited to Commission account £17,500 refund to
Commonwealth Government Commission on last loan.
Dated 30 Ii 27.
4o. 75 . set London market quotations (after deducting
accrued interest) of the following securities arc set out
hereunder:
Commonwealth Government 5% 1945/15 £96 15 wat

N.S.W. Government 5(ii, 1945/65 97 15
Victorian Government 5% 1945/75
Queensland Government 5% 1940/60 rel 1!
S.A. Government 5% 1945[...]Sydney City Council 5''' 1939 96 10 400

Brisbane Tramway Tst. Se 1944/54 98 10
Melbourne Tramways Bd. 5 1944 94 -[...]93 5
New Zealand Govt. 1946 101 10


South African Govt.[...]ht rate on London 4.87 25/32
Montreal " n 4.87 v
Fr[...]8
Gisecho Slovakia " 164 9/16
Germany (Reichmarks) T.T." 20.42
Portugal[...]2 7/16
Calcutta " it 1/6 1/64
Shanghai # n 2[...]1/10 -Z-,
Dated 1/12/27.
kio. 476. Referring to your telegram No. 719 Head Office
debited £21,000. New York sight rate on London is 4.87 /16
Dated 2 12 27.
No. 477. Referring to your telegram of 21st November increase
estimate loss C.B.of A. General Bank Dept. to £47,000. Referring
to your telegram No. 721 Head Office debited £100[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (92)[...]lt of this Office.
27.
No.722, Referring to your letter of 3rd November No, 317
Letter of Credit No. 57 in view of reports on Gaunt we
prefer not to issuo further credits without security.
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (93)[...]—
and our Branches are being advised as necessary,

A[...]he Memorandum from the Department or
Overseas Trade regarding the Bank of Taiwan.

GABLE FINM WAVES TOWERS.


Copy of your letter to the above Branch, has been
received and we have written the Uanager t as necessary, reminding
him that all cables to London are to be despatched through the
Capital Branch.

T OF HJ. THE KING. Tour
Vie are obliged for your advices and will communicate
with you further when the autographed photo of His majesty[...]OF SYD 000 000 DEBENTURES ,91
Enclosures forwarded with your No. 330 have been
perused with interest,

LONDON F 110 & FINANCES.
We are obliged for your n mative advices under the
above heading.[...]AN STATE GOVERNMENT. /
We duly received your cable of the 5th instant,
relative to the transfer of £500,000 from your end for credit
of the South Australian State Government's account here. The

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (94)[...]-3
transaction had our approval and cabled you on receipt
of your message to that effect. For your information
we would mention that we allowed[...]f 8 9d %.

PUBLI
11 refer to our cable of the 24th August last

• transterringan amount of £2,000,000 to credit of the above
account at your Office. AS already advised the transaction
Was effected at the request of the Commonwealth Treasury, who
intimated at the time the transaction would be Vevetised in
all probability before the end of the current year; on this
understanding we agreed to Ofect the re-transfer at the
rate of 10/4 profit to the Government. They now desire
the re-transfer to take place on the 15th instant, and[...]ter the above
transfer has been effected the Treasury estimate that their
overdraft requirements in London will be in the vicinity of
£2,400,000 increasing to £3,000,000 at the beginning of the
n[...]e the final
instalment ta conneotion with the recent Commonwealth Loan
floated in London is du., the overdraft should be reduced to
approximately M 200 000. The Bostrd of Directors approved
of the above overdraft requirements and we cabled you
yesterday advising you[...]132-IRMAGENCM
Cable advice has been received from our New York

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (95)[...]quite superfluous for us to advise you
in detail rellarding the functions of the Agency as no doubt
t[...]lly dismissed with the Deputy Governor during
his recent visit to London. We would mention, however, that
although we are not permitted by the American Laws to accept
deposits at our Agency) approval has been given for the accoun
of the Australian Commissioner to be kept at our Office there.

XITSta, BUSS.0 414 LTD.
Referring to our cable of the 17th ultimo, asking
you to consult the Bank of England regarding the position of
Mitsui Bank Ltd. and Mitsu[...]n Kaisha Ltd. against Japanese
bonds and also to your reply of 17th Wein., it will be of
Interest to you to know that It has been decided to make[...]ggested for advances
against the bonds was at the request of the nager of Mitsui
Bussan Kaisha Ltd., but they are now quite agreeable to giving
US security over the wool as state[...]TS - OVERNIENT OF TASMAN A.
Referring to previous correspondence under this
heading, so that you may be au fait with the present position,
we enclose herewith copy of letter from the Tasmanian

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (96)[...]S-La-39

Treasurer of 29th ultimo, and of our reply thereto. You will
notice that we have suggested to the Treasurer that a conference
in London between legal representatives of his Government and th
Bank take place with a view to arriving at, an amicable arrange-
ment, as it is considered that recourse to Law should be avoided
We will advise you later when a reply comes to hand from the
Tasmanian Government.[...]Attat#1.4.
For your attention we are enclosi copy of letter
re lived from the above.

GOLD
.....0111.1111.101.01

BL We enclose herewith for your information copy of
letter dated 8th ultimo, received from the local agents for
the P. 4 0, Steamship 00mpany.
in replying we informed the agents that we would 114,
prepared for the time beingto let them have up to4600 000-
legal tender sovere
(
il[...]ade by the dhippers.
We presume that our reply is being referred by the
P. & 0. Company to the principals as we two not heard anything
further inthe matter.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (97)[...]Per. Ana t.
10/12/2? Melbourne Newcastle ”Burwah £42 000
Referring to our letter of 8th instant, we have to
advise that notes amounting to £63,000 consigned from Melbourne
on 26th ultimo, to Roc ton and which were held in Sydney
owing to the shipping strike were forwarded on to Rockhampton
by S.S. "SarOss w[...]hose
amounting to £83,000 consigned from Melbourne to Townsville
on 30th ultimo, and also held at this Office were forwarded an
to Townsville by 3.5. Ormiston" on 10th instant.


Yours faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (98)[...]TREASURY,[...],
onwe lth B of Aus ralia
Pitt Stree
SYDNEY* S W
Dear
I[...]nto
Anooviippommorires......400.4. mai satimini,... ups owimis. too.. opoopm..1111ramo

Adverting to previous oorrespondenee on the above
subject, and particularly to your letter to me of 20th
September lasb, my :linistera are entirely dissatisfied with
the refusal or your Board of Directors to acknowledge liability
to this State in respect of tbe al,ove, and have noederinitely
decide[...]determined in appropriate
proceedings in the }gh Court of Justice in Englanlo To this
end, the Agent General for Tasmania has now been requested to
instruct the Governmentts legal advisers in Lendon to take
immediate steps for enforcing ainst your Bank the claim which
our Counsel have already advise"). to be well founded, and of the
justice of which your board's offer of 3rd August concerning
future payments must be reeoarded as a tacit admission.
With reference to your remarks in aar oarlier
correspondence comerning the cost of eonductiac the London
Registry, I may remind you that that matter is the subject of
a definite agreement, and apart fr.= the present controversy
can only express regret that :le Bank's decision
to refuse to account to the Government for profits made since
the inception of the agency in respect of proportions of stock
holders' Interest withheld by the Bank and oubsequent nt
to the Imperial Inland Revenue authorities, and which profits
I advised[...]ven the
Government no alternative but to seek its remedy in the Lax
Courts.

S do[...]Tre nrero

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (99)[...]39

iv/
CREDIT LYONNAIS
FONDE EN 1803
SOC[...]CAPITAL 250 MILLIONS DE FRA,,OS
ENTIEREMENT VERSE
,., A[...]OAP
ADRESSE TELEGR PHIQUE
,[...]We beg to place our services at your disposal
for your banking transactions With Spain[...]country for over
fifty years , our experience enables us to execute in the[...]st efficient manner any orders you may entrust to our car
We have a[...]would he pleased to see you make use of same for your
or your clientscommercial transactions throughout Spain[...]Awaiting to hear favourably from you we remain
dear Sirs[...]Your faithfully e[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (100)[...]from the Commonwealth
Bank on behalf of the enquirer, Australian sovereigns at 1.Jur in
exchange for AustrLaian money, but the Value of thc puroh-ses is
not given. Our client enumerates certain other enquiries under
these headings which we give below :
(1) Weshould require shipment of such sovereigns to be
made from Fremantle, and ye should Lot wish youto
pay the Commonwealth Bank for the sovereigns until
the date the carrying vessel left Fremantle.
Could this be arri.Jiged?[...]he Commonwealth Ban- in
Sydney or in Fremantle?
Would the Commonwealth Bank eke any charges for
placing the sovereigns on board vermel at Yremantle
or would our payment to them IA,i_pskr include all
costs of actually putting the sovereignc. on board.
7:e shall be much oblige[...]e quectionn ,,bov.e, in order that we nay mply
to our client.
We have the hono[...]Si
Your obedient
Fo[...]Coixtonweulth Bank of Australia,
Street & Martin Dittoe,
SYDNEY.
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (101)[...]ed iLl /27.
No.479. ,uor prices. Cubas 7.96 polarisation 12/) n,mtnnl
AmPrien granulPted 15/6, CanFAlan grf-muld 14/60 Javn
Jbril average 17 tel guel 13/2k, Czcho-[...]ew Yor: sir,ht rtc on London
Montreal IN U[...]Czech° Slovakia T/T 1641
Germany Cr.eIchmrr'e- s ft if[...]2-7/16d.
Calcutta ft of ft
1/6-1/15
tf[...]2/7t
Cher6o (China) ft U ft
1/10-9/16

No. Referring to your teleFram of t asuming interest
gusranteea by TPsutrnt-n tate ovrrnmrn before R. Nivison R Co.
could icue at the l'.;ginring of J-nw;ry f1000000 LrAinceston 0. Rends
e, 1st July 1953 at not less thi,n 99.[...]is 4.88-11/32.
/12,./7,
N o. ReferrinF to your t€1e-gra. 7, H;A Offic[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (102)[...]wrote you last on 13th instant, and have
now received your letters Hos. 333 to 351, of various dates
bet[...]WITYAT BOARD.

EY. Referring to our letter of the 29th ultimo, we
have to intimat[...]hip
about 100 000 tons of wheat during the durrent season, and we have
told Toowoomba Branch t[...]o you for collect on.
On receipt of any proceeds of collections or any ,
balances of shipments covered by . k,.Ns. please credit us ir
account under cable advice, u[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (103)[...]Exchange on the T.T. transactions will, of course, be
adjusted at this end.

MIDLAND BANK LTD.
LC. Mr, J.F. Darling, a Director of the above Institution,
recently called on us and discussed the question of[...]nd Bank, as the other members of
the "Big Five" already appear on the Falance Sheet as our London
Bankers.
Er. Darling also menti[...]on of Agency
Arrangements could he discussed with our London Manager.
Darling has, therefore, written to Mr. Hyde suggestin: he should
discuss the matter with you.
We are aware that in the past the Midland Bank hare not
been anxious t avail themselves of the facilities offered by
us in Australia, however, we think that 4rrahgements to our
mutual benefit might be made and shall be gl4if y[...]s necessary, wider advice to us.
With regard to the question of opening an account
with the Midland Bank, ire tahe matter in your hands øi
to[...]s
forwarded to us the enclosed cutting from a Melbourne newspaper
of the 9th instant depictin7 t[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (104)[...]ails of this new
method and suggests that the required inormation could he obtained
either,tram the Secretary to the Imperial Treasury or from the
Bank of Eft land.[...]e the matter up with
these authorities with a view to ascertaining the nature and the
value of the test.

1,07flON FTTUDS & FINANCES.
The advices contained in your No. 332 of 10th ultimo,
have been noted with[...]if the statement of London Funds forwarded with your usual weekly
letter also set out the rate of Interest being received on our
balances with London bankers, and we should be glad if you would
arrange accordingly in future.
INSURANCE ON AUSTRALIAN 1 14[...]g consigazlients of Australian Notes by steamer were made
between branches during the week ended 1[...]"Zealf,ndia" £50,000
( 1;elbourne Newcastle "Canberra" 60,000
(Transhipment made at. Syd[...](Transhipment
16/12/27)
4/12/27 Mel bou14nè B[...]ydney 36,000
17/12/27 1,1elbourne Sydney "Kanowne 472,000[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (105)[...]E CITY GOUNC
Following on our Uo. 5',0 of the 4,9th ultimo, we have now
been ad[...]you on the 17th instant. We also 'cabled you
on 16thstint an enquiry as t a the conditions and date[...]overnment
could be placed for the Council and we are now awaitin, your
reply.

. -' a'0LITAN W.717,7_) cl.IPPLY 4.,.;[...].tics
in London for sinkin fund purposes and duly received your re.1214
to the effect that you could dbtain 6 750 at 93 and could
possibly purchase more at a higher price. This information
has been passed on to the Board and we shall cable you
immediately we receive adv ee of their decision.

CORR E[...]AN DISCOUNT K.
The adv ces in your lett 334 have been no[...]of their draf form and
lists of authoA.sed signatures will be received in due course.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (106)[...]TD.
LC We thank you for the advices in your No. regarding
the Buenos Aires Branch of the above institution.
Our records have been amended accordingly.

BANK OF LIVERPOOL & - TINS LTD. - Your 110. 340.
Le The arrangements made with the above Bank have been
recorded and the sets of control documents forwarded to our
Branches mentioned.
We note that you also offered them the facilities at
all of our Capital Branches, and approve of your action in
agreeing to the arrangements covering Sydney, Lelbourne and
Canberra only.

TT nUE DE )2.:72.U.' CS' DE SIBE IE -, Your No. 340. •--**


LC We have deleted the name of the above Institution
from our records.

STR BMW OF BAR-" BALANCE SHEETS./
LC With reference to your letter No, 340 0 it has beeL_
our practice to forward Balance Sheets to all of our Forei_
Agents, but in view of your advices this practice will be dis-
continued,[...]he
December 1927 Balance Sheets to Agents to your Offi6e, meanwhile


we are preparing a complete Balance Sheet mailin list, Which[...]e and shall be 31ad if
you will dolete all addresses which are covered by your Office

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (107)[...]S-La-39

and return the list to us as soon as possible.

STAFF S.C. 2A5LIII.

We note the advices in your No. 337 that it was not
possible for Er. Laslin to dispose of his house before he left
for New York. The advance against thi[...]sale cannot be effected.

LOAi:S TO 17,ARKET Your,p9. 338. V
List of securities as a[...]PORTRAIr .L. THE K

Parcel receipt and other documents as mentioned in your
No.339 in connection with the signed photograph of His Lajesty have
been received, and arranL:ements are in train to take delivery of


the package On arrival of the "Moreton Bay."

ADV ILAS." - Your No. 341.
if
Duplicate receipt for .600- is to hand for which we thank
you. •

ANDREW WALLA-

We note from your letter No. 342 that application by
Mr. Fisher foT appointment .to our service has been withdrawn.

DOQUMENTAY V/OOL ,,REDITS - Your No.348.. ./


Your No. 65 for Z100 000 f o MITEAVJSHI 3E0J1 4A7sHA LTD.

acipy of requisition for the above credit has duly come. •
to hand.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (108)[...]LO
Dated 1312
1o.4134. Reerring to your te1erai No.726 Head Office debited
£39.,0000 Referring to your t leGram Nos727 Head Office debited
£57,00[...]lc 4.38.
No. lipr*, e,k fiures.
Dt4ed 14/1q/2.7.
113,456. r4eferring to our telegram of 17th November further
conversion applications since received £250., 5i0 £100 4.
If you approve credit Victorian Treasury £93,750 and debit
this Office in account. Referring to your telegram 10.728
Head Office debited £[...]New York sight rate on don 4.08 5/16
ft
Montreal 4.88
S[...]1
Czech° -31ovakia 164 15-
Gernany (Reichmarks) T. T.1ft 20.13
Portugal[...]chef 00 na) 1/10 o/16
d 14 12 7.
Uo. 7. Learn confident[...]day.
Dated 15
o.88. to your telernr- 1o.724 Lead Office credited
2,000,000.
Latest ondon :.arket quotations (after deducting accrued
interest) of the followbr securities are set out hereunder.
Oommonwalth Government[...]N.3.-!. Government 1945/65 £97 5
Victorian Govt.[...]queensiand rn ent 1940/60 £97 10 Oat

3*A. Governm[...]7L 1944/54 £(38 10 410

Melbour6 £101 10
3. African Goverment r id 1945/75 £100 10 410

Referring to your telerram of to-day retropolitan Vatter Supply
Sewerageioard (3ris we could o tain £6,750 at 937, and altho

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (109)[...]r it. York i(rht rate on
London is 4.
ated 16 12 27
No. Ve ave today debited toad Office ' 120.19.8 for
transfer to your Dollar account with Canadian Dank of Commerce,
San Francisco, rate 4. -3/16, 7;e have to-day debited Head
Office Z51,209.16.8 for transfer to your Dollar Account with
National City "ank of New York, Now York, rate 4.88-3/16.
eferring to your telegram of to-day, Brisbane 3ity Council, will
t[...]cwt. f.o.b, other p
nominal
Cubas 11.96,„; polarisation 12/9
nominal
American Granulated 16/6
Canadian Granulated 10/6
Czecho-S1ov317 granulated[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (110)[...]ated 15 12 27.
O. r erring to your to1erarn of 14th December, Victorian
%tat[...]Printing Br 1' C I I to our
of 2.'ith July,pi. ObfRin w!cicn[...],000 yards 21'irchcc nriiS stimn1,:: In your oossssion
auvsIng•,(Alls[...]Account with f,.. ..,:;13.11,,,7cY of'Cotme.re,.,,
Ea Francisco. Purctis 250,CCO by cabl‘-'; transfr for our
Dollar Pecc)unt =4[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (111)[...]S-La-39

SEC • RE[...]N.
The advices contained in your No.350 are noted
and have been passed on to Hobart Branch for the information" of
the Messrs. Simmons. Apparently Mr. Hamilton still refused
to sign the transfer in favor of Matthew Wil[...]dward Simmons only.
Yours fait
Your[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (112)[...]e!-xiovil pt Gir your let er m.07 tGt
ft' rt pleteeti be.* Z vtive of


Director* or thts 11,41:0
I an autho[...]your re to Londor
" 3o1 tat tore Inc/Idea barri as the list r have m1rert4„
in eon•tion with[...]at/lige
Yours atthr

•[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (113)[...]Y.

TREASURY
HOBART, 16th December,

The Governor,
Commonwealth Bank of Australia,
Pitt Street,
DNEY N.S.

• Dear Sir,
Interest earned on moneys deducted by[...]smanian Government.

am in receipt or your letter of the 9th instant
the contents of which are noted.
Regarding the matter in issue between my Government
and your Board the subject of our recent correspondence, I may remind
you that your Board's refusal to account to the State for interest
earned under the above head since the incep[...]the matter tested in the appropriate
English Court. without prejudice, however, I am prepared to agree to
your suggestion for an immediate conference between the London
solicitors of both part[...]orily arrange the
matter the dispute is to be referred for final determination to a
barrister to be mutually agreed upon by our respective solicitors*
that the entire costs of such reference as between solicitor and
client are to be borne by the party those contention in effect fails;
and that your Board will cause to be honoured the settlement, or
decision on reference, if unfavourable to the Bank.
Pending receipt of your reply the Agent General, -Pho
has already received full instructions to have proceedings at lay',
instituted, will be recuested by cable to defer further reference
of the matter to our London legal advisers ror action.


Yours f-ithfully ,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (114)[...]AUSTRALIAN HOMEWARD BILL OF LADING, 1927. NON-REFRIGERATED CARGO.[...]FREIGHT PAYABLE: AT PORT OF SHIPMENT

Australian[...]in apparent good order .n b[...]RX-T1- 311---8/1,17ER COIN VALTIZ,DECIARED to contain[...]BALES GREASY WOOL.[...]--ADDRE881CDT --[...]BALES SCOURED Vv- OOI
SEVEN B0X38, IRON BOUND, SIC[...]ii011,1-3f,ti -Itt)11
Coin value declared at 42,000[...]FLOUR.

ADDRASIED:.[...]marked and numbered as per margin (measurement, weight, quantity, brand, contents, conditi quality and value as declared by the Shipper but unknown to the[...]Carrier) and lo be gelivered, subjegt to the Atieflit[...]' iosti4arms an rovisions hereinafter men ned, in he like good order • d condi[...]1,,) her berth or Atehoir‘ Y,,:.ikTliere the Cartieri' ",- sibility sh at the Por[...]hereunder ireko as she may safely get) unto[...]"0 11 Freight for the said gookbOAUU % prim[...]----------per lb. for greasy wool,[...]per lb. for washed and scoured wool,[...]pment at port of loading, on gross weight or measurement as per margin, in British sterling, without d[...]lost or not lost. If freight is not so paid at port of shipment, payment s[...]port of discharge for optional cargo must be declared to the vessel's agents at the first of the abovenamed ports at which the vessel discharges 48 hours
• 1) before the vessel's arrival there, or failing such declaration the Carrier may elec[...]0 IT IS HEREBY MUTUALLY AGREED as follows:-[...]arriage of Goods Act, others under their respective contracts with the Line. If, owing to str[...]1924, and the Schedule thereto are to apply to the contract contained in this Bill of Lading, labour disturbances at port of transhipment or at port o[...]tained in such Act and the Schedule thereto as if the same were herein specifically set out. transhipment beyond the period which would elapse before transhipment in normal circum-[...]If anything herein contained be inconsistent with the said Act and[...]extent of such inconsistency and no further, be null and void.[...]Nothing herein contained shall prevent the Carrier from claiming in the Courts of any 5. Every piece or package must be distinctly, correctly and permanently marked by the[...]protection or limitation of Shipper before shipment with a mark and number or address and (in letters not less than[...]s the country in which the goods were shipped.[...]package weighing over two tons gross must be declared in writing before shipment.[...]or liability whatsoever owing directly or indirectly to the failure of the Shipper to mark[...]such above-mentioned vessel under Clause 3 (d) hereof, even the goods or make the declaration as aforesaid or to the incorrect or insufficient descrip-[...]requirements at the port of loading or discharge, the Shi[...]servants or other persons for whom the Carrier is responsible, and the goods prior to[...]loading and/or subsequent to discharge as aforesaid are at the sole risk of the owners of the goods shall be responsible therefor, and shall indemnify the Carrier in respect thereof.[...]roceed with passengers and/or cargo from one or more[...]The Carrier will not be responsible for delivery to counter marks, submarks,[...]e Mediterranean and/or Con- 6. The f r eight v a ya bl e as above has been calc[...]tinent of Europe and/or Great Britain and/or Ireland by any route between such ports of goods declared by the Shipper to the Carrier. The Carrier shall be entitled to re-weigh
a. at departure and discharge and whatever route be followed it is not always practicable in pro- or re-measure any goods, and freight shall be paid on the excess weight or measurement.[...](if any) so ascertained. The expense incident to re-weighing or re-measuring shall be borne[...]by the Carrier if the weights or measurements as furnished by the Shipper are found to be
agreed that the vessel has liberty for the purpose of embarking and/or disembarking pas- correct, but otherwise such expenses shall be borne and[...]of the goods. If the description or (in cases where the value has been stated) the value[...]stated by the Shipper, double the amount of such freight shall[...]beyond the customary or advertised route, and to return to any such port or ports be paid[...]port or ports of departure to the port or ports of discharge and in followin[...]mending, baling, repacking, cooperage and repairs to packages, boxes, crates, wrappers,[...]and/or Continent of Europe bags or barrels resulting from insufficiency of packing or from exce[...]4) 7; and/or Great Britain and/or Ireland in any order backwards or forwards and even though If freight be not paid within seven days of the vessel's[...]and/or disembarking passengers interest at the rate of 6 per cent, per annum shall become due and payable thereon by the[...], Consignee or I d' see or the Bill of Lading, or Receiver of the goods. The[...]! VI age, charges (including additional freight or double freight
the present voyage.[...]ed by any route and change the intended route before the com- and/or exp. is e 6 payable on corrected weight or measurement, and additional[...]10 per ce d primage not prepaid at port of shipment), demurrage, damages[...]port of loading or call, and may put into and remain at any port or ports for fuel or supplies[...]all payments made and liabilities incurred in respect of charges,[...]out cargo on board, or for adjusting compasses or repairing, or[...]2eg Master or Agents render this advisable, and all such ports, places, s[...].1'any) payable which under this Bill of Lading are to be borne and paid by[...]pa shall be included within the present voyage.[...]. Consignee or Indorsee of the Bill of Lading, or Receiver of the goods. If[...]t vessels in all situations, and may dry-dock before or after the loading or[...]Carrier shall be entitled to recover the difference from the Shipper, Consignee and/or the[...]from the vessel's rail immediately the vessel is ready to discharge, berthed or not berthed,[...]whatsoever, which are by clause 3 (a) hereof declared to be in • the present voyage, the contrary. The Carrier shall b[...]s or places of pa' Goods in course Sundays and Holidays included, all extra expe[...]o of transhipment may be placed or stored in craft or asl a • .ipped qr forwarded or Receiver of the goods, and the Carrier shall be unde[...]returned by sea and/or inland waterways and/or land[...]discharge or final destination any written request in the margin hereof or otherwise. If the Consignee or Holder of the[...]k of the goods shipped hereunder, or if the entering (If scharging (or continuance of dis- Bill of Lading requires delivery before or after usual hours he shall pay any extra expense[...]ikely to be delayed by blockade. incurred in consequence. If the Consignee or Holder of th[...]interdict, quarantine, strikes, lock-outs, labour t ubles (whether the Carrier or his servants delivery of the said goods at the time and rate aforesaid, the Carrier shall have liberty to[...]are parties thereto or not), civil comnsotioris, riot. , war, epidemic, fever, or other illness, discharge and store the goods afloat or ashore at the expense and risk of the Owner of[...]ct to the Carrier's liens mentioned in Clause 8 hereof ; if the Carrier[...]be considered by the Master (whose decision shall be absolute[...]"6 .E there or at any subsequent port, then the goods may be landed or put into lighters there[...]demand demurrage at the rate of 6d. per gross register ton per day or portion of a day[...]sk of the Owners of the goods ; and the Carrier's responsibility shall cease at the rier[...]Pi vessel's rail when the goods are so discharged, the Master or Agents giving immediate landing, overside and/or reception charges, including lighterage if any and a[...]the Owner Customs, Consular or other regulations not being complied with, or to Customs p[...]shall bear and pay all charges and expenses incurred in consequence of such and/or other necessary papers not being lodged within twenty-four hours after vessel's[...]goods entry at the Customs, or when required, will be charged to the Consignee and/or Owner o[...]e Carrier, and the Carrier shall be at liberty to return[...]Cargo on deck and livestock are received, kept, loaded, carried and discharged at Sh[...]r of the goods, who shall pay in either case the freight and/or forward-[...]k and the Carrier shall not be liable for loss thereof or damage thereto even though ing expenses thereon. Specie deliverable in London will be landed at[...]resulting from unseaworthiness of the vessel or from[...]arrier is to cease as soon as the specie is delivered from the vessel's deck.[...]- The goods (other than refrigerated cargo which shall be stowed in insulate[...]the event of quarantine the Carrier shall not be responsible for loss, damage or[...]may be stowed in poop, forecastle, deck house, shelter deck, passenger space,[...]delay arising from or consequent upon quarantine regulations whatsoever or wheresoever
ba covered-in space commonly used in the trade for the carriage of goods, and unless stated[...]l purposes (including general as required for the vessel's despatch, and all expenses of complying with such regulations[...]of the Act and Schedule men- as regards the goods comprised in this Bill of Lading,[...]ss tioned in Clause 1 hereof and of this Bill of Lading shall apply thereto. on the goods of whatsoever nature or kind shall be borne by the Owner of the goods.[...]or the insulated or other space on this vessel is requisitioned or controlled by or Agents of the vessel and the expense thereof is to be paid by the Receivers and Con-[...]his or their uncontrolled discretion he or they think it advisable) at any time before or ing an Agent on behalf of the Consignees to land and receive the goods, the Consignee paying[...]tised or agreed or customary route, and/or delay or detain the[...]all charges in connection with the landing and reception and the goods shall be received in[...]regulations to the contrary notwithstanding.[...]for loss or damage directly or indirectly sustained. In addition to any liberties expressed or The Carrier and his Agents s[...]0. or directions as to departure, arrival, routes, ports of call, stoppages, trans[...]thereof or of any person acting or purporting to act with the authority of any Government respect of any one package or unit unless the value thereof shall have been stated in[...]cs) or any Department thereof, or by any War Risk Insurance Association worki[...]on the Broker's Order, which must be obtained before shipment, and on the[...]Government scheme in which the vessel may be entered, and nothing done or not done Shipping Note presented on Shipment, and extra freight agreed upon and paid, and Bills of[...]under such orders or directions shall be deemed a deviation. The vessel is free to carry Lading signed with a declaration of the nature and value of the goods appearing thereon.[...]contraband, explosives, munitions or warlike stores, and may sail armed or unarmed. When the value is declared and extra freight agreed as aforesaid, the Carrier's liability[...]4. Where the Port for which the goods are destined is a port at which the vessel does[...]rier may discharge and tranship or land and/or store (either ashore or In the event of the[...]d/or by the vessel, all claims in respect of such loss or damage shall be deemed to be[...]but at Shipper's risk in all respects. On discharge from the vessel at such port of trans- charge within three days after such goods were or should have been discharged from the[...]shipment, the Carrier's responsibility shall cease, and neither he nor the v[...]l, or in the case of transhipment cargo, within three days after such goods were or[...]after such discharge, or while the goods are not in the actual custody of the Carrier or of[...]his servants. In respect of the carriage of goods from such port of transhipment to the ments shall be prepared at such port as shall be selected by the Carrier[...]ing goods and any special charges thereon shall, if required, be paid to the Carrier or his[...]the expenses of such operations but incurring no responsibility as Carrier or Custodian of Agents previously to the delivery of the goods. Should salvage services be rendered to the[...]loss, damage or detention, howsoever caused ; in respect of cargo by any other vessel or vessels belonging wholly or in part to or chartered by the[...]them beyond the port of been rendered by a vessel or vessels entirely the property of different ownerships or Lines.[...]and/or inland waterways and/or land) or of any warehouseman. lighterman or Englan[...]IN WITNESS whereof the Master, Purser or duly authorised Agent of[...]h bein accomplished, the others to stand void. If required by the Carrier or his Agents, one of the Bills o[...]Printed and Sold by Smith & Lane, 15 Bridge Street, Sydney. fully endorsed, in[...]rareassia NMI 1,4441 44111410)000611111111101114 00.4410404110411404041,4.0, ,

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (115)[...]ng consignments of Australian No;tes by steamer were
made bets en branches dur nt, the week ended 24t[...]Amount.
19/12/27 Melbourne Launceston f Loongana" X30,[...]Darwin "Ilalabar" 63,000
Brisbane "Loreton Bay" 235,000
Ade[...]OF £10 J.
BL. Referring to our No.533 of 13th instant, the Council
accepted the offer set out in your cable No.482 and on the
20th instant, we cabled y[...]on in the prospectus.

We are enclosing herewith letter under tho seal-of the
Council authorising the Bank to arrange the flotation also three
copies of the Acts under which the loan is being s ued (No.16 of
1925 and No.76 of 1926), and certified copy of the Tasmanian
Government[...],
interest on the loan.

Regarding the disposal of the loan proceeds the

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (116)[...]LONDON

Dated 20/12/27.
o. 73. eferring to your telegram of 9th December 482
Launceston Cite acce[...]iately
letter fro the Government guaranteeing interest is recived.
Particulars for insertion in the prospectus as follows:
Issue under Act 16 1925 76 1926 purpose same as last loan
except delete water ins[...]Capital
value £2,174,428. annual value 073,811 present rate including
Tramway 3d. is 4/6d. in E. Revenue year ended June, 1927
2222,472 Expenditure £211,092 total debt 30th June, 1927
£749,826 annual sinking fund £101500 accumulation 30th June
£166,613 Reserve Fund £56,427 other particulars same as last
prospectus.[...]from Sex and Nance."

attl_111_11L14
No. 734. Referring to your telegram of 15 t December No. 488
Metropolitan Water Supply and Sewerage Board (Bris.) please
purchase E6,750 Board securities at £93.5.4 and any further
amounts available at par or under total purchase price not to
exceed £20,000. Debit Board current account your office over-
draft approved Interest 6%. No purchase to be made after 27th
December on[...]l payments under
telegraphic advice including interest on overdraft.

Dated 23/12127.
No. 735. Please lodge order Portals Ltd. for further supplies
watermarked paper of present size as follows:- 10/- 2500 reams
tl- 5,000 reams £5- 700 reams delivery about MAY, 1928. Renew
Note Issue Department Hritish Treasury Bilis £1,420,000 maturing
during January.
Referring to our teiepram of 20th December No. 733 City of
Launcei[...]December Government has
approved guarantee of interest.
Referring to your telegram of 16th Pecember No. 489 Brisbane
City Council we await your further advices.

Dated 2 1227.
No. 73 9eferring to your telegram of 23rd Dece(f,ber do not
purchase furtner Metropolitan CraterSupply and Sewerage[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (117)[...]York eight rat* on on 4 88 5/16
ntresi 4 89[...]Osecho ovakia T.1%14 164.68
Normany Reichmarks)[...]rtugal 2 7 16
Calcutta 1/6 3 64
2/6 7/8[...]80,000 held on account of
Note tam Department matured to-day. Head Office credited
£763.18.8 representin3 difference between Face Value and Co t
Balance of proceeds credited to Note Issue Department Special
Account.[...]for the Note Issue De rtment
British Government Treasury Bills as follows:
Face value.[...]Date 2nd ac,
Rate of Discount £4.6.6N pia
Referring to your telezram of 16th December Carus tender 2:1-A0
per yard less 2 di[...]omplete
10 weeks. Two other quotes much. higher - Reply as soon as
possible. New York sight rate on London in 4.83 5/16.
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (118)[...]GliAGEL,-- TEMPOhAil ADVANCE.
Referring to your letter No. 352 dated the
18th November, Mrs.[...]00 worth of 50 1943
Stock inscribec at Sydney Registry and the Bank's lien has
been recorded at £7,000, the amount of the signed transfer
which you hold. In view of this we confirm your action in
granting temporary accommodation up to £6,000, but it was
risky to advance against an Official 'Receipt as no value is
placed on these documents and Stock can be transferred without
them. A cabled encuiry should have[...]proper security over Stock unless it is transferred into the
Bank's name and registered, but in this case as advances are
to be only temporary the present arrangement may stand l —but
if repayment is not in sight by the time these advices are
received, we consider that the transfer which you hold should
be sent to us for registration.

Yours faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (119)[...]rd tianuar y 1928

TTER NO.541*
P Itoldav a[...]you Last on 28th instant, and have now
roc ived your letters Nos.361 to 368 dated 25th and 29th Novembe2
and 1st December 1[...]ON AUSTRALIAN NOTES.,//
Referring to aur letter of 28th ultimo we have to
advise that owing to industrial trouble the s. s. "Moreton Bay"
is not proceeding further than Sydney, and that the £235,000 in
notes that was despatched from Melbourne on 24th ultimo by that
steamer will be forwarde[...]Sydney on January 7th. rn the meantime the notes
are being held in safe custody at this Offiee.
There wa e no consignments of notes by steamer
b[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (120)[...]DILIOBBRI 927 .
Enciosures as advised ta your No. 59 have coin to hand
and have been passed on to our Brisbane Branch with the
necessary instructions to remit proceeds by T.T. for payment
to the Westminster Bank L d. Coupon Department, Lombard Stre

OREAL 111 OF AUSTRALIA 5 1 CASH AND CO VERSION WAS.[...]ette O. Coleman
for Z100- has come to hand and is receiving the necessary
attention,

OrWEALTH "Run POOL.
ACN BY FREE .
The advioes contained In your No.354 are noted. We
have advised the Prime Minister's Depar[...]W thank you for the advises contained in your cable
dated 23rd ultimo, regarding the conversion rights which the
British Governmant is offering to holders of 5j Treasury
Bonds ..aturing on 1st September 1928.
The offer does not however suit us at Tresent and
we according y cabled you to that effect[...]NT - LOAN WAGE
BL We do not appear to have received the usual half-
yearly statement of Inscribed Stock and Bearer Securities

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (121)[...]-
b your ch aro t 50th tuns last. P ea ad- e.[...]d con rol documents to Branches
upon receipt of same.

2....bg122.0g1,1133EALIVALIMUIR.
We reoeiVe numerous requests for drafts on Lublin.
Pol and con[...]u will take up the
matter with a suitable ank represented in that City, and if
possible make arrangements whereby our tal. Branches may have
drawing facilities thereon.

RI P00 CI T:NG CO
Enclosuress advised in your No.363 have been
received

Worring to yo No0363 you ill s nee have receive
our No. of 13th ultimo advising under the headine[...]ank you for the advices in your 10.364 which ha

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (122)[...]the sun of 63 ,000
Bank of New South 17.a1es[...]e.
Dated 2812 ft,
rring to your telegram of 23rd Doe mber National
V Bonds[...]e Department we do not


wish to convert* Referring to your telesram of 2nd December
aocept Carus tender[...]calico,
Dated LW27.
No.739. errinG to our telegram of 8th November credit in
account Head Office further £500,000 proceeds Sydney City Council
io[...]0 an T.Ts to the debit of this Office.
Receive from Commercial Bank of Australia Ltd. the
sum of £63,000 as a T.T. for credit of this Qffice. Referring to
our letter of 21st November 524 before close of half-year credit
Profit and Loss with actual cost of conduc[...]istry plus 2%. Debit suspense account pending
reimbursement from Commonwealth Government.

4. R ferring to your telegram of 29th Do omb r £800 does
not appear correct in view of provlous advines Should not
mount be '13006Q
Dated
0.74 • Intor41ct orodt[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (123)[...]ustralia r eeiv-
ed cable that Loan Council were prepared to issue in New York
in the name of Commonwe[...]me of south Australia for £2,5000000. After conference at
Australia House he is replying as follows - Quotation begins"issue
of'[...]flux of
£1,500,000 gold from New York have strengthened gilt edged stock.
The list of British Loan cioses on or before January 4th for cash
and January 11th for con[...]son CO.
anticipate no difficulty issuing our Loan £2,500,000. If loan
issued to-day price would be £97.10.- but might be higher' if
market improves. Present market price 925/8 please telegraph


reel "quotation ends. If decided to issue in London would be
put out about 20th January and would take precedence over Brisbane
with Launceston subsequently. Referring to your telegram of
to-day Brisbane City Council R. Nivison & Coy awaited British
Government Loan before answering. They presume you will induce
Brisbane to hold back mea[...]ose
by doing so.
Dated 23/12/27
'o .496. C.B. of A. Note :ssue Department Government announce
issue of 5% Treasury Bonds 1933/35 at 101. Holders of 5$ National[...]oan on basis £117- consolidated loan for £100- Treas-
ury Bonds if exorcised between 16th July to 31st July next and
on basis £114.10.- consolidated loan if exercised between 16th
January and 31st January 1929 list closes 1[...]Do'Tou
wish us convert holdings £400,000. Referring to your telegram
of 21st December, Metropolitan Water[...]50 stock at 93* and debited Head
Office £1,916.19.-. No other stock obtainable at present London
Stock exchange closed till 28th December shall we endeavour to
obtain balance of stock after the holidays[...]ight rate
on London is 4.88 11/32. Christmas greetings from self and Staff.
Dat d 28 12 7
N04, 497 'Pe 1y figur9s.
Dated 28/12/27.
to. 98. Rel'erring to your tele, ram No .7 Head office
debited £289,000[...]New York sight rate on London 4.38 5/16
Montreal 4.89
F[...]Czeeho-Slovakia T.T. " 164

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (124)[...]S-La-39

Germany Re chmarks) T. T , rate on London 20.43
Portugal " 2 7/16
Calcutta 0
" 1/6 3/32
Shanghai "[...]0 " 1/10-1 ?
Dated 2
No. 99. Referring to your telegram No.739 Head Office credited
£3000000 Sydney City Council funds - Referring to your telegram
No.739 Head Office debited £64,000 credited £63,000. Commonwealth
Registry we have credited profit and loss £800- reservation as
instructed. We have to-day credited Head Office £201135.-.9
representing interest allowed on Note Issue Deprtment "Special
Account" for the current quarter.
Balahce of Note Issue Department[...]s 4.88 ,7T.
Dated 30 2 7.
No. 00. atest London Market quotations (af
after deducting accrued
interest) of the fonno=# ing securities are set our hereunder:-
Commonwittalth Government 5% 1945/75 498
N.S.W. Government 5% 1945/65 97 -
Victorian Government 5%[...]ISM

Queensland Government 5% 1940/60 97 15
S.A. Government 5[...]amway Trust 5. 1944/54 98 5
Melbourne Tramways Bd. 5-0 1944 93 10[...]5% 1949 93 10
New Zealand rIlirernment 5% 1946 101 10
South African Government 5.4 1945/75 101 5
Referring to your telegram of to-day we debited Commonwealth Govern-
ment £4,180.7.4 charge to 30th November £800 now reserved for
December. New York etint, rate on London is 4.88i.

No. 50r.----Ralf-yearly figures.
Dated 2/1/?8.
No. 502. P. & 0. Banking Corporation enquire if you are prepared
to entertain sale of sovereigns to Colombo at a discount of I%
payment date of shipment Fremantle alternatively your terms.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (125)[...]inal
American granulated 16/6
Canadian Granulated 16/6
Java whites 13/6
Java average 17 tel quel 12/6
Czecho-Slovak granulated 16/-
all January delivery.


New York sight rate on London Is 4.88 3/16.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (126)[...]10th January1928.

LETTER NO.
1r[...]ou last on 3rd instant, and have
now received your letters Nos. 369 to 374 inclusive, dated 6th
and 8th December 1927.[...]BL
Referring to our No. 534 of the 20th ultimo
we duly received your sable No. 495 from which it appears likely[...]about the end of January. For your information we have to
advise that we have *greed to meet the Council's requirements
for this month by way of overdraft and we presume you will advis
us by cable as so[...]visons. We cabled you in this connection on the 6th instant
/[...]ER. For your attention we enclose herewith copy of
a letter dated 9t[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (127)[...]unt of the
ER.
above, and have drawn on your Cramp for the =mit. Renewal
receipt is enclosed herewith.
Please advise Mr. Love that the premium has been
slightly increased, the usual 10% Bonus having been discontinue


NEELLIMAILITIO2halg22REZ/
ER
Please amend the meaning of the oode word OCT"
to read:
"Advise and pay £25- to Mrs. Isabella
"Owendoline Bourne Orford, Tasmania."
N
SURANC N AUST[...]ing consignments of Australian Notes by steamer were
made between branches dur the week ended 7th January, 19281
Date. From. To. Per. Amount.
4/1/28 Melbourne Adelaide aroo a £85[...]Z1 641 000

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (128)[...]held up at Sydney and the notes despatched tram 1bourne by
that boat on 4th instant, have been bra[...]ther with those amounting to
£235,000 that were to have been forwarded on to Brisbane from
Sy[...]on 7th instant will be sent on


to the respective branches by the earliest available steame[...]We thank you for the advisees contained in your 110.369
and note your remarks.
Regarding your comments on the new system of management
ehar[...]mention that what we may lose in London we
more than make up for in Australia.


AGENTS & CORRE0P01
BANCA COMMERCIALE ITALIANA FRANCE S.A.
LARall22AMPI LE DE BALE. ) Your No.370.
The advisees under these headings are noted and the
necessary record has been made.

ATIONAL BANK OF THE R.PUBLIC T LAKE CITY./
in view of your adviees the name of this Bank has been
deleted from our list of xtents.

LO1DON IIMET ('.IJOTATIONS G[...]S.,/

• We thank you for the list of market prices of
Government Securities fowarded with your No. 371.
k

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (129)[...]We thank you for the information embodied ln your
No. 71 which is noted.

MIST IAN ER um. Your No. 373.
Idyl° regarding the account of the above
Co pany are noted.

• LONDON F I IDS &
The comments embodll ed in your N4
read with inte est.[...]F 500 000.
Sec. Since writing the previous paragraph under the
above heading in this letter we have received your cable of
the 9th instant, advising that R. N[...]u for the information and
will no doubt _ear further from you in due course.

STATISTICALI71.70MAT/OH.
We are forwardi under separate Cover for your files
\the following N. . publications:-
Auditor General's report 1926/27
Government Savings Bank Report 1926/27
Metropolitan Water Sew[...]& Drainage Board
Report 1926/27.
Yours4
id(t[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (130)[...]•
Dear Sirs,
As we have recently negotiated a number. of demand
drafts issued by your good institution and branches, we take
this opportunity to request that you will be good enough to let
us have for our reference a list of specimen signatures of
ofiee-s who are authorised to sign on behalfof your goodselves
Thanking you in advance.
We are, Dear Sirs,


Yours faithfully,

(sgd)
Acting Chie[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (131)[...]l!E22A21VJIA=MATAY

Dated 4/1/28.
No.504. Referring to your letter of 5th October have not
received supply original Letter of Credit, Letter of Introduction,
when were they despatched we have distributed specimens.[...]held on account of Note Issue
Department matured to-day Head Office credited Z10,158.6.8
representing difference between Face Value and Cost. Balance of
prodeeds credited to Note Issue Department Special Account.[...]the Note Issue Department
British Government Treasury Bills as follows:-
Face valu[...]Rate of Discount £4.3.9L p.a.
for £860,000 4 for £60,000-.
Latest advices quote:-
New York sight rate on London 4.87 15j16
Montreal 4.88 7/8[...]Italy 92.36
Czecho-Slovakia 164.68
Germany (Reichmarks) T.T." 20.45[...]Portugal 2 7/16d.
Calcutta 1/6 1/16
Shanghai #f 0[...]Chefoo (China) 1/10 5/16
Dated 5/1/28.
No. 503. Kindly deliver[...]Armitage "Thanks radiogram all well still France returning
shortly Edith"
Referring to your telegram No.743 Head Office debited
1000000 - New York sight rate on London is 4.87 15/16.

Dated 5/1128.
No. 506. Subject to your approval, we establish a Documentary
Credit in favor of Simonius Viseher & Coy in exactly similar
terms to our credit No. 36 to the extent of £100,000 available
30th June. Record as our L/C No. 77.
Dated 6„4/28.


No. 507. Referring to your telegram No. 744 Head Office debited
£100,000. New York sight rate on London is 4.87 13/16.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (132)[...]17 th January , 1928

LETTER NO. 544.

P r "Na] era."

The Manager[...]We wrote you last on 10th instant, and have now
received your letters Nos.375 to 380 inclusive, dated 12th and[...]have to thank you for the advices contained in
your No.362 also for the copy of the Forgery Act 1913 enclosed
therewith.
The question of amending Sect[...]is being borne in mind for considerat4on when
any further amendment of the Act Is contemplated and it is
probable that the Section will be altered to bring it more into
line with the extract from the Forgery Act 1913 quoted in your
letter.

Ifr; ANG41,-SOUTI AEMAN BANK LTD. - MADRID.
LO, For your attention we enclose herewith copy of

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (133)[...]) * (
-a letter dated 22 November last addressed to Perth Branch bl
t—e above Bank.

INSURAN[...]ing consignments of Australian Notes by steamer were
made between branches during the week ended 14th January,1928:
Date. From. To. Per. Amount.
14/1/28 Melbourne Sydney "Kanowna" Z435,000
tt[...]3 000

Referring to our letter of 10th instant, we have to
advise that the Z235,000 in Notes consigned from Melbourne to
Brisbane by s.s. "Noreton Bay" on 24th December and held at th
office for saf custody were forwarded on to Brisbane by
s • s • "Jervis B[...]to advise also that the notes consigned from
Melbourne by s. 'Ormiston" on 4th January to Brisbane,
Townsville aa Cairns Branches were forwarded on to their
respective branches by the S.S. "Canberra which left[...]omminwealth Bank(Savings Bank) Act 1027, and for your informa
Lion are enclosing 2 copies of same. A further supply of

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (134)[...]when availnble.
As a matter of interest we are also enclosing 2 copies
of the Commonwealth H[...]blication issued by the Westminster Bank Ltd.
referred to in your Ne.376 entitled - "Points before TravellIr
has been received and we thank you for passing this folder on[...]IA 5 GASH & CONVERSION LOAN.
Enclosures as advised in your Nos. 377 and 379 have been
received and are having the necessary attention.

• NOTE PR[...]MACHINES .
Your No.378.
Advises under this heading are noted and copy of letter
and blue prints from Thomas de la Rue & Coy Ltd.have come to hand
andare being passed on to our Note Printing Branch at Melbourne.

LONDON FUNDS 4 FINANCES. //
We are obli ed for the full information embodied in your
No.380.


PROPC)SED LOAN FOR SOUTH AUSTRALIAN GOVERNMENT - 000.
We duly received your cable of the 12th inst ant stating
tha[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (135)[...]rchase their stock upon the
arket. If this were agreed to, which we note is your
recommendation, I;Alossrs. NiVison & Coy expect to b[...]of malr.ing
available the £83,000 mentioned has our approval conditionally
upon the adv9noe being repaid out of proceeds of the loan.
lae cabled you to this effect on 13th instant.

Your s faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (136)[...]LTD.
Casa Central: Londres.
era out is6 wilt. oak ow Ur .16.[...]PERT H.
Dear Sirs,

As we are renewing the list of signatures in our
file, we should be obliged if you would furnish us at
your earliest convenience with the latest list of specimen
signatures of your signing officials at your Head Office


and Branches.
In the event of any future change in the list
sent us, we should appreciate your official advice, notifying
and authorising th[...]g you in advance
We remain,
Yours faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (137)[...]CABLE(' FROM LONDON.
Dated 10 1 8.
No. 510. Referring to your telegram No.746 Head Office debited
£189,000.
Subject to your approval we establish a Documentary Credit
with Red Clause (London Form 0.B.2) favoring drafts of Fa[...]ers' Co-Op. Grain Insurance es Agency Co. Ltd. at 60 days
sight to the extent of £29,500- available[...]B. Pedersen". Insurance
ineliding War Risk covered on this side. Red Clause advances to
the extent of £20,600- current at any one time. Weight of bags
as wheat any advance against freight to be endorsed on Bill of
Lading. Record as Letter of Credit No. 79. Other conditions
exactly the same as in our Letter of Credit 9.

,Dated 11/1/28.
No. 511. Metropolitan '?D[...]ish investors have drawn attention to speech
of Frew reported in Brisbane Telegraph of 12th Novemb[...]ncial difficulties
disclosing capitalization interest on indebtedness to Government
in 1922 and 1923[...]paragraph
first page states instalments and interest have always been
promptly paid. Authority fo[...]ve asked R. Nivison
& Coy for explanation and we are asked to refer to you. As
prospectus is basis of contrac[...]serious mis-statement.
Dated 11 1 28.
No. 512. Referring to your telegram No. 747 Head Office
debited £100,000 - credited £30,000.
Latest advices quote
New York sight rate on London 4.87 7/16
Montreal. 4.88 7/16
France T.T 124.02[...]92.17
Czecho-Slovakia 164,7/16
Germany (Reichmarhs 20.47[...]Portugal 2 7/16
Calcutta 1/6 5/64
Shanghai fS[...]Chefoo (China ) 1/10 5/16
Dated 12/1128.
No. 513. Referring to your telegram No.749 Head Office debited
£300,000. Referring to your telegram of to-day R. Nivison & Co.
are sorry they do not expect opening for Brisb[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (138)[...]e 5$ but cannot
very well n,lie price till nearer time of issue.
Securities totalling £400,000 held on account of
Note Issue Department matured to-day. Head Office
credited £4,386.13.4 representiri difference between Pace
Value and Cost,
Balance of proceeds credited to Note ssue
Department Special Account.[...]the Note Issue
Department British Government Treasury Bill., as fo
Face value £400,000[...]if necessary to purchase their
stook on the market which we strongly recommend. R. Nivison
c.4 Coy would then expect[...]' telegram *.to.700 Head Offi ce
Reforr ne to you,
debited £50000000
Sec[...]held on account of
Note Issue Department matured to-day. Head Office credited
£1,091.13.4 representing difference between Face Value and
Cost,
Balance of proceeds credited to :dote Issue Department
Special Accoun[...]the Note Issue Department
British Government Treasury Bills as follows:-
F[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (139)[...]S-La-39

Dated . 1 8.
No.516. Latest London market quotations (after deducting
accrued interest) of the following securities are set out here
under:-
00mmonwealth Government 5[...]Z98 5
N.S.W. Govt 0 1945/65 97 10
Victorian Govt.[...]5,%
4 1940/60 97 15
S.A. Government[...]Trust 51% 1944/54 98 '5
Melbourne Tramways Bd. 5 1944 93 10[...]IWO

New Zealand Government 5% 1946 101 5 MO.

South[...]5

Dated 18 1 28.
o.8 earring to your telegram No.751 Head Office
debited £350,000[...]-
Canadian Granulated 16/-
Java Whites 13/4
Java Average 17 tel quel 12/6
Czecho-Slovak granulated[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (140)[...]ueensland National Bank Ltd. 9 6,000
s to the debit of this Office

No, 747. Referring to you 10th January No. 610
Letter of Credit approved,
Pay to-
Commercial Bank[...]000
as a T.T. to the debit of this Office.
Receive from Union Bank of Australia Ltd the sum of
£30,000 as a T T. for credit of this Office

Dated I
No. 748. Referring to your telegrim of 9th January Brisbane
City Council could issue be made before the end January - advise
prospects and probable terms Please reply promptly as Mayor
at present Sydney conferring an .tter and expects to lea[...]0 000
as a T.T. to the debit of this Office.
Referring to your telegram of yesterday we agree to balance of
£83,000 being made available to South Australia conditionally on
the advance being repaid out of proceeds of the loan when raise[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (141)[...]erday.
VOTE ISM UPARTMEN SS= TIES.
Referring to our No.541 of the 3rd instant,
we should be glAd if y[...]sue Department. Amounts When collected should
be credited as shown hereunder, this office being advised
by cable:-

Amount to b credited o
Redemption
Due Date Investme Value .1[...]S (dal A account.
1/3/1928 3 War Stock 800,000 £7851 220.1 .8 4,779.3.4
1/4/1928 5% War Bond ci X262,,500 £2601500
1/9/1928 5% War Bonds R420 0000 £420,000

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (142)[...]LUU

00
01.10.1.

411.......400.611.1a4kon

rtt[...],kstf, • 1,1 A

orerrinc to your no, 347 of 17th tiovember advieing
that oru.[...]mation* an extract from letter dated 17th inutant reoeiv0
from the General Itaxiager of the 'dote[...]tion :-
it,-.10 to report that attilr putti.t into miliatactur0[...]quit* tinsuitabio
for our purpo6-e04 \';e-. also hold ranufaoturod :work which[...]0.1)-oiled *It* *doh, will have to be titre This hart[...]Itas *oat us u to, tbo-. preteent, thrit .we
H.m,e under L direct lorig of irrettive or bet
saddled with. 700 rowan of pain, reprosont tog over
tn ry[...]pay.us ..4114 to re:04mo the 700 de.footive repz2,
.[...]ay £rnht)4o** between here ,r,1,, nti, London* .
ootcroe. thr,re i it ofup000n, in[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (143)[...]rote you last on 18th instant, and have
since received your Letters Nos. 381 to 388 dated 19th and
22nd D[...]BALANOS SHEET --
3ch Dept. torwaret by this mai (5 skeleton balance
sheets for l[...]/12/27.
Balance sheet figures will be cabled you in
due course as per schedule atta6hed our letter No. 161 of
9/3/26.

mg/ I s s
Actuary. We have been informed that there is an Asso iat:
in Belgium Which keeps[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (144)[...]S-La-39

"Contrefa one et Falsifications
Bill[...]and in addition a spoweia1 Bulletin (written in French )
published each time a forgery is reported.
We should be gla[...]of the above publication, to be forwarded for our use and also


for our Bank to be placed on the list of subscribers to receive
a copy of future special bulletins.

PUBLI9ATIONS.
Acty[...]if you would arrange for one copy
of each future iSsut of "Penrosess Annual" edited by William[...]09 Farringdon Road, London, E.0 to be forwarded direct to the
General Manager of the Note Printing[...]EALTH

IIH.
We refer to your No. 379 of 15/12/27 and hand you
herewith copy of a letter received from the Commercial Banking
Company of Sydney Ltd., Road Office, dated 20th January, 1928.
Ton will observe that lass Robertson's December 1.927 holding
has been redeemed and the proceeds transferred to her credit with
the Commercial Banking Coy of Sydney Ltd. London. We have

• therefore, cancelled the application for conversion.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (145)[...]X N_5T NAL BANK & TRUST 00. ---
or your attention we enclose copy of letter received
LO
from the above. We have advised them that the matter has been
referred to your Office.

!:10E
._ ON STRALIAN NO[...]ing constgnments of Amstralian Notes by steamer were
made between branches during the week ended Saturday 21st
January 1928
Data r 1.
ES To.
1 /1/28 Mabourne Adelaide Itetoomba £258,000[...]Sydney al.' 360,000[...]n connection with their list of authorised signatures
bArree been forwarded to Oapitste.

CREDITO ITALIAN°.
The advices in your l.e er No. 383 have been no ed.
We *gr[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (146)[...]S-La-39

involved, to include the addressee of various Branches of
Agents in large centres whore drawings under our Circular
Letters of Credit are negotiated at more than one of their
offices.
Awe
WZENR BMX MEIN.
BANK FUR OBERO,STIMIREICH UND SALZBURG
The arrangements made by you in consequence of the Wiener
Bank Verein closing their Branch at Steyr (Austria) have been
recorded and Branches advised by circular as necessary.

THE STATE BANK OF
for your records we enclose 6 copies of revised list
of authorised imatures, dated December 1927, issued by the
above Bank,

• We refer to your No. 377 of the 15th December last.
Bri[...]of £150 5% Decew*er 1927 Inscribed Stock was redeemed and
proceeds sent to your Office for the credit of her account on
the 15th December, 1921.
We understand that the redemption application was pre
viously received through Bundeberg Branch prior to owner
departure for England•

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (147)[...]vise us on this point.

wit Qv viaTorg4, qv. Your No.
We note your advioes and are pleased to receive the
copy of letter from the Commercial Banking Ooy of Sydney Ltd.,
the tenor of which is appreciated.

NEW Yon APEPCX.
Referring to Paragraph under the' eliding of *0010


Remittances to replenish New York Funds in your No. 385 it
has now bean decided as agars conv[...]lous method
of err ing Now York finances as requ red that our Agent there
will ar ange for al ki inetitutiem to buy from hlm
London ?undo by T. T. or draft as may be required. We hardly
think it necessary to arrange God. o t the
present juncture, in view of this arrangement .

LO BS.
es cl ont aired nyo . 388 for which`we

• thsuak you oare noted

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (148)[...]SHOJI Yo
Your advice s are no ed and ould nt on for your
info 'nation that re entity the of Mi uasan 3:alaha
approached us with a request on rat ar Ines and the Aatter
is reaelviris consideration tt. the pre 3 flt time.

EDELLIgaignia. Yo[...]gy.
'TA
refer t your cable of the 19th s ant, enquiring
Whether it would t us to make advances a Read Off/0e to
the above of 4350- against cash deposited at your end. You
will since have received our reply approving the riegue
provided It is of a reasonably temporary na ture. Xntere t
will be charged here on the overdraft at Australitul rates and
we ammo that you w allow interest on the Zz50 with you at
London rates.[...]r sableNo.5 71. t 00 000
redit of South Australian State Government. The
action ha, our approval and you were duly debited in
cunt with theabove amoun on 21st initant. ?or your

• inform ion the Sou Australian State Governmentwere

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (149)[...]SYDNEY 20th January, 1928.

Deputy Registrar,
Commonwealth Government Inscribed St[...]00, EALTH 5I WAR CONVERSION & REDEMPTION LOAN 1927
MISS LILLIE ROBERTSON.
Referring to the Conversion Application for £100
1943 5°/4, which we received from you to-day, signed by Mies
Lulls[...]inform you that the amount has
been transferred to her credit with our London Office, our


instructions were to credit the interest from time to time
and principal at maturity to her account.
We return you herewithMI s Robertson's
Application for Conversion.
Yours faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (150)[...]y,
Australia.
Dear Sirs:
take pleasure in informing you that shortly after the first
of next year„1928,this Institution will issue its own Dollar Circular
Letters of Credit, and we beg to inquire ir you are agreeable to our
including your name, as well as that of your branches, in our list of
principal correspondents who will cash Letters of Credit of the Chatham
Phenix National Bank and Trust Company.
Upon receipt of your advice to this effect, we shall be glad
to forward you specimens of our Circular Letters of Credit for your files,
together with any other information which[...]of value in
this connection.


Reimbursement of amounts paid by you will be obtained by
demand drafts drawn in your favor by the holders of our Circular Letters
of Credit on our principal bank, 14 Broadway, New York City.
We shall appreciate receiving your terms and conditions. It
is understood that all charges are to be collected from the holders of
our Circular Letters of Credit at the time drafts are drawn by them on us.
Very truly Yours,
(Sgd.) SOHN B.GLENN.
Assi stant Vice-Presiden t.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (151)[...]647

o. ve i
nk f Au- d. the £6 000
as a T, T forredit f this Off ice.
P o:.
Ban, of Nim South the s of Z226 000
Co= rcial Bank of Ltd.[...]s to the debit of this Office
Dated 3.
No./69.
Comm, al nank y of ;1.4m Ltd[...]0
as a T.T. to the debitof this 1
On 26th January pay
Commercial Bank of[...]a T to the debit of this Offt e.
d
N. 760. an[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (152)[...]ed 1/ 8 No. $

R erring your teiegram No. 7 2 lead Officedebited
L[...]k si rate on London 4.87 5/8
Montreal w 4.88i1
Pranc[...].17
Czech° lovakia T.T. " l64
0 0
Germany (Reichmarks 20.47[...]) 1/10

PAS .
No0 520. Referring to your tel No,754 Head Off e debited
S100,000. Wo[...]e of Talbra Dunedoo of C.350 ainst cash deposit
here New York "sight Rate" on London is 4 87 5/8.
flat 2p/1/ 3 .
ko. '10 Subject to your appr val pay South Australian State
Government Z300,000 and debit this office ta account. Referring
to your telegram No.755 Head Office debited £425,000. Now York
sight rate on London is 4.87 7/16.
Dat d 21 I 8
No. ahou No 522
eferr nog to your e egram No. 756 Offi debited 25,000
Referring to your telegram No. 730 Offic crediteda000000
Sydney City Council funds

Da
o ter o egram o.7 7 Head Office reditee
433,000 debited r4436 000. York at ht rate on London
4.87 7/16.
Dated 2
o.524. R Sri erring to your telegram of 21st January we stablish
documentary credit in favor of Mitsubishi Shoji Itaisha
Z100,000 drafts at 90 days sight .., credit expires on 31st August
shipment of wool drafts to be rked drawn under Letter of Credit
No. .137. Other conditions exactly tbe same as in(our cable of
Letter of Credit 65. Record as Letter of Credit No. 91.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (153)[...]o be underwritten probably Wednesday, rate
currency 1945/15, issue price Z000 instalments payable[...]uary, 40;,,, 23rd 1arch, 4,),;:, 30th April - interest
payable 13t January, lst July - inter st on instalments 1st July
rebate of C for prepayment of instalments. Subject to approval
Loan Council, which is expected tomorrow. Referring to your tele
gram of 20th January Blake £350 deposit lodged with ua. aoferring tr,
your teleram .."- 1o. 758 Head ,)ffice debited n24,O00. New York sig1 4
rate on London is 4.6'7 5/8.


ated
o. erring to your t No#759 Usa 0Ticto, debited
446,000 Referrinz to your tel
4, No#760 Read Office debited
Z100 OGO S
La[...]Czecho-S .ovaitta 164.43
Ger (Rolohmarks) ft[...]1/6 le
3hanghal[...]Ghiefoo ( St ft 1/9 15/16

orerrinc to yoir telegram flo.7 9 Head[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (154)[...]BRAGS BOARD SIM.).
On regttapt of your cable No. 511 of lth anuary
14v sing that I-,[...]with the Board concern the matter
and were authorlsod by te1ephone to reply in terms of our cable
of 18th January. Mail a4vices have new boon reel, ved from
Brisban and it appears that the c[...]Board
included the add1tioaa1 phr*** "and interest and r demption of
these spocial loans pr[...]ds due to Govern-
meat.
Our able of the Ietb. January was despatched prior
to receipt o these man advices„ and we did not[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (155)[...]onsider ab
*our,, f al

•[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (156)[...]31st January, 1928.

Per "041,tral."

T[...]wrote you last on 27th instant, and have now
received your letters Nos. 389 to 392 dated 29th December, 1927[...]The finalisation certificates forwarded with your
No.389 have come to hand and have been passed on to the Wheat
Growers Pooling & Marketing Coy, Sydney.

INS CE ON PAPV -[...]ONE ST- BT°C.

Enclosures as advised are to hand, for which we
thank you.[...]0.
The advices contained in your No. 391 are noted ,
and we have advised the Commonwealth Treasury in terms thereof.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (157)[...]-La-39

The advices contained in your No.392 are noted with

CO,RR ONDENU.
Our No.548 under e heading "MbtropolitAn .ater Supply[...]he applications forwarded on behalf of the above
are having attention*
With regard to your final pararrraph, we regret that no
forms were forwarded to you on this occasion. However, in
respect to future loans we will arrange for a few application
forms to be despatched to your Office immediately they are
available*

ON KO &I SHANGHAI BANKING OORPORVION.
ER. If not already claimed please pay the London Offi Ar4,
of the aboveInstitution the sum of £6.15*- drawing on us in
reimbursement thereof.
This amount represents cost of weekly excha r, rat
messa, s[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (158)[...]ng comAinments of Australian Notes by steamer were
made between branches durin, the week ended[...]To. Per. Amount.
.24/1/28 Melbourne Perth "Kanowna" Z89,000[...]£659,000[...]ION.-'7

C
L. The advisees in your letter o. 389 under the above
heading have b[...]zihall be glad if you will forward, for our records
a specimen of the safety paper used for[...]lers & Sons of Sheffield, for delivery in
Melbourne before the end of May, of 250 M.T.3. Steel Transfer


Plates 16i x 1" x 3/16" thick with both long edges sli ht1y
bevelled[...]last price was approximately Z2/1/6d. per plate
London.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (159)[...]S-La-39

We refer to your Cable No. 513 of the 12th instant,
advising t[...]delay in obtaining a quotation from the Lond
market It was decided to make definite overtures to the American


market, and we accordingly approached the National City[...]Eessrs 3,P. Lorgan concerning the matter. In reply to
our enquiry we were advised that an issue of 5;,; bonds could he[...]offer, however, didnet attract the
Council, more particularly as they bad received an indication
that Messrs. Lee Hig inson & Co. would be prepared to offer
a more favorable price. We accordingly arranged with tho)
latter firm to submit a tender, with the result that the Council
has now accepted this fi[...]the same as in connection with
the Council's previous American issue. Some formal matters
remain to be completed before the contract is s gn but we
anticipa[...]il
be made in a few days.
For your own information we might state that the
contr[...]ange that Messrs.
Lee HivinsanA Coy may cash courians presented to them for
payment.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (160)[...]T.Ts. to the debit of this Office.
Renow Note Ism° De rtnt Bri loh -rraal ry Dili.
£250,000 maturin during Februar.
At your discretion prior to 4th rebruary purchase
)2900000 by calle trmIsfer for[...]28,1,44.
ao.11 . Brisbane City Council - ?or your confidential
infornation tTrangements practic[...]unt Price
net to Council other terms name as previous islues*Oonftlential
onnorrarealth Government- recently sounded New York market I
lockn ' 0000000 to 4„',5000000 000 but terms offered 5-') cnroases
27-;,; quite uacceptable.[...]' Commonwealt
London requested review gholo pewitiorL.

No rder 140.0day s date dobit Note I e Depar men t
Special Account credit Head Office account £500,000.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (161)[...]7th February, 1928.

LETTER NO.551.
Per "Orsova."

The[...]We wrote you last on 31st ultimo, and have now
received your letters Nos. 393 to 401 inclusive, dated 4th and
5th January, 1928.

YEARLYFIGURES-lsDEOEMBER3.2.
ALF-s_ 3 &_LI r
I
Your half-yearly returns as advised in your No.
393 are to hand and at the present time are In course of
checking. In future we would be glad if you would cable
us when the returns are posted, advising in the cable the name
of the Ves[...]sUally let the
uditor-General know some time before we have our final
half`--dearly figures available for him,in order that he may
make the necessary arrangements to be in Sydney by the time
we are ready for him.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (162)[...]1st December, has come to hand. We thank you for
your advices.

COMMONWEALTH WAR CONVERSION & REDEMPTION LOAN - JOHN RENR
on S«B. Account No.15 2 - our No. 39•
Safe Custody Receipt No. A.9658 in favor of the
abavenamed, has been received.

BANKERS' CLEARING LOND0f. to/

Statement and report issued by the Bankers' Clearing
House, forwarded under cover of your No. 396 has been perused with
interest ,and. we thank you for forwarding the publicatL[...]ly statements of the above account as advised
in your N 398 have been received.

LONDON FUNDS & FINANCES.
We are obliged for the advices under this heading
contained in your No. 401.

For your information we wish to advise that the
aba[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (163)[...]ALTH
G ----qS_SSLtaKS._
GOVER rOGK REGISTRY'
HH We revert to our No. 524 of the 21st November, 1927,
relative to the new basis of remuneration to the Bank by the Comm.-
wealth Treasury for conducting Registries (including the floating
of loans etc.) in[...]a, and in particular to the
statement enclosed therewith setting out the method of arriving

at the profit (tamed by the Bank in this connection, and desire
to advise that "The 444st cif postage, post offie[...]mitted from this state-
ment. Will you please, therefore, have the statement amended so
as to include the[...]consignments of Australian Notes by •steamer were
made between branches during the week ended Satur[...]To, Per. Amount.
1/2/28 Melbourne Brisbane "Ormiston w £161,000
4/1128 Sydney "Jiatoombe[...]6

_WWEAL
HONGEON CORPORATION.
ER If you have not already done so, please pay to the
London Office of the above Bank the sum of £9.6.2, representing
cost of cables, regarding exchange rates, despatched to us
by their Singapore Branch during th, quarter ended 31st December 1a

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (164)[...]S-La-39

SANGUINETTI FRA ELLI. BOLOGNA. - Your No. 395.
ôoT , SnitgEgk
GEO. . CIAILLA----.-2
In view of your advices, we are deleting the above
names from our records.

CROATIAN DISCOUNT BANE. - Your No. 395.
The specimen cheque farms have been forwarded to our
Branches concerned.

• BARCLAYS BANK (FRANCE) LTD. - Your No, 395.
The supplement issued by the above Bank has been
passed on to our Canberra Branch.

pREDIT SUISSE -List of Swiss oorresDondents. - Your No. 395.
BRITISH OVERSEAS BANK i/Jr S • ecimen si nature circular.
We note that you have[...]f the
above which will be distributed amongst our Branches in due


course.

BANCO P1 ROMA. Your No. 39,
Your advices have been noted and our records
amended accordingly.

ILO
YDS NAT AL PROVINCIAL, FOREk
011 BANK[...].. 1.9.111.321.
The name of Etretat (France) has been added to
their list of Branches.
REIREMELEAEITIEntakaa. ________


The name of Gossau has been deleted from our records
Yours faithfully,

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (165)[...]Dated la/21.
No.50. Sugar vices Cubas B. 96% polarisation 11/11
American granulated 15/6
Canadian granulated 15/6
Java Whites[...]Java average 17 tel quel 12/6
Czecho Slovak granulted 15/6
February delivery.[...]February, March. H/0 credited
Referring to your telegram No. 739/L1001000 Sydney
City Council funds - Referring to your telegram No. 764 Head
Office debited Z200,000.
Latest London market quotations (after deducting
accrued interest) of the following securities are set out
hereunder:-
Commonwealth Government 5%[...]10
N.S.W. Government 5% 1945/6 £97 15 Oa

Queensland Go[...]1944/54 £98 IMO

Melbourne Tramway Bd. 5 1944 £93 10[...]•
New Zealand Govt, 5g 1946 £101 10
South African Govt.[...]New York
"sight rate" on London is 4.87 1/16.
124-531_:gAed 3,14/2,8 -' viltialLEUMPA.
ated 28.
o 5 2. We have to day credited Head Office with £11,250-
representing interest on securities held onaccount of the Note
Is[...]New York sight rate on London 4.87 3/16
Montreal " * 4.88[...]Czecho-Slovakia " * 164
Germany (Reichmarks* 0 * * 20. 3
Pol[...]Calcutta ft * 1/6 3/64
Shanghai[...]1/10 3/16.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (166)[...]S-La-39

Dated
No. 33. Referring to your telegramf to-day Bank of England
will purchas[...]London is 4.87

Datgq.-IpLak,
No. 53 . Referring to your telegram of to-day forward supplies
as signed[...]xpedite despatch as manx enquiries for
debentures. Referring to your telegram No. 766 Head Office
debited £350 000. New York sight rate on London is 4.86 31/32.
Dated 4/2/28.
o. n5. leferring to your telegram No. 767 Head Office debited
£150,000 - Referring to your telegram of to-day Half-Yearly returns
posted "Cathay" due at Sydney 6th February.
Dated 6/2/28.
o.536. Referring to your telegram No. 768 Head Office debited
£552,000 and credited £10084,000.
South African rates altered to-day and are now as
follows:
Sight buying[...]ight buying rate on London........ * .1/16%
Sight selling rate on London....... Premium
Up to .9/16%
£100 and[...]•
New York sight rate on London is 4.87 3/16.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (167)[...]he debit of this Office.
Dated V2/28.
No./65. Referring to our telegram of 28th January we expect
Brisbane C[...]ruling date of transfer.
Dated 3/V28.
No./66. Sydney City Council debentlires being signed expect be
ready to leave Sydney in about month's time. Could send portion
earlier as signed if desired. Pay to:
Bank of Adelaide the s[...]debit of this Office.
,dated 4/2/28.
No./67. Pay to:
English Scottish &Atstralia[...]Advise by cable date last half-yearly returns posted
and name of vessel

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (168)[...]B T ADMITT TO ME STAFIF-'
Referring to our letter of the 15th August la$t, we
shall be g[...]t this will bi
necessary in order to maintain our records of admiscdons to till
staff in st[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (169)[...]14th February, 1928.

LETT7-10
P er "liar

The Manager,[...]We wrote you last on 7th instant, and have now
received your letters Nos.402 to 410 inclusive, dated 9th and
12th January, 1928.

PAP= FOR AUSTRALIAN NOTES. /
Enclosure as advised in your No. 402 has been
received and your advices noted.

SINKING FU D PURCHASES - Your No. 408.
Your advices are noted.

OF AUSTRALIA[...]OAN WILLIAM
GooDA, RE.
Enclosures as advised have come to hand and are
receiving the necessary attention

LONDON FUNDS & FI[...]the advices under the above
heading,smbodied in your No. 410.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (170)[...].50

COMMONWEALTH GOVERN NT INSCRIBED STOCK REGISTRY.
We thank you for the advices contained in your
No. 405.

AGENTS & CORRESPONDENTS.
CREDIT COMMERCIALEDE FRANCE.-
LC The advices in your No. 404 have been noted and our
records amended as necessary.

BARCLAYIS BANK DO i ION COLONIAL OVERSEAS
DISTRICT SANK L D.
CHARTERED BANK OF INDIA AUSTRALIA 8: C-16:NA,.
A 0 B. K I DIA LTD
The specimen signature lists et . advised in
your No. 404 will be distributed to our Branches concerned
upon receipt.

---
MITSUBISI 1" 1113--RA. •
With reference to your No. 384 and further to our
No.547, for your information we have to advise that it has been
decided that the advance applied for here against Mitsui Bussan
Kaisha Ltes Trust Receipts has-been declined, unles3 the
Company is prepared to arrange for the establishment of a Let et
of Credit .n, their favor bar Mitsui Bank Ltd. We ha[...]n suggested by them is
not in accordance with our usual practice. It is felt that


we wou[...]isk involved by
advancing against their Trust Receipts merely, and consider that
it is may equitable that the Company arrange a credit for thei3
finance as above indicated.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (171)[...]66'3.

AusTRALIAN z Oir[...]ing consignments of Australian Notes by steamer were
made between branches during the week ended Saturday 11th
February, 1928;-
Wie,. From. To. Per. Amount.
8/2/28 Melbourne Brisbane "Canberra" £72,000[...]Sydney "Kanowna" 76,000
( " Hobart[...]61a429.5
PAPER FOR AUSTRALIAN NOTES. --
SAB. The advises contained in your No. 396 in this
connection are noted, and we thank you for arranging with.
Messrs. Portals to reduce our order of 5,000 reams of 41-
paper by 2,212 reams being the additional stock of paper held
by them on our behalf at the time the order was placed.
Yours faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (172)[...]CABLES FROM LONDON.
No - Week . Pi ures.
Dated 7/2/28

No.538. Referring to your telegram of to-day R. Nivison & Co.
expect to place Launceston before end of February. Referring
to your telegram No.769 Head Office debited £223,000. New
York sight rate on London is 4.87i.

RIAIAL.ga
No. 539. Referring to your telegram No. 771 Head Office
debited £100,00[...]New York sight rate on London 4.87 3/16
Montreal 4.88
Franc[...]07
Czecho-novakia T.T. 164
Germany (Reichmarks)" 20.42
Portugal 2d.5/16
Calcutta 1/6
Shanghai tt fl 2/6
Chefoo (China) 1/10
Dated 9/2/28.
No.540. Referring to your telegram No. 771 Head Office credited
£84,000. New York sight rate on London is 4.87 3/16.
Dated 4/2/28.
No. 541. We have opened account with Midland Bank Ltd.,
and they are offering us much good business. They ask would
it suit you to open a Letter of Credit up to £200,000 for purchase
of wool with 50% Red Clause wool to be held in Australia 6 to 8
weeks to be scoured before shipment. We strongly recommend the
business. Referring to your letter 24th December silver received
Commonwealth Public Account credited £3,700 to-day.
Dated 11/2/28.
No.5[...]commission. Common-
wealth Bank of Australia are appointed Fiscal Agents in conjunction
with J[...]ommonwealth Bank of
Australia is not named as responsible for placing loan. It will


b[...]tment as Fiscal
Agents and documents will be presented to A.V. Mason for signature
accordingly.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (173)[...]other prices
nominal
Cubas B. 96% polarisation
nominal[...]i
Java average 17 tel quel 12/6
Czech° Slovak granulated
Febru[...]New York sight rate on London Is 4.87 7/16.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (174)[...]a-39

CABLES TO LONDON.
Dated 6/2/28.
No. MB. Pay to:-
Commercial Ba[...]£129,000
as T.Ts. to the debit of this Office.
Receive from:-
Commercial Bank of Australia Ltd the sum of £840000
as a T.T. for credit ot this Office.
Under to-day's date debit Note Issue Department Special
Account credit Read Office Account £1,000,000
Dated 7/2/28.
No./69. Referring to your telegram of 9th December and referring
to your telegram of 23rd December, please advise when Launceston
City Council loan £100,000 will be issued. Referring to your
telegram of 2nd February proceeds Brisbane City C[...]h February. kill. advise
exact date later. Presume proceeds to be paid to Federal
Reserve Bank New York for the credit of account No. 3. Advise
New York Agency direct as may be necessary.
Pay to:-[...]ebit of this Office.

Dated 7/2/28.
No. 770. Secret. Commonwealth Government have conditionally
a[...]. to the debit of this Office. On 9th February
receive from Union Bank of Australia Ltd. the sum of £84,000
as a T.T. to the credit of this Office.
Dated 9/2/28.
With reference to a confidential letter 29th December,
1927 received from Governor Bank of England relative to co-operation
of Central Banks you are authorised on behalf of Commonwealth Bank
of Australia to participate to the extent of £1,0000 000 on request
and recommendation of Bank of England. If greater amount at
any time suggested refer to Head Office. Have requested Governor
Bank of England to arrange[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (175)[...]S-La-39

P_,I3LPL2I.
go. i. Referring to our telegram of 7th February, No. 769,
Brisbane City Council, then proceeds received Council c'eires
E5P,500 invested best rates pending Tramvays interest Ict April.
£31 000 short call pending cont[...]ised. £10,000
paid Barclays Bank W. for the credit of British Thomson Houston
& Coy. Ltd. Balance crecAted this Office in account. Referring
to your telegram of 11th February, No. 5421 final paragraph Mason
authorised sign documents. Referring to your telegram of 3rd
February e expect despatch greater part of Brisbane City Council
debentures by "Orvieto" leaving Sydney 18th February. Referring
to your telegram of 11th February, Midland Rank Ltd. credit approved.
Dated 17"rL28.
No. 774. Un[...]debit Note Issue Department Epecial
Account credit Head Office in account 250P/ 739:11:8. From to-day
Note Issue Department British Treasury Bills £250,000 to he held on
acc[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (176)[...]y/by 14th February, 1928

STRICTLY CONFIDENTIAL.[...]Dear Sir,
FOREIGN CREDIS FOR STABILISATION OF EUROPEAN
URRENCIES.
I refer to ou cable of the 9th instant, relative
the letter received by s from the Governor, Bank of
England, regarding the co- peration of Central Banks in the
assisting of the stabilisa ion of currency in certain European
Countries,and for your con idential information we enclose[...]r
lines to that sent you,and requested that they confer with you
and make such arrangements las may be necessary for our partici-[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (177)[...]SYDNff, 10th February, 1928.

CONFIDENTIAL.

The Right Hon. Montagu[...]N.
Dear Mr. Governor,
I acknowledge your letter of 29th December, 1927,
with reference to the stabilisation of Foreign Currencies.
First of all I would like to say that the spirit
of your communication has been very much appreciated by myself
and by my Board of Directors. The matter was dealt with at
a meeting of[...]is week and I cabled to you as per
confirmation herewith. We were uncertain to what extent on
our part participation would be expected and in our cable to the
London Manager suggested a limit of[...], however,
you would like us to participate to a greater extent than this,
we shall be glad to have further advices from you on the point.
My Directors took the view that the participation
of the Commonwealth Bank would not be really material for the
success of any scheme, and that your offer was made merely with
the view of enabling us to function as a Central Bank and[...]amongst the Central Banks of the world, which
at present we do not hold.
Again thanking y[...]Dear Mr. Governor,
Yours very sincerely,

(SGD.) E[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (178)[...]LONDON- DATED 9/2/28.

"Your confidential letter 29th December 19 27 received.
"Spirit of your communication much appreciated. Board prepared
"to participate and I shall be glad if you will confer and arrange
"with our London Manager who has been instructed by cable as
"follows (quotation begins) -
"With reference to a confidential letter 29th December,
"1927, received from Governor, Bank of England, relative
"to co-operation of Central Banks, you are authorised on
"behalf of Commonwealth Bank[...]rticipate
"to the extent of £1,000,000 on request and recommendation
"of Bank of England. If greater amount at any time
"suggested refer to Head Office. Have requested Governor,
"Bank of England,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (179)[...]16th :February 1928.

No. 555

The Manager,
LONDON.
Peter Sir,

We are in react t of your let
and desire to confirm the appointment oMice Ruby Pott[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (180)[...]21st February, 1928.

LETTER NO.556.
Per "Orvieto."

The Man ert[...]We wrote you last on 14th instant, and haS,re now
received your letters Nos. 411 to 419 inclusive, dated 16th and
19th, January, 1928.

BANK'S PRIVATE TLEGRiHI COTY.E. ,[...]ppropriations
have been made for use between your Branch, New York Agency, and
this ,Office:-[...]DUC - National City Company
Our advices to New York in this connection should
reach th by the 15th proximo.[...]IL- LOAN OF £2 000 000.

• SAB. Referring to our cable dated 13th February we have
to advise that debentures with a face value of £1,120,000 were
despatched by thes.s. "Orvieto" which[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (181)[...]2 -
The debentures were shipped by our Flinders Street Branch
who are communicating with you direct by this mail, forwarding
telative Bill of Lading and enumerating the debentures forwarded.

INSUL USTRALIAN NOTES. --

sAB Owing to irregularities in the delivery of the mails
between Melbourne and Sydney caused by the recent heavy floods
we are not in a position to give a full statement of the
consignments of notes by steamer made by Melbourne Branch for the
week,ended Saturday 18th February.
The fo4plowing consimments were nade during the period
ending the 15th instant:-[...]Ber. Amount.
15/2/28 Melbourne Sydney "Orungal" £120 000
n Cairns 26,000
ft Adelaide. K[...]£457 000

Any further consig ents that may have been rr de
during the week will be advlsed to you in idue course.

PjZ _"‘ImIs
Rk __.
:_magLa
Bch. Your returns have been she ked, and found to be, i[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (182)[...]EMITTI.713
The ces cont in d in your No. 414 are noted and
we than you for bringing this t er under notice. We are
writing our Capital Branches to take the necessary authority
from remitters for transfers in futureto be made in roubles
and are also forwardinT these branahe opy of Lloyd[...]ular sent out by you,

ON PM
We are obli, d f or the advices co" tained
your .
N . 419. We note that up tof was paid by borrow[...]dation over nt7ht on 18th January,and assume that our
cowilithents for that day had already been arranged at the lescter
rate, and we did not participate at 4;4; as your return of "Money
at short 'call' forwarded us quoted[...]r
- Your No . 415 .
1.81e note your advices under this heading.
The spe[...]Copies of letters as advised in your Ne. 415 te the
S nk ng Fund Conri. stoners have been received.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (183)[...]D R "1CT
We note -'th thanks that one 1928 directory and
one of the 1007 issue have been despatch[...]These
bave not yet come to aald, but when received the last
year's ccopy will plassed'on to T':elbourne.

note thatup to date of writin the Letters oi
*Credit and Letters of Introduction have not reached you.
These, however, were forwarded - teredpost from
Note Printin6 Bran h *Lelbourae, the 5th December and
no doubt have reached you by the fo lowing mail.

F REP - 4AT BANKS.
We are obliged for the above publication and are
looking or*ard to its receipt with interest.

TLETT. Owth- of Cash[...]e necessary atten ion.
Yours ithfully,

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (184)[...]Date 144/28.
No. 545. Qeferring to your telegram No. 775 Head Office lebited
1100,000. If you approve creit South AustraliAn State government
1200,000[...]Dated 1J2L28.
No. 54. Latest London market quotations (after deJucting a crued
interest) of the following: securities are set out hereunder
Commonwealth Government 194[...]/15/-
N. S. W. Government 5 1945/65 97/15/-
Victorian Governmen[...]5/-
Queensland Government 5% 1940/60 97/15/-
S. A. Government[...]ty Council 5% 1939 96/10/7
Brisbane Tr:.imway Trust 50 1944/54 97/15/-
o4.bourne Tramways Board 5, 1944 93/15/-
Brisbane 6ater Board 5% 1949 93/ 5/-
New Zealand Government 5* 1946 101/ 5/—
South African Gove[...]New York sight rate on London 4.87-7/16
Montreal ft ft ft[...]92.03
Czecho-Slov5ki* 164-7/ 16
Germany (Peichmarks) 20.44
Portugai 2-5/16
Calcutta tt 1/5-59/64
Shanghai 2/6-3/4
Cbefoo (China) 1/9-1546
I.iunceston Loan - R. Nivison & Co. propose[...]loan at a price not exceeding par and accrued interest', (quotation
ends). When confirmi[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (185)[...]S-La-39

Dated 15/P
No. 547. Secret. Referring to your telegram of 7th February, No.
7700 High Commissioner for the Commonwealth now reco mending Govern-
ment to abandon negotiations ow[...]at they can place loan at an early date and this
course will no doubt be followed.
Date& 16/2/28,
No. 548. Referring to your telegram, No. 778, Head Office debited
£200,000. We have credited Head Office in account £250,000 British
Treasury Bills matured and debited £247,416:13:4 for £250,000 new
Treasury Bills due 16th May purchased at £4:4:- per cent. New York
sight rate on London is 4.87-3/8.
als1....16/P/P8.2.
No. 549. Secret. Under instructions from Prime Minister, High
Co[...]ho was in favor of it, but
as those negotiations are abandoned for the present and as the Common-
wealth Government has nol' actually decided to approach London market
for loan £8,000,000, Collins suggests matter should not be re-opened
with Bank of England.
Dated 17 2 28.
o. 550. Referring to your telegram of 13th February Brisbane
aity Council we have received £l 0 390,084.9.5. proceeds 617750793
at 4,87 7/16. £65,500 utilised as instructed and balance credited
dead Office. New York sight rate on London is 4.87 7/16.
Dated 17/2/28,
110.551. Secret, Referring to your telegram of to day Collins informs
me that very d[...]m knowledgf
of intentions in London. This ap$,:rently Cannot be done if Bank of
England informed °wins, to fact that Grenfell is a Director of Bank of
England and also is a partner in J[...]t authority of Prime Minister.

Dated 20/V28.
No.562. Referring to your telegram No.781 Head Office debited
£449,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (186)[...]c
transfer to the debit of this Office.
Referring to our te ez;ram 13th Instant No.7i3 text 30
should road "3 e City Council debentures".
Dated 5 2 23
0.77C. Brisbane City Council Loan net proceeds 1,775,793 Li
be available 16th February advise New York direct Iry
disposal
Dated 1j2J2q.
!iW. secret. Referrin_, to your telegram of 15th February
have you discussed late[...]wealth Loan being is In London at this
juncture.
Dated 16
No.778. 3ydney Office have issued draft Iio.30A £3 ,3. 4.11 on
Oredito Italian° Turin, arrange as necessary.[...]bit of this Office.
Dat d 17 2 28,
oeeret. Referrinz to your telegram of 16th February
No, 549 - Governor Bank of England s%[...]ed confidwatially
of developments as a matter o courtesy.
tf94.1 /, / 4.
o.780. Referring to your telecram of 7th February - your tole
of 14th Pebruary credit No. 57 Layeook unused portion £7087t
cancelled. Outstanding negotiations £73,40C. Interost on Red
Clause advances also to be provided.
Dated 20 2[...]date debit Note Issue Department Special Account
credit Head Office in account £5,333.6.8 from to-day Note Iseme
De,;rtment British Treasury Bills £500,000- maturing on 4th Apri[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (187)[...]22nd February, 1928

LETTER NO. 557.
"Orvieto."[...]We wrote you yesterday.
EDMUND BOTTERELL GILLETT.
With reference to the letter of introduction
supplie[...]above on 28th December last, Mr. Gillett
receptly called upon us and has opened an account in our books.
Arrangements have been made to ne[...]ension warrants
from time to time as desired. We might mention that we were
pleased to meet this ex-officer of the Bank of England and have
offered our services to him in any way that we can be of
assistance.

AGENTS & CORRESPONDENTS.
ci':RAE -4/liour
We note that the above Bank has closed their
Branch at Beaulieu. Our records have been amended as
necessary.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (188)[...]The two supplementary lists of Specimen Signatures
issued by the above Bank in connection with their Threadneedle
Street and Lombard Street Offices, duly came to hand and have
bee; distributed amongst our Branches.

MARTINS BANK LIMITED.
We thank you for your advices to the effect that the
Bank of Liverpool & Martins Ltd. is now known as Martins Bank Ltd.
Our records have been amended and the Branches concerned[...]titution
and Branches advised by circular in due course.

faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (189)[...]22nd February, 1928

LETA No.558*

The Manager,
L N D 0 N.
Dear Sir,
RE THE MUTUAL LIFE & CITIZENS ASSUR NCE COY LTD.
The above Company have applied to Nivison 64 Company
to be admitted as a permanent member of[...]the
right to-withdraw from the group on givinz three Months notice.
Before making the latter stipulation the Secretary to the Compar
consulted me to ascertain if we[...]any information as
to how Nivison & Company would view the time limit. We were
unable to give any infornation, but advised that[...]oposal, and also for any
information you can give regardi the compositkin-of their
underwriting[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (190)[...]We tbxmk you Thr the advi ()ea contzgned in your 10 .1
()mooring Thin Copperplate Oil, and are pleased to note thit
Metiers. Viinetone & onet Limit have ,reed to reduce taleir
quotation for 2,500 gallona of Thi[...]n.
We also note thA they have offered to def
of th shortages of oil ex. s.s. "Port Dunedin", and t
have reed to accept their offcr.
Peterrtntj to your No.396 of 5th jatittary last
Peters
we aend hereto extrict: fro letter acted 17th inztant rcived
from the General liLw,zer ot our :Moto Printing Branch
In additio[...]strinzy. the body of the material, when put before
i‘ood liht, is found to va2[...]This typo of fault undoubtedly forms the greater pa
of our- low) and au its haing is so irre lar
it is impos-ible to avoid it in the cutting.
111101 reference to the latter part of their letter, ii


would v. .that they are unaware that we are ue
this material on Roe Press 'Cylinders bere the strati
is consideral when c[...]er in depon4ent on the strengt1i. of its we.i.lkes

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (191)[...]qood order but
it in of no further uve to us.
ftmaa atdy Of our reeoid ircnue it iv
vet[...]have beet us 170 nrth cf uoed felt uere
uued prey/owl fnr period (-)n oxiritoy[...]From thin it will. be
Seen tt our clan 'IS Myth-N-3 but excessite[...]be contingent o lc piaci
of a furtter order with this Firm* an thin vould[...]ote not tit for
circul,„tion. should b 61'4 U you rinttUi tf..-4.,e the rutter up
with Vle Lary 'ralt Cowl- Ay, advise us further in duo course,
Tours dthfuU,

•[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (192)[...]te you last on 22nd instant, and have now
received your Letters Nos. 420 to 422 and 424 to 426 inclusive
dated 2 rd, 25th and 26th January, 1928.


BANK PR IV \TE T ELEG[...]priations
have been made for use between your office and Brisbane Branch:-[...]The advices contained in your No.001 wen-, duly

passed on to the Secretary to the Treasury who now advises that he
has taken the ma[...]issioner's Office and is


obtaininT the views of the Financial Adviser.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (193)[...]OR HONGKONG.
If you have not already done so please pay the London
Offi e of the ab[...]sum of Z5.14.11 being cost of
their meekly rate wire to us for the quarter ended 31st December,[...]•
192?.
Kindly draw on this Office in reimbursement.

NOTE PRINTING BRMICH MACHINERY INK MILL.
We append herewith extract from letter received from
the'Cleneral Manager of the Note Printing Branch:
"1 made enquiries direct from Hunter Penrose L. d.
"16 St.Bride Street, London B.C. for a small Ink tall
"with[...]is £23.15.- packing
"extra!, at London Warehouse.''
te be lad if you would[...]Ltd. to forward one o the machines in question direct
to General Manager of our Note Printing Branch..
Please arran, to draw on th t branch for your
expenses.

OERC E OF TaaRk DUNEDOO.
Tour advices are noted. Ins tr u t ions have been
is ued to Sydney[...]nt each half-year.
You 1/it I have already received our No.547 s ating
that interest All he charged on the overdraft here at AlIstrali9i
rates (6tcf).

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (194)[...]6510

OE ON AU JULLO[...]win consignments of Australian Notes by steamer were
made between branches during the peri[...]Amount.
18/2/28 Lielbourne Sydney -"Largs Bay" £60(,;,000[...]Adelaide "Kanownan 60,000[...]ta " 2V/2/28.
Melbourne Rockhampton 'Saros[...]Ye No 42

We note your advices and agree with you that it would
be preferable to retain these amounts in London. Any claims
that might be made are, of course, to be closely investigated
by the Manager before payment is effected.

• In our No. 534 we enquired regarding the legality of
these transfers from your end, and we assume

into this matter as you have not notified us thereo145.
that you are going[...]4 also whether the Government have any claim thereon.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (195)[...]Sc

4 -
receipt of this letter advice on this question has n[...]to us please let us know the position.

STORES - LETTERS 01 CREDIT & LETTERS OF INTRODUCTION.

The remarks contained in your No.421 under this
heading are noted and when the new print of Letter of Intro-
duction booklets is completed a further supply will be despatch,
ed. They are at present in the hands of the printers, and
should be available in a few weeks. As, you are no doubt
aware, these booklets are revised periodically and reasonable
supplies only are despatched to Branches. This course has
'been found necessary in view of alterations to our Poreign
Agency list from time to time, and until such time as all
Agency Arrangements are finally settled it will be necessary
to follow the present course. A sufficient supply for your
requirements was forwarded to carry you on until the new[...]_2 E.13.
We are obliged for the press cutting forwarded
by you. ruling o[...]il Judicial GomMittee
ls of considerable interere noted with thanks.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (196)[...]the prospectus 0 the
above issue e—closed with your NO.424.
We Ilave passed on a copy of the prosper us o the
South Australian Treasury.

DI0TRIBUTIQN OF BANK/' BALANCE
Referrina to our let No.534 we ara orwarding
by this mail compl[...]eet mail list, and shall be
glad if you will return samo at your earl est convenience duly
amended.[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (197)[...]DON.

Dated 21 2 28.
No.o53. leekly Figures.
Dated 2 28.
Referring to your telezram No.782 Head Office ,
debited £317,0[...]ndon is 4.87-i..
Dated 22/2/28.
Referring to your telegram No.784 Head Office debite6
£40,000. Latest advices quote -[...]0 rate on London 4.87 13/16
Montreal u 4.88 11/16
France T.T. U 124.0[...]2.07
Czecho-Slovakia T.T. ft 1645/8
Germany (Reichma' s) " u 0[...]2 5/I6d.
Calcutta 1/5 61/64
0 ft
Shanghai 2/6 c
0 0[...]1/10
Dated 23 2 28.
Referring to your telegram No.735 Head Office credited
£11,000. New York sight rate on London[...]will issue
to-morrow. Lists close Wednesday, 6/, on application 94% 2nd April.
3 mc=ths interest payable let July by scrip coupon bonds of £100[...]. f.o.b. other prices nominal.
Cubas 13.96;; polarisation 11/- nominal
Ameri[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (198)[...]6th March, 1923.

IZTTER NO.561.

The Manager

L0ND 0 N.[...]e wrote you lost on 28th ultimo, and have now
received your Lettere, Nos. 423, 427 to 429 inclusive, dated
26th January, and 2nd February, 1928.

• SINKING FUND PURCHASES.
Copy of your letter of 31st January, to the Sinkin
Puhd Commissioners enclosed with your No.427 is to hand.

2D0N 1 INAIMS. - Your N 42

Tour comments under the above heading have been
read with interest.

NOTE PRINTING BRANCH - STORES.


We should be glad i[...]nd place an order with Messrs. Anderson Grant of Great Eastern
Street, London, for delivery at the Note Printing Brandhddelbourx

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (199)[...]of approximately 120 rd-) of 50"
Dull Fronting (Three oat 3s American Cloth to be similar in
all respects to that specially made for Messrs. De La Ru[...]consignments of Australian Notes by steamer were
made between branches during the week ending Satu[...]. Per. Amount.
20/2b28 Melbourne Sydney ROrmi stun"" £166,000
Brisbane[...]Perth 60,000

£746,000

' 4 I BOHLLaC BANK-VEREIP.
enclose copy of a letter from the above, dated
9th January, 19280 and shall be glad if you will give the uatter
the necessary attention.

NOT ING BRASCH -- Stores.
We dhould be glad if you would arrange for six (6)
ravers Diamond Points to be purchased and forwarded to the
Ao e Printing Branch. For your guidance we are forwarding under

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (200)[...]l e likely supp lers of these instruments are: -
L.M. Van Moppes & Sens,[...]T.G. Woods Sons,
54 Spencer Street:
Olerkenwell.[...]33 Holborn Viaduct.

Your advices have been ndbed.

CENTRALBANK I FOR NORGE.
In view of he informa ion contained in the report
by the Departmentof Overseas Trade enclosed with your No .423
we will await your further ad ices before amending our records.

.00 ION D AN
e mad e w e above stt u ion
have been recorded.
As the cap tal of this Bank is small w
would be preferable for any transaction to be limited to
a 000[...]y the Bar= Wazionale D'Albanial and if that 3ank prefers
it the arrangement for the Umitation of dwing could be made
reclprocal.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (201)[...]4

We have forwarded two copies of our Pr vete Telegraphic
Code direct to their office at Durazzo and have advised the[...]soon as t'
arrangements have been firalize with your Offi oe. When we
redeive advice from you that the arrangements are complete, we
will advise Capital Branches that th[...]their two Of
when despatchin-, .Ts. to Australia are:-
Durazzo 236
Corttza 297

Tours fait —u ly,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (202)[...]KARLSBAD, den January 9th 1928.

Commonwealth Bank of Australia,[...]n,
We beg to inform you that we are revising our
foreign exchange files and find the following specimens%


Circular Letters of Credit
Letter of Introduction dated Octo[...]ter January 2nd019211.
Authorized signatures dated fray, 1927.
We shall be g[...]y confirm that the
above mentioned specimens are complete, eventually if you let us
have any financial papers which are necessary for the service
of your paying agents and do not appear above.
Should you have any advertising material for our show-


windows kindly forward same to our address too,-
At any rate we request you to mail one copy of your
last list of correspondents.-As soon as we shall receive same
we shall revise it as far as the following countries are concern
ed: Czechoslovakia, Austria, Hungary, Jugoslavia, Poland and call
your attention to any alteration Which occurred in the meantime.
It is well understood that this revision will be mnde
without any charge whatever. This revision r quiring,as a matter
of course some time, we shall be glad if you let us know When you
will be about to print a new edition of your List of Co:,'respond-
ents so that we may be in a position to return the correct list In

due time.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (203)[...]OM tON •N

Da
ao.3 9. London market quotations (after deducting accrued
interest) a following securities are sot out hereunder:
Clow, onwealth Goverment 5%[...]N. W. Government 1945/65 t97 lo 4011.
Victorian Goverment[...]Queensland Government 5 - 1940/60 £7 10
S.A. Government[...]ncil
Brisbane Tramway Trust
Melbourne Tramways Bd.
Brisban Water Board[...]5
New Zealand Goverment 4% 1946 £101 15
South African Goverment 0 1945t75 £102
Launceston Loan applications received No 8 amount£1,500- from
public balance[...]rate On ton 4.87 7/8
Montreal 4.89[...]164.68
Germany (Reichmarks)" tt[...]2 5/16
Calcutta 1/5 61/64
Shanghai 0 2/6
Chefoo (China)[...]1/9 15/16

a
rat Collin[...]issue Commonwealth Loan £8,000 ,000- 5 at 88 currency 1945
rebate of 4% for prepayment of instalments Urfa on
application* instalments as follows:
3.3% 16th March
30% 30th April[...]derwriting Priday advertisi

• Dat d
No.56
28.
Wie have to-day credited Head Office with £24,000-
representinginterest on securities held on account of the Not,

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (204)[...]h1928.

LETTER NO. 563.
Per Mogitan.

The Mager,
L N D 0 N.
Dear Sir,
We wrote you last on 6th instant and have new
received your letters Nos. 430 to 435 inclusive, dated 9th
February, 1928.

LONDON FUNDS et -PIN ilIC2,3,
The advices in your No.435 have been noted with
interest.

SOUTH AFRICAN TOCCHANG RATE0 Your No.430.
We thank you the c[...]by Barclay
Bank (D.C.& 0) in connection with tbe revision of the above rates
on 6/V28.

STOCK DEPARTLONT - LOAN MAMiG2.11 - Your 0.432.
The Statement of Stocks and B9arer a urit ies on
your books as at 31st December, 1927, is to hand.
With reference to your remarks, bowever, that these
statements are occasionally rendered we would draw your attentiol

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (205)[...]-39

- 2 -
to our letterNo.248 of 23/2/22 wherein we requested that a
Statement be furnished at the end of each half-year and
we shall be glad if you will note this for future reference, as

these statements are frequently referred to and required for
comparative purposes.

HRS.. MoDONALD Tem o ar Advance - Your No 432.
Your remarks have been noted, and we await your
further advice in due course.

WHEATGAOWERS° POOLING eic EARKETLICT COY[...]The Finalization Certificates forwarded with your No.432
-cve been passed on to the above Company.[...]CALICO.

We thank you for the enclosures forwarded with your
N0.434.

BOORS OF ER2alr CENTRAL BANKS.[...]contents of which have been perused with much interest.

AG NT3 a CORRESPONDENT0. _/'
R 1ONAt PAdVtICIAL EIANK LTD.
The specimen signatures nentioned ih your letter Aso 3l
will be distributed amongst Branches upon receipt.

DRAWING PA LI T IE S ON LIL,LII222ILER = Dpr No.431.
Your advioes under the above headin are noted.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (206)[...]667

IT Your N
We were pleased to arn that off relations
have a last been established with the abov[...]d Bank Ltd.
ooverin drawing alit .e etc. for them:Relives and their
Affiliations linve been duly recorded and Brarches are being
circularised as necessary.
We concur with your view that for the ti e being
no ben fit would be gained'
by extending our drawing powers
to the Mid and Bank and Affiliatio[...]ing a consignments of Australian Notes by steer were
mad between branches d ri. g the week ending[...];Itto Amount.
7/3/26 lief bourne Launceston Nalrana" Z260000
ft[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (207)[...]TD NOTES. ,
ith further reference to your N0 ak) Aatters of
this nature are of particular interest to us vo should be glad
If you could obt in for our information further details of the
evidence submitted and also of[...]ouncil Judicial Committee.
Yours aithfu y$[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (208)[...]as T.Ts. to the debit of this Office.
Receive from Commercial Bank of Australia Ltd. the
sum of5l,0OO as a T.T. for credit of this Office.
Under to-day's date debit Note Issue Department Special
Account credit Head Office in account £84,466 8 1. From to-day
Note Issue Department British Treasury Bills £4201 000 maturing on
4th April to he held on account of Head Office.
Dated 613/28.
No.739. Pay, to:
Commercial Ban[...]00
as T.T . to the debit of this Office.

Dated 6/3/21.
No.790. - Referring to our letter of 25th January Balance Sheet
(1.) £14501741 149.16. 9 (2)Z40 0000 000.-.-. (3) £1,379,155.15.
(4) £693,737.15.- (5) £19,684.14.6 (6) £19,684.14 6-
(7) £3315041 978.7.5 (8) £6,1051 748.9.- (9) £46,405 1691.8. -
(10-) 038,320.4., (11) £473,923.18. 2 (12) a,230,215.-.-
(13) £3,577 1 490.-.- (14) £42,6211 499. 3.11 (15) Z1014931044.18.
(16) £211401 000.-.- (17) £4,2631 336.17.- (18) £17,781,012.7.10
(19) £639,901.1.5 (20-) £42,7710 580.17.8 (21) £10,519,250.-.-
(22) £322,810.13.4 (23) £13,369.7.2 (24) 17th February
(25) 2nd March (26) 1,374,438. Alter first line credit side of
Profit & Loss Account to 31st December. Releasing Balance Sheet
8th March.
Dated 8/3/28.
11o.791. Referring to your telegram of 7th Larch No.566 Letter of
Credit approved conditionally upon Kean al Coy being still considered
undoubted for amount. Please advise. Referring to your teleL ran
of 7th roh No.565 Balance Sheet figures yes.
Receive from Union Bank of Australia Ltd. the sum of[...]forideedit of this Office.
Dated 4/3/28.
No.792. Credit Head Office in account £501 000 proceeds Laun[...]an in amounts £1010()0 or over as available then remil.
balance Launceston by mail at sight. Please advise rate of discount
prepaid instalments.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (209)[...]QL LONDON.
Dated 28.
No.563. Staff. Referring to your telegram of 28th February
three applicants appointed on probation as from 15th March.
Referring to your telegram o. 709 Head Office debited ZI48 Ovv.
New York sight rate on London ii 4:.0716/16.
Dtod
Weekly fi:ures
7 3 2q
No. 5.. Referling to your telegrwl of t'* irch assume you havc
included in ::::„Titish securities Z4000 000 Brit sh Treasury
thus making money at short call ZIO 111 000.[...]Pt ft
Lontreal 4.34
France[...]Pt
Czecho -Slovakia 164.68
9
Ger[...]tt
2-5/16d.
Calcutta l/5-61J64
Shanghai ft ft
2/6-3 4
Chefoo (China)" to 1/10
r[...]riters take balance.
ted
So oubject to your approval we establish a Documentary
Credit in favor of Amalgamated Freezing Coy. (Victoria) Ltd. in
exactly similar terls to our Clredit 590 to the extent of £20 ,u
available 6th June. 14ecord as our L/0 No, 103.
Da ed 033,
o. • i,eferring to your telegram of to -day :ankers report
Kean quite G,)od for amount. Ref errin to your telegram No. 791
Head Office credited t70000. Referring to your te1e5r4m I o,72
Head Office credited 12 030 proceeds of Launceston loan. .,"io
discount on prepay. ont. New York sight rate on London is 4.8Y .
Dated 8
o. 568. 4114.1) ect to your approval we establish a Documentary
Credit in favor of Simonius Vischer & Coy. in exactly similar to
to our Credit No. 770 to the extent of Z10000000 available 30th
June. Record as our IV, I. 105. Red Clause full extent.
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (210)[...]8.
eferrinz to your t1e 6r No.79 lead Office credited
ar ' e * • * •[...]ther prices
nominal.
Cubas "1. 96; polarisation 11/6
nominal
American gran[...]New York "Sight Rate" on London is 4.87 15/16,
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (211)[...]20th March, 1928.

SETTER NO. 564.
Per, "Ormonde."

The Maria ers[...]We wrote you last or 13th instants, and have
now received your letters Nos. 436 to 44 dated 16th February,1028,

INSURANCE ON AUSTRALIAN NOTES.[...]ing con ignments of Australian Notes by steamer were madl
between branches during the week ending Satu[...]To. . Amont.
14/3/28 Melbourne Adelaide "Large £386,000
ti Perth #1 180,000
16/3/28 Newcastle "Burwah"[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (212)[...]Y OF BUSINESS TRANSACTTD.'---
Bch Acct. For your information we enclose the customary copy'
busin[...]Ist Deeetber 1927.

Bch. Acct.
Your return has been checked and found to be
good order[...]d that of the Savings Bank
Department for die current half year s and cable the resets at
your earliest convenience.
Also kindly advise the estimated interest on
Australian Funds for the last two months in[...],p:RWRITER s. /
Mr..Shain. It has come under our notice that representatives
of Lloyds have approached some of our customers offering considepr-
able concessions over and above those offered by the Australian
Companies in respect of insurance over buildings. In fact they
have informed our clients that no matter what terms were offered
by an Australian Company they were prepa'red to grant a further
concession of 15co.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (213)[...]-.3

It is our wish to patronise the Australian Companies
as far as possible, but for our information please make tactful
enquiries co[...]erwriters, the
method of appointment of their representatives in Australia
and as to what are the powers and responsibilities of the
latter.

We should also be glad to know the procedure adopted
for settlement of claims and *hether[...]T. K
The Commonwealth Treasury have advised, in r,„-nly to
our enquiry, that their overdraft requirements in London up to
30th June next will be a[...]31st March...., ......3:06501000
30th April[...]31st May.... * 6 21446,000[...],.... 3,000 000
The above figures are an estimate only and the
Treasury have requested their London Office to advise them a
more accurata forecast of the position so it is quite possible
that the figures will be materially altered. We have agreed
to grant the accommodation asked for, on th[...]that
the Commonwealth Government will Issue Treasury Bills in London
to repay the lavance, if, and when, required to do so by us.
We are informed that to complete its loan programme[...]raise approximately Z4 0 000,000
Overseas before June, and, in the event of such loan being

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (214)[...]educe the above fi by the aunt
received from that source.
We cabled you as per readi ad° he approval
an overdraft to[...].nt up to 10 850 000 at
the end of the current month.

OURN11, WE ROPOLITAN BOARD OF WORKS.

Prospectus of the dbove issue enclosed with your
N .437 has been received,or which we thank you.

TOUR LETTER „T CREDIT NO 57 - 1.0. GAVIT . 00 000.
We note the advices contained in your No.439 regarding
Adelaide B/N 6981 for C14 0 735.19.9, and also that the affairs
of Mr...Gaunt are be in gone into by an accountant.
sball be pleaed to Ilea.r the result of udh,
investigation in due course.

NDO F IPETWB; „2.
we are obliged for the usual statement ox your funds
and of short oans to the market, also your full adviees under
this heading.

WOOL CRw.. ITS
Referring to your No. 295 said our subsequent adviees
relative to the suggestion for a enior of cerof your staff to
visit the wool centres about the middle of the year, this matter
has received consideration and it was deemed desi[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (215)[...]u might
please let us know what arrangemants are made after your
conversation with Er. McComas.

AgANTS ND 2a3
TH9HASApoK & 30N LTD.
Your advices under this heading in your No.438 are
not dy nd we are athendin: our r cords accordim Y.

BAN CA NAZIONA

We note the adviees conta.ned in your let tern Nos.
440 441 which ar receiv our attention.[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (216)[...]FRO.0, LONDON

Dated ,X3 / 8.
Uo.570, Referring to your letter of January Sellers propose
to deliver 50 plates Melbourne end of balance 2 equal consign
ments a[...]ht rats on London 4.87 27/32
Montreal " 4,
Franc[...]Czecho -Slovakia • 164.59
Germany (Reichmark 20.41[...]Calcutta 1/5 6 4
ft
hanghal 6-
If
Chef 00[...]tr;et quotat one (after deducting accrued
interest of the following securities are set out Aereunder:-
Coramonwealth Government[...]Oit! 1045/65 97 9 IMO

Victori[...]eensland Government 140/60 97 10
5.A, Government[...]dney City Council 1939 96
Brisbane Tramway Trust 1944/54 97 15
Melbourne Tramways Bd 1944 Oo[...]NOW Zealand Government 1946 102 10
south African Gov[...]t Rate " on London is 4087 /1
Dated 16


o.57 rring to your telegram of to day Associated Austrt4 Ian
3anks in London are increasing exchange rate,' "London on Austra t2"
buying /6rti, as from 19th March. Lay we vote same[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (217)[...]S-La-39

Dated
No.7 Refe rin o our am o r h No. 790 .%)u
please am nd number oa ices ank Depositors 1,132 486.
Dated
No0707. ring to our telex ram of 13thetch trans
plates Sel[...]ill be:
BUY1Nta.
Premium T T 20/.70
Demand 5/.try[...]D/s 15/-04 Discount 30 Di's 5/4
60 pis 25 Discount 60 Ws 2 6'0 I unt
90 D/s 35 I, Discoun 90 Os
Adjust your records .a c di 7. I tioo no o he
disclosed before 19th March.
Da
.1,21.,171,/.
No.799. Refer ns to your tel ra of 16t.. S f
Exehane e tera on appro[...]a Ta. to t he debit of this Office. We have agreed to
an overdra-t to Commonwealth Government n London up to
650 000 at 31st March.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (218)[...]Net Result Interest[...]Increase in Depositors' Credited to[...]X Decrease[...]EW SOUTH WALES .. 194,776 2,817,562 7 1 225,720 2,964,858 10 5 X 147,296 3 4,648 i8 6 12,583 8,331 337,830 10,697,145 11

VICTORIA[...]•• 95,650 1,566,276 1 5 109,885 1,713,812 3 10 X 147,536 2,322 11 6 5,724 3,978 171,517 5)811[...]5 7 14,537 10,985 448,345 22,651,690 17[...]34,803 584,772 16 6 38,245 641,249 12 2 X 56,47615 826 63,311

WESTERN AUSTRALIA ..[...]532 8 55,124 728,552 z 5 6,980 6 3 975 1 4 2,985 1,969 86,194 2,766,415

TASMANIA • • •• 24,575 285,145 10 8 26,659 334,027 9 9 x 48,88119 493 - 2 1,151 971 64,967 1,543,463

NORTHERN TERRITORY 1,491 37,332 12 7 878 15,638 12 7 21,694 - 68 18 11 178 94 1,410[...]2,191 91,095 3 4,294 134,368 16 10 x 43,273 3 5 458 16 7 200 460 6,678 351,883 11 11

736,101 11,638,670 10 7 799,04512,097,204 8 X 458 / 53311 1 16,993 12 2 39,3 3 28,461 1,182,486 46,405,691

We certify that the above Statement, compiled from returns furnished by the several Offices of the Bank, is correct.

• Secretary.[...]Sydney. 19th March, 1928.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (219)[...]27th March 1928.

LETTEA No. 566.
P "Comorin."

The Managei,
LONDO J.[...]We wrote you last on 20th instant, and have
now received your letters Nos.444 to 448 inclusive dated 21st o
22nd and 23rd February, 1928.

ISSUING COLMONW-UTH TREASURY BILLS N WNW .
ER. We have recently been in communication with the
Commonwealth Tregsury, regarding the question of the Bank
placing their Treasury Bills direct on the Money Market instead
of through. Eessrs. iv son & Company, as in the past. They
have agreed to this course and will pay us a commission of 1/
on all Bill[...]A
London, and they were quite ,agreeable to the change, also
intimating that, should we find at any time that we were unable
to issue tc the Market direct, we would be quite at liberty to

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (220)[...]ck to thel m to help us throug
This course should result in material benefit to the
Co onwealth Govern[...]from day
to-day as may be necessary to suit the Treasury, and thus saw
a considerable amount of Interest.

INSURA10E ON AUSTRJAAN NOTES.
Fo[...]ing consignments of Australian Notes by steamer were mad
be Branches during the week ending Sa[...]Per. Amount.
, 20/3/28 Melbourne Adelaide "Kanowne £109,000[...]Rockhampton "Time" 63,000
41M01111011111.411.0.1.11601......MitMON.[...]01114NOMMINI....1941641.0.11•01.1...

AUTO xTIC RECORDING SAFE COY LTD - Your No.447.
ANA
The sample packet of Home Safes referred to in you
letter of 23rd February, 447 was duly received. We thank yo
for forwardinc these, together[...]Frankenthal for his
attentionl and advise him we are very pleased with the sample
product but it is not at present practicable to introduce any
innovation in our Savings Bank Department.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (221)[...]S-La-39

BIEM_REJALEAM.
Copy of a istter reoe v from the above Inst tut or
addressed to our Canberra Branch is enclosed,and we shall be
glad[...]with them and the Westrin-
ster k Ltd. t ith a view t,o rranging the facilities asked
for, that is of course, if you think it advisable.

BANGA NAZIONALE DI ALBANIA.
Referringto the advises in your o. 0, we have
recorded the arrangement for the inclusion of Premantle with
our six OapitA Offices in the reciprocal arrangements for the
issue and payment of[...]specimen set of control documents forwarded with your
letter has been sent to emantle Office.

PRVA H A[...]bove
Institutio4 has been closed and have amended our records
aceordinely.

HE HAND L MAT., HARP Your No.440.
'Your advises to the effect that their Branch at
Surinam is not aVailable for ordinary banking busimss are
noted and our records amended as necessary.

BA 1' OF 'MAID DUBLIN. do-

Copy of a letter received from the above Institution

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (222)[...]6-66

BhINCO SÃO PAUL[...]SAC PAULO 3rd Yebru%ry, 1928.[...]f Autraila, Ltd.

We are pleased to inrorm you that in accordance with an
agreement made with our London correspondents, the Westminster 138,
Ltd., Foreign. Branch Office„ we are allowed to draw on your
goodseives„ for account of this Bank, and it is understood•that you
will honour our- drafts in Pounds, which will 1.), d- 1,, confirmed by
our above corresnondonts.
For the proper purpose we are sending you, under separate


cover„ our booklet showing specimen of siintuie f the officers
authorized to sign for our concern, as well ac our last balance sheet,
and ask you to kindly acknowledge receipt of same,
We also take advantage of this occasion to offer you our.
service for any kind of banking transaction[...]We would thank you for sending us your 11.1A of authorized.
signatures in order to facilitate future business we might have,
Your, 'very truly,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (223)[...]s66

COPY.

BANK OF IRELAND,
Box 9[...]N. S. W.
Dear sirs,
'"e are at present revising our Piles, and ?hall
be glad if you v111 help us to veri our records by giving
at your earliest convenience a copy and the date of the[...]isting arrangement with you, stating the names of our
Branches whose services you use.
Yours faithully,[...]Eecretary.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (224)[...]6U
'."'ILI:3 PROM ON[...]o.,
2oiN
ur Letter of Credit 57 Gaunt Adel.. de Office 73 N.70A5
Melbourne Off lee 2507/8 unpaid paynent promised end of this week we
hold wool. ReferrinE, to your telegram No. 801 Head Office debited
L1301000. New York sight rate on London is 4.88 3/16.

No.577 dated 20 3 28 Ifteki FLtnes,

Dated 21/3128.
eterring to your telegram No. 802 Head Office debited
£9,000. ReferrIng to your telegram rm.792 Head Office credited
£11,000 Launceston Funds. Latest advice[...]t rate on London 4.08:
Lontreal ts 4.88
Prance T.T." 124602
11 ft[...]Czech° -Slovakia 164 ,
0
Germany (Reichmarks 20.41[...]1/5 63/64
ft
Shanghai 2/6
0[...]h )
Dated22/3/28.
eferrirr to your telegram803 Head Office credited
00,000. Securities totalling £80,000 held on account of Note Issue
Department matured to-day. Head Office credited £863.6.8 representing
difference between face value and cost. Balance of proceeds credited
to Note Issue Department Special Account[...]for the Note Issue Department rritish Gave nnent Treasury Bills as
follows:-Pace Value £50[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (225)[...]Armitage sailed to day "hitral" all
love. Referring to our telegram of 22nd March we have to-day
purchas.4t for the Note IsJue Department British Government
Treasury Bills as follows
Face Value £30,000,Coot £29 690.0.
Maturity Date 23rd June. R[...]new 'York sight rate on London 1. 4

Daed. 6/3/28.
No .581 . Referring to your teleran 1,o. 804 Head Office credited
Z10'7' Referring to your telegram No. 805 Head Office credited
£25,000. We have received an enquiry from National Bank of[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (226)[...]3rd April 1928.

LETTER NO.569.
P r "Oronsay. tf[...]ote you last on 27th ultimo, and have now
received your letters Wos.449 to 43 dated 1st March, 1928.


,CESTON - ISM 0 00 000. e DEBENTURES
Prospectus to ether with press ,uttin3 connectio
with the above loan enclosed with your No. 450 has come to hand,
for which we thank you.

ACENTS & CORRESPONDENTs.,/
SPECIMEN SIGNATURES .
Parcel receipt for the 'Esperance Baytt shipment
forwarded ith your No.451 has been received and the matter
having attention.

• LONDON FUNDS & FINANCES - 'Your No. 453. /
We are obliged for your full advices in this
connectiem.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (227)[...],56q

TATBAN7* ED.
Se refe your cable of th ultino advi that
the National, Ban_ of India Ltd., had rnade an enquiry regarding
the purchase of told bars from us. At the present time we
are not desirous of selli this gold and cabled you to[...]NOTES.
For insurance purposes tre ha e to advise that the
following consignments of Australian Notes by steamer were made
between branches during the week ending Satu[...]. Per. 4111Punte
28/3/28 Melbourne Sydney "Orungal X20,000[...]Zealandia 3/4/23).
28/428 bourne Brisbane 'Orun _52,000'[...]Adelaide "noreton Bay" 112,000
II[...]I(
The graphic char re ed to in your letter No.446
ha now come to hand.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (228)[...]- 3-.
DRAWINGS ON POLtND-WIEiERBANKVJREIN Your No.45I.
Although we would prefer to issue a draft in resne t of
all transactions n. Poland we are prepared to afford the facilit-
ies for remittance of moneys through you by ordinary remitting
warrant In favor of the payee in Poland, but only where this
convenience is specially asked for. Branches are being advised
in the matter and you may pass our decision on to the Wiener Ban
Verein.

COEMO:IWEILTH PUBLIC ACCOU:T.
Further to our No6564 of 20th March, will you please
note that at the request of the Treasury we have approved of
incmIsed overdraft a[...]0,190000
30/6/28 ‘GO 000
Sinc[...]iven to the above limits of
overdraft we have received your cable of 31/3/28 advising that
the overdraft of the Commonw-alth Government in London was
£4 766000 In view of the fact that their drawings have
exceeded[...]e we have passed the information on to the
Secretary to the Treasury. It would appear that the High


C[...]bmittinc his estimate of the position to the
Treasury understated his requirements.. You will be further
advised when we again hear from the Treasury.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (229)[...]S-La-39

OUR 'Prz

Flame note that the undermention[...]ranu

Yours ath ully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (230)[...]ther prices
nominal -
Cubas B. 965i, polarisation 12/
nominal[...]/-
Canadian granulated l6/
Java whites 13[...]ated 15/3
April delivery.
Referring to our telegram of 20th March - Adelaide Office B/N 7045[...]paid. New York sight rate on London is 4.88 3/16.
Dated 27/3/28. YelklY, fig2E22112Lagl.

Dated 28/3/28.
Referring to your telegram No. 806 Head Office credited
£100,000-.
Latest advices[...]New York sight0 rate on London 4.88 3/16
Montreal If[...]T.T. 104 11/V
Germany (Reichmarks) II 0 20.41
Port[...]0 0 175 61/64
Shanghai 2/6z
Chefoo (mhina) " It 1/9
Dated 29J3J28.
eferrin; to your telegram No. 806 Head Office credited
£100,000. We have to-day credited Head Office with Z71809.14.9
representing interest allowed on Note Issue Department "Special
Account" for the current quarter.
Balance of Note Issue Depa[...]al Account at close
of business to-day £25,426.10.2.
New York sight rate on London is 4.88 3/16.
Dated 30/3/28.


10 .58. Iteterrin, to your letter of 21st February Bonds arrived
when will balance arrive urgently required. New York Sight
rate on London is 4.88 3/32.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (231)[...]. bet quotation. (after dethcting accrued
interest) of the followinG securities are set out hereund
Co olonwealth Government 5'; 104[...]48
Government 5- 1945/65 97. 5. AGO

Victorian[...]15.
Queensland Government 5':, 1840/60 07.10. GOO

.A. Gove[...]W*410 Government 1945/75 97.16. AGO

Tasmanian Government 5[...]1944/54 98 -
Melhourne Tramways Bd. 5 1944 93.10.[...]2.15
New Zealand Govt. 5;01 1946 102. 3.
,,outh African Govt. 510 1945/75 101.10.
Referrin:, to your telegram 28th March Coramontroalth Go
overdraft 4,766,000
.:** to-day

ferring to your telegram No. 807 Head Office debited
000 ereited P426 000.

• in
We have to day credited Road Office with £6,250 repre
interest on ao,,urities held on account of the Note Issue
Department - Referrin to your letter of 18th Janua-y we have
credited Note Issue Department Special Account Z262,500-
We have to-day purchased for the Note Issue Department
British Cove 4nt Treasury Bills as follows
Face Value t260000
Cost Z257[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (232)[...]31413 TO LON'


O. 006, oceive from The BriGnah 2'4ottish & Australia[...]ch .,. £100,000 29th arch as T. Ts. for the
Credit Of this Office. Referring to your telegram of 2Gth March
National Bank of India Ltd. we are not sellers at present. Referring
to our cable of 1.9th parch Commonwealth Government overdraft yourReceive from -
Commercial Bank of Australia Ltd the sum £60 0)0
The Bank of Australasia £200,000
as T.Ts. for credit of this Office. Referrin . to your telegram of
3,)th roh, 3ydney City flouncil ,"'.oHkentures ..,643 00 forwarded per
"Comorin" 20th rch[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (233)[...]10th April, 1928.

LETTER NO.570.


P[...]e wrote you last on 3rd instant, and have now
received your letters Nos.455 to 460 inclusive, dated 8th March,
1928.


INSU OE ON AUSTRALIAN[...]er. Mount.
2/4/28 Melbourne Launceston "Nairana" £56,000.

WORLD'S SUGAR PRICES. '[...]formation is advised to them monthly. You may, therefore,
discontinue your fortnightly cable in this connection and

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (234)[...]g o y u leer No. 80Head co
Credited a 0,000 debited 3.46 000 Referring to your tele ram
No.792 Head Office credited £27 000 Launceston funds. New York[...]No.590 weekl

W0.5 Referring o yo telegram No. 0 ,ead ff cocredited
£176 000 Head Office credited £920 000 Br ti h Tr sury Bi 1
duo anddebited Z910 800 for £920 000 Brit sh Treasury Bills due
4th July purchased at t4.-.. Won. to our telegram of
27th Pebrua when shall w[...]Dt e o ondtl on 4.88
Montreal 4.87[...]Czedho-Slovakia T T. 164.6$
Germany (Reichmarks U 20.42
Po[...]Calcutta N 1/5 63 64
tl
ha hal 2/6 I
Chefoo (Ch na)[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (235)[...]TO LONDO1r

at,
No, 808. Receive from the Bank of Adel ade the awn of
R100 0 0 as a T.T. for credit of this Office ,
Pay to[...]h & Australian Bank Ltd he sum of 6,000[...]of this Office.

U •
No. 809. Receive from
The Union Bank of Austral the sum of £26,000
Yokohama Specie Bank Ltd, 150,000
as T.Ts, for credit of this Off

ed 10


No. 810. Referring to your te1egrcr of 4th 4pril azceston
Ilzpects despatch (law 4 ure3 within three

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (236)[...]11th April 1928.

SATIELNJ2
Per "Malola."[...]•
letter of the 7th February attached to your No.437 have been
noted. The General Manager of our Note Printing Branch advises
that he does not desire the two plates at present held by you
returned to his Branch. Possibly Messrs. Sellers & Sons will
be prepared to replace them with good plates; if not, you may[...]as you think fit.
Yours faithfully,

•[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (237)[...]11th April 1928.

• The Manager,
LONDON[...]ty PAWN
William Th masIeore WIN
We are in receipt of your letter No.455 of the 8th
ultimo and note your advicee and confirm your action under the
circumstances in making these appointments. We have also
considered these advices in relation to our letter of the 6th
March 1928.
Yours faithful'[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (238)[...]i 1928.

LETTER 573.

• Per "[...]BRISBANE: COUNCIL,

Referring to our letter of 20th December last the
tropolit n[...]over by

The Bank is at present carrying for the Council
an overdraft of about £800,000 transferred, from the Water &
Sewerage Board and it is p[...]o liquidate the debt to the Bank and to carry out further
works.

The Council pr[...]bids for the proposed
loan and you , will be further advised in this connection In due
course. In the meantime we are taking steps to obtain

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (239)[...]14th April, 1928.

The :Manager,
LONDON .
Dear Sir ,
REDUCTION OF B. ICES.
In order to effect a reduction in Branch
Balances, you kindly pass the undermentioned internal
entries at your office on 12th June next. This should be
carefully diarized in order that the entries shall syn[...]Sundry Colonial Branches x8 650 000
Credit.
undry Colonial Branches £11,750,000
Yours faithfully ,

• Secretary.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (240)[...]17th April, 1928

LETTERNO.575.
11E2.49212.119.y."[...]We wrote you last on Ilth instant, and have now
received your letters Nos. 461 to 464 dated 15th March, 1928.

INSURANCE 0' AUSTRALIAN NOTES.[...]ing consignments of Australian Notes by steamer were made
between Branches during the period ending S[...]Per. Amount.
7/4/28 Mel bourne New astle Saros" £135,000[...]Adelaide Hobnont s Ba '276,000
Perth[...]Hobart "aroo's." 60,000
Transhipment to be made a[...]by s. s. "Esperanee Bay 24/4/28.)
Melbourne Sydney Itaroola" 300,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (241)[...]- 2 -
Referring to our letter of 3rd instant, we have to
advise tha[...]obart on 3rd April and that
the notes that were to have been transhipped to Hobart by that
s[...]WEST AFR IOA LTD.

The advices in your No. 462 have been noted and our
records amended by adding the name of CASABLANCA to their
list of Of ices. Branches are being circularised as necessary

INSURANCE ON AUSTRALIAN NOTE1 '- Your No . 461.
The shipment of notes by the "Katoomba" was made on
4th February, 1928 and not 4th January as advised by us.

• Pt[...]ixt.4.44'"
Vie note the advices in your No.461 and thank you for
your attention. When the publication comes to han[...]was confirmed as Z50,000. The amount appearing in our
cable viz - £250,000- was correct.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (242)[...]ght rate on. London 4.88-1/4
Montreal 4.87-13/16
Franco T.T. 1[...]i..szecho -Slovakia n 164.78
Germany (hei hmarks)[...]1/5-63/64
Shanghai ft if
2/6-3/4
Chefoo China) ft ft[...]held on account of Note
Issue Dapartment matured to-day. Head Office cradited £4,250
represanting difference bo,tween facf,) value and cost. Balance of
proceeds credited to Note issue DepartmozA Special Account.[...]e Note Issue Department British Govern
merit Treasury Bills as follows:
Face value £400,000 Cost £396,000
Maturity date 12th July Rate of Di[...]00 held on account of Note Iss
Department matured to-day. Head Office credited 21,062/10/-
representing difference between face value and cost. Balance of
pr[...]e Note Issue Department British Govern-
ment Treasury Bills as follows:-
Face value £[...]te 13th July Rats. of discount £4:-:2 p.a.
Referring to our letter of 28th April No. 94 and our letter of 30,h
June No.1770 insurance market disturbed and any possibility of obtain
ing lower premium seriously prejudiced through numerous underwriting
companies receiving firm offer business at old rates direct from
1Wstralian agency, We understand several companies are cabling
saying would prefer business arranged here chiefly through difficulty
re-insurande in Australia on such a large scle. We recommend ef e
ing renewal of cover in London unL)ss you definitely prefer arrange
otherwise - please instruct us by[...]8.
Da ,d 14/4/2L
No. 597. Latest London market quotatio (ter deducting accrued
interest) of the 'ollowing securities are set out hereunder -
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (243)[...]24th April, 1928.

Per "Moldav a."

The Manager,[...]rote you last on 17th instant, and have not
since received any letters from you.

INSURANCE ON AUSTRAL[...]ing consignments of Australian Notes by steamer were made
between branches during the week ending Satu[...]To Per. Amount.
17/4/28 Melbourne Adelaide "Kanowne £176,000
:Melbourne Pt; th Itanowne 140,000
18/4/23[...]ALTH PU)LIC ACCOUNT.
Following on our No. 569 we have been advised by the

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (244)[...]7(
- 2 -
Treasury that the excess overdraft at your office wa caused by
Unforeseen heavy payments, but it is not anticipated that the
monthly forecasts as advised you in our abovementioned letter
will be greatly exceeded. Advances to the Western Australian
Government under the migration agreement no doubt accounted to


some exten[...]eeding their
estimate and it is probahle that repayment will shortly be math
to the Commonwealth Government from early instalments received
connection with the Vie6tern Australian Government loan, which
was recently floated.

LONDON BANKING ARRANGEMENTS - H.M. GOVERNMENT OF TASMANIA.
With reference to our No. 536 of 21st December
last, we have received a further communication from the Tasmanl an


Treasurer intimating that the arranged conference in London has
been ineffective. Gopies of correspondence that has missed
between us is enaosed for your information, and you will notic
that we have agreed, in the event of the Tasmanian Government
conforming to our earlier suggestion to settle the matter by
ar[...]ssary accounts and documents.
We have not yet received their decision as to whether they are
emabie but the Treasurer has advised us that the matter is
being placed before Cabinet and they will advise us further.
No advice of the result of the London conference
has been received from you and we cabled you on the 23rd instan t
as per readings.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (245)[...]-3
Your reply has since come to hand advising that the
conference has not taken place, and that you are awaiting a reply
from the Agent General for Tasmania on the[...]we hear from the Tasmanian Government you will be further
advised.


FORGERIES 0 NOTES - YOUR NO 464.
We note in your letter under reply that you quote
SAB.
the cost of the publication sContrefacons and Falsifications"
as 500 Belgian fran[...]drawn for £2.17.2 con-
verted at 34.98, me presuna the coot is 100 francs as shown
in correspondence received by us direct from the publishers.

MELBOURNE HARBOUR TRUST.
SAB. Melbourne Harbor Trust securities held by us for


approximately £750,000 mature on 1st July next and as it may not
suit us to renew and the Trust desires to go on with its works
programme, it is anticipated that the Tru t will probably
approach the market in the near future for a loan of £1,000,000.
We are enclosing an extract from the Trust's letter[...]t certain aspects of their
finance. As you are aware, the Trust's affairs are particularly
well conducted and of a total am[...]st in 1877 £4,097,000
has been provided from revenue.
The proposed issue wi[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (246)[...]S-La-39

'Extract fram la vtiourne .ar oor mE.s..,„„ u6t[...]n of the Trust over the last 15 years, 1)13/1927 are
submitted for your information.

Depreciatio
Year Revenue Revenue Surol Sinkin Renewals &f

•[...]Expend I tore Fund Insuran[...]2
119131 338,651 214,099 124,552 9,188 20.000 95,364
1914 359,917 `?,26 0 157 133,760 io,o58 20,000 103[...]041 10,415 20 000 49,626
1916. 322,674 234,329 88,345 11,364 40,000 36,981
]..)17J 320,295 256,064 64,231 11,747 40, 000[...])18 325,591 -23,555 102,036 12,000 40,000 5,036
1919 334,297 280,677 53,620 12,000 40,000 1,620
I1)20 390,502 312,293[...]5,709
1921 501,437 393,161 108,276 '5,000 40 000 43,276

'1922. 602,471 416,956 185,515 500000 50,000 85,515

1923J 692,136 375,290 316,846 1.3,000 8op000 103,846

1924 729,322 437,511[...]oo 78,811

1925 736,232 496,293 239,9:49 131,0u0 8o, coo 26,939
i
1926 759,933 498,378 261,555 133,000 8c,000[...]1927 31.
91667 0?,.191 *1,17 176 80,000 _ 104[...]829,274. 750,000 866,640

The Estimates for 1928r

Revenue • • • •[...]2750, 900
r Rev cope .3xDend1 turP • •[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (247)[...]Th Trusttz. vutstandinz Loans are as

0,41. . .[...]miciled
interest. Years

1909 2200,00C[...]20 1929 Melbourne, A.M.P.
1)13 150,000[...]10 1928 do. u0111-30/1wew-[...]7.6ank
1919 0110[...]aon 52,60C
192 450,001,[...]17132 lelbourne,Commonweal[...]Bank

1926 1 200,0 1946 uo. do.

192'71[...]0 (1.} 1928 do. do.

,?:777-66;Wr6

.i.rom t[...]oars
hall to he deducted half yerly rede:• tions amounting to £244,311
.61.nk1ng. .and £2,595, and. p—tion of L[...]wnict ,6)0.,300 v.11

proviGea /row ,Aevenue, the balance 21,5o8,%99 ben6 from loans.
The Capital penditure on ow Vorko site the
Tryst's inception to 3Li Dec[...]this loan arc necooaary owi ,:2; to the steady increlse of trade
in the tort, and the desire of the Com:Assl
- oners to make reasonable
provision for the future,and the ,i235,919 new loan money applied
for '.11.1 be required approximately as Iollows:-[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (248)[...]13th April, 1928


Interest earned on moneys deducted by Commonwealth[...]W.
Dear Sir,
Referring to your letter of the 5th instant, beg
to orm you that I have noted your undertaking on behalf of
the Bank tha[...]on in


possession of the Bank, relative to the above matter will be
at the disposal of this State's representatives for arbitration
proceedings[...]tory solution of the
outstanding differences between the Board and your Government.
Your assurance will be placed before Cabinet as
soon as it is possible to[...]u promptly.
Yours faithfully,[...]Treasurer.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (249)[...]PERTH 5th Agri 1928.

The Treasurer,
State Treasury
HOBART.
Dear Sir,
Your letter of 15th March has been forwarded to me here.
regret exceedingly to heat of the development in connection with
the above matter, as disclosed by your communication. At the time
of writing I have not before me any communication from our London
representatives.
It seems to me, however, that at this stage there Is no
need to await a communication from London. You refer to the
proposal which has been made that the m[...]s, but state you cannot accept such a proposal
in view of your assumption that your Government could not obtain the
requisite and complete discovery of the Bank accounts and documents
necessary to establish your Government's case. gather that this
is the on[...]uments, and information in possession of the Bank
relevant to this matter will be at the disposal of your
representatives for Arbitration proceedings, and the Ba[...]s a satisfactory
solution of the outstanding differences between the Board and your
Government.
Your letter indicates that your Government would view
with regret the necessity to revert to court proceedings, and l can
assure you that my Board vie of the :Aatter in the same light, and, as
already stated in a previous communication, it feels that a solution
of the matter should be possible without Court proceedings.
If you are prepared to accept the assurance now given ttx
all necess[...]u will advise me to Sydney to this effect so that further delay
in dealing with the matter may be avoided.
Yours fa ithfl ly„[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (250)[...].
TREASURY,[...]RT, 15th Ilarch, 1 2 8.

Dear Sir
interest earned on moneys deducted by Commonwealth Barx[...]MM

Referring to our previous correspondence on the
above subject, you will doubtless have received advice from
your London representatives that your proposal, to which
assented conditionally on 16th December last, for reference
of the matters at issue in relation to the above to the English
solicitors and counsel of the parties with a view to settlement
in Oonference has proved abortive, and that your London
solicitors thereupon put forward a proposition for arbitration,
which i have since considered.
As arbitration proceedings would not enable this
Government to obtain such requisite and complete discovery by
your Bank of accounts and. documents which it is felt[...]ly establish the position taken ups by the State Treasury
in the matter as can be directed under process in the Civil
Courts i am not prepared to adopt the latter suggestion and,
therefore, unless your Board is prepared to place before me a
proposal for a satisfactory adjustment of accounts in regard to
past transactions as to the interest in question earned since
the inception of the a[...]the
practice objected to and hitherto adoted by your institution,
the Government will be left with no alternative but to request
its London solicitors to carry out without further delay their
original instructions to take the necessary steps to test in the
English Law Courts the State's claim against the Bank.
'Should the Government have reluctantly to take this
course Ministers naturally will need to review the question of
the con nuance of the existing agreement between us in
relation to the management in London of the State's financial
operations.
shall be glad to have your early reply as our
London solicitors are now awaiting definite instructions
regarding, further action.
Yours faithfull-[...]Treasurer.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (251)[...]S-La-39

No.815. Referring to our letter 'o .836 Tasmanian State Government
advises conference in London proved abortive - your advices have
not been received. Please cable.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (252)[...]la boro Crodit oto No 61 or
jJo enclose copy of letter recolve6
nr borouLlh flrch undor date 19/4/21 to-othcm - ith co
our reply dated 2G/4/26.
:Jo ohould be clad if you w[...]d advioo u•
Yours fii thtuliy,[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (253)[...]677-
C 0P[...]26th April, 1928.

The M[...]Dear Sir,
FOREIGN BANKS. J
London Credit Note No.161 of 17/11/27 Draft
No.not stat[...]Germany fio Carl Rohde £68/8/7.
ame[...]Meglimaltsimoismor

We are in receipt of your letter of 19th instant
and note your advices.
You may credit Carl Rohde with the sum of £68/8/7
on lodgment of statement by him that such draft has not been


received and an undertaking to return same if received later.
In view of your advices the entry on London Office
Credit Note appears to colter a draft, but we are communicating with
them and will advise you further in due course.
'4e note, however, that there are no arrangements
with the German Bank autho[...]drafts on us.
Yours faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (254)[...]1st 1928.

LETTER NO. 578.
P e r "Oram[...]e wrote you fact on 24th ultimo, and have now
received your Letters Nos. 465 to 479 inclusive, of various
dates between the 19th and 29th March, 1928.

IMPERIAL ECONOMIC COMMITTEE. -. Your No.468.

The report of the Imperial Economic Committee[...]derstanding in connection with
thetransaction referred to, the cable was not despatched frok,
here until the following day. We got in touc[...]National Bank of Australasia Ltd. and at their request allowed
them one. day's interest on the amount which was paid to their

1

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (255)[...]- 2

Head Office in Melbourne. It will, therefore, not be necessary
for you to take any action. No doubt the National Bank of
Australasia has ere this advised their London Office.

E[...]of the


Assoc a e Banks pnclosed with your No.469.
With refer to advices to he sent to New York
Agency.,, in futurel the alterations in the rates - Australia on
London - will be advised to that Agency from here, and we will
thank you to cable our Agent alterations at your end (i.e. the
rates - London on Australia -).

Your No 471 and 479.
We thank you[...]fice for
the cost.

We were able to procure in Sydney, at a cost of
£1.-.3d. per volume, a few copies but assume that you may he
able to secure your order at a concession on the English retail
price of 18/-.[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (256)[...]in, consignments of Austra Ian Notes by steamer were made
between branches during the week ending Satu[...]Per. Amount.
24/4/28 , Melbourne Brisbane "Orungal" £395,000
27/4/28 Newcastle "Burwah" 68 000
28/4/28 clydney "K[...]Y CITY COUNCIL. LOAN OF R. 000 000.
Referring to your No.472 of the 29th March, we are
advised by Flinders $treet Branch that the letter covering
1111 of Lading in connection with debentures forwarded per
the Orvieto" was.despattated per the Tai4ti." The mails
from the latter vescel were expected to arrive in London on
the 28th March and the letter in question was presumably received
by you in due course.

INSURANOB ON AUSTRALIAN N
With reference to recent telegrams, we have to
advise that we have now[...]f notes in transit between branches, the rate of premium being
the same as that payable under our existing policy with Lloyds,
namely /3d. per £1,000 less
As you are aware, it is our policy to transact all
insurance business locally provided reasonable rates can be

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (257)[...]dig

obtained and we had previously intimated to the local Oompanies
that if they could offer a rate equal to that at present being
paid to Lloyds we would probably be prepared to accept such
offer.

All shipments up to 30th :une next will be declared
under Lloyds/ policy, after that date the ne[...]ikR'ZBANKC7ORO.A.TIA&SLAVONIA.

Our records have been amended in accordance with
your advices.

The specimen forms forwarded with your letters Nos.470
and 475 have been distributed ambnot our Bramhes concerned.

ImArR &

The authorised signataures enclosed with your letter
No.475 have been passed on to the three branches mentioned.
/7
BARCLAYS BANK LTD - Your No.475.
We note that supplement No. ► to Bar iays Bank Ltd.
List of S natures has been despatched per ease.

EDITO[...]LAILAgENTS -
The advices ta your No. 475 under the above heading
have been noted with interest.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (258)[...]T COY OF 'AIN YORK.
Advice has been received that as from 10th March
the Capitol Nat[...]TRUST CO. OF -TO:; YORI U

iir records have been amended as necessary.

THE BANK t-7-41 BISHOP & CO. LTD. - HONOLULUr7

' Reciprocal arrangements have been made with the abov[...]the negotiation of drawins under Letters of
Credit and for your records a copy of the relative correspondence
Is attached. You will note that we h[...]he
necessary specimens rill 'be forwarded by your Office. Please act

•[...]L CITY Ar OF 1:137I YORK . //
For your attention copies of let ecel ed from
the above are enclosed.

MX= METROPOLITAN WATER SZi::ELACTE[...]7.
DG. In reply to your chle of 27th ultimo, intimating ti,
it was reported in the London Press that the above Board was
sounding the London market for an independent loan, we cab_


you[...]hem or under their authority.
For your own information we may say that durinL, the

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (259)[...]S-La-39

last two or three weeks we have been closely in touch with the
Chairman of the Board, Fir. Cooper, in reeard-to the Board's futur
finances. Up to the present time and until he 30th June newt
their Bankin is, and will be continued, with the State Treasury
New South Wales who provide them wit[...]is is not a payable
proposition from the Treasury point of view, as they are themselv
paying over 5for money, this arr[...]he Board have been in negotiation
with ourselves, and, we believe, with others, to take over[...]dicated to them the
terms upon which, we are prepared to finance them, which are in
effect similar to those already granted to Sydney City Cowie


Greater Brisbane Couecil and other quasi Governmental bodies. Ou
terms are quite acceptable to the Sydney Letropolitan Water[...]inage Board with the exception of the rate of interest a
day to day overdra tsl 'which we have quoted at 6i,„ but which ,

owing: to the very adva[...]t they have had with the
New South Wales Treasury, they consider high. However, we are
not prepared to reduce the rate as such a 'step would mean a
reduction in rates to other similar bodies.

At a conference yesterday with Cr. Cooper he assured
us that during our negotiations they had not taken any steps to[...]nor would they do so until
negotiations were complete.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (260)[...]CABIA FROM LONDON.
Pied_ 4/4/28.
No. 604. Sugar prices Cubas B.96% polarisation 12/3d. nominal,
American granulated i6/, Canadian granulated 16/-0 Czecho-Slovak
granulated 15/lid., all per cwt. f.o.b., other prices nominal, April
delivery. Referring to our telegram of 20th March Melbourne Branch
B/N. 2507/8 has been paid. New York sight rate on London is 4.88-3/16.
Dated A/4/28.
No. 605. Weekly figures.
Dckte4 25/4/28.

• No. 606. Referring to our telegram of 13th April, shall be glad of
your authority to proceed with negotiations.
advices quote -
New York sight rate on London 4.88-1/16
Have every reason to
believe that we can secure further reduction in premium. Latest

Montreal tt 4.88-1/16
France T.T. It[...]124.02
Italy It ft 92.68
Czecho-Slovakia It ft
164-5/8
Germany (Reichmarks) 20.41
Portugal T.T. "[...]1/10-1/8


pated 26/4/4.
No. 607. Referring to your telegram No. 816 Head Office credited
£100,000. New York sight rate on London is 4.87-61/64.
Pied ?7/4/28.
No. 608. Reported in press that Sydney Metropolitan Water Sewerage
and Drainage Board are sounding London market for independent loan
issue - In view of tentative arrangements already made for handling
this Board's issue is it desired that we make enquiries? New York
sight rate on London is 4.88-1/8,
ed 2 28.
No. 09. Referring to your telegram No. 817 Head Office credited
£2000000.
ate4 304/24.
No. 610. Referring to your telegram No. 819 Head Office debited
£2590000 credited £75,000. Latest London market quotations (after

• deducting accrued interest) of the following securities are set out
hereunder
Commonwealth Government
N. S. W.[...]8:10: -
5% 1945/65 298: -;

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (261)[...]an'

• The Vice President & Ana
The Bank of Bishop 44 Co
11,01LU* EAAII

We dire to acknowledge receipt 03. your letter of
the 5th ultiLio and hay.a to thari4 you for the fc U ti which
you have placed at our di.posal
The name or your inttution will be added to our
List of ,
,,orrespondents for the encashment o drawings under our
Cireuiar Letters of Crit* *bile our Branches at
Melbourne Adelaide* Btictano Perth* Fremantle kue castle
and Hobart will )a instructed to negotiate drawings under
your Letters of Credit, The last n..—ed Branch was not mentio
in your letter* but as Hobart is the capit1 or thu Etate of
Tasani, and a popular toJrist cicwIntre you will, no eaubt,
consider it advisable to have the name of our Branch there
inserted in your sod Tist of Correspondents*
We shall also be plea d to att.. as your for
Coll ot on of any drafts which you ma,be able to sand. to 110_4
Our Lorldori, Office hsv b requested to furni h you
with a set of the nocesr.ary specimen .or an 1„!ynstures* and we
shall be glad it you will forward us el ht conies of thosi,1 ssued
y your goodseives*
We trust L'1'..Liait[...]ziderab e volume or business passiniv '',,,etween our rst cU v
institution,
Your., faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (262)[...]April 5, 1928.

H. T. Armitage, Esq.,
Deputy Gov[...]itage:
About two months ago when in your City, I inquired of
you if your Institution would include the name of our Bank in
your List of Correspongents under Letters of Credit and -au then
suggested that I write to your Bank on my return.
We would like to see trade between Australia and Hawaii
develop further than it has and we believe that the exports from
Australia to Hawaii will increase as time goes on.
Believing in the benefits of close contact with the people
of your Country, we have made a practice of showing parti[...]visitors from Australia, and it would he a pleasure
to us to assist your friends in enjoying themselves when they
visit Hawaii, 11 yourour information I enclose copy of the last Annual
Statement of our Bank.

We are at resent revising our List el Correspondents
under Letters of Credit and will be glad to include in our List
the name of your Bank at Sydney, Melbourne, Adelaide, Drisbanel
Perth, Fremantle and Vewcastle, if satisfactory to you. Kindly
advise us, so that, if agreeable, we can send you specimen forms
of our Credits and List of Signing Officers.
We[...]would probably not he large in amount
as at present there Is little in the way of exports from Hawaii to
Australia.

Trusting you can see your way to add our name to your


List of Correspondents, any. placing every facility or our Bank
your disposa1 am
Yours very truly,
(Sgd.)[...]CKBURN,
Vice President and Manager.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (263)[...]F NEW YORK
37 WALL STREET,
NEW YORK, Ma[...]AUSTRALIA.
Dear Sirs

We recently had occasion to check our files of control
documents furnished us by our banking friends for whom 'Ne act as


paying agents under their Travellers Circular Lettes of Credit.
We find that although we mention the name of your bank on our list
of correspondents used in connection with E.T.C. Dollar Circular
Letters of Credit, we have no control documents on file covering
your Sterling and other Letters of Credit and therefore conclude
we are not mentioned on your list of corresponcents.
In this connection we are taking the liberty of orPer-
ing you the facilities of our Madis Offiee ad our various brancha
as follows:-[...]Our New Address
Main Office ...... • • • • . • . • .(11 Broad Street, N.Y.C.)
"8th Street Office . • • • • . . • . 79 Madison A[...]Street, N.Y.C.
Importers and Traders Office P71 Broadway, N.Y.C.
Foreign Offices.
Mexico City Office ..[...]ion.
(Subsidiary Company). 6 Kiukiang Road
ti[...]Queens Road.
we hope you will see your way clear to avail yourselves
of our services and will be pleased to receive from you sets of
control documents for t[...]elected. We will
forward the documents to the respective offices as soon as re eivq1


Should your list of correspondents at present not be in
process of revision, we ask you kindly to pl.f,ce our name on file
until such time as your list is revised.
Very truly yours,
(sgd[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (264)[...]" 1928.[...]rs,

We do not appear to have in our files a copy of

your recent Signature Circular, and IL will he appreciated If

you will forward this to us,

Yours very truly,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (265)[...]rote you last on 1st insttnt, and h ive since
received your Letters Nos.480 to 486 inclusIve, dated 4th and


5th April, 1928,

LW: FUNDS. Fin' - Your No. 485.
LC The advices under the above heading have been
noted with interest.

SSIO'l TO AUSTRALIA RE DVEL0P11ENT,
.94 MIGRATION Your No.401.
LC Your advices are noted and we hope as a result of
your approaching the Government that the Bank will have the
pleasure of handling the Miszions s financial arrangements.

STORES - CREDIT AND LETTE93 OF NTRODUCTIOD./

LC Referring to your No. 481, 250 List of Correspondents

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (266)[...]We thank you for the advises contained in your -0.44
relative to this mat ter, and have suitably advised[...]with
::essro. John Griffin ` ons Ltd. of Kembla 3treot, Kingsway,
London W. . for the supply and delivery at our Note Printing
Branch of one electric hand drill,[...]'tinting Branch
advies that he does not know the pregent price but that it
used to '“E) about £2[...]sat re ults.
.
damping of the paper is one 6 of the problems of security
printing, it is important that our Note Printin_ I3ranch should
know of cny improved 4kethods of damping and we should, therefor
be glad if you could obtain Tram the Bank of h[...]g machines in queption.

BL. For your information wo ro at ach[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (267)[...]he whole of the promise to pay
and the signatures and also mutilate other portions of the not„,[...]should like
any notes forwarded by you to Lelbourne Office to be cancelled

on sombwhat similar[...]s is practicable, and should be

• glad of your advices in the matter in due course. Care should,
of course, be taken to see that the cancellinL; dbes not inaqv Way
interfere with the numbers.

TWISLI33 N OF LESSAGE3 BEAM Vi RELES3 SYSTMA AND CABLE
We refer to previous correspondence under the above[...]ich, do not embody money payments
via 3eam Viireless system. As you are aware, we are desirous of
utilising "Beam" as far as possib[...]is satisfactory. It is some time since we had your
report regarding the Beam system of messages received at your end
and we shall be 31ad to know whether they are now arriving in goo
order and in reasonable time. The few Beam messages we have
lately received from London have come through correctly and
we are led to believe that the difficulty in transmissio[...]o has, to a large extent, now been overdo
We prefer messages that do not embody advice regarding money pay-
ments sent via the above method, unless, of course, your report

as to the reception of our. messages is an adverse one.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (268)[...]BANK

A cor ii' . nt of 200 copies of our last half -yearly
Balance Sheet\was sent I rom ha[...]this method,we shall be glad if
you will, in future, supply t -% icy with their requirements

from your stock each half-year.

BRISB,'71fl CITY COTTO L.
Referring to our letter No. 573 of 11th ultimo, we are
enclosing two copies of financial statisticssupol[...]PU
We have noted the adviceo contained in your No.458 and
in the letter attached thereto from Portals Limited and
much appreciate their action in refunding to us out-of-pocket
expenses and in offering to replace the defective paper. In
this connection we append extract from latter received from
the general Manager of the Note Printi[...]"1 note that Messrs. Portals offer to replace the
"defective paper, the exact quantity of which we
"hold is 680 reams. No defects in addition to
"those I have already enumerated htive been discovered
"in the paper. The Dandy Roll is at present in time
"possession of the Roughway Paper Ellis who were the
"successful tenderers for the clapply of Poste Stamp
"Paper for 1928. Upon completion of auch contract,
the Dandy Roll is to e returned to the Official
'Secretaryto the Comilonw- th, London. get

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (269)[...]SIM

"therefore, that the London Manager he instructed
to communicate with the Official Secretary to the
"Comonwealth„ London, with a view to having the
"Dandy Roll made avail[...]Lessrs.
"i'ortals will complete the replacement at an early
"date, as I should like to see their re-make before
"a coptance of the tenders for 1929.[...]s soon as posA.ble.
Yours faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (270)[...]604
4ter iupiy and ,,,merao Board[...]716

7
Al.1100.110.1061140110111.1911.01041..."

Loss[...]Note: The above are the combined 1' igures of
t[...]bodies were not amalgamated until 2nd Anvil 1928.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (271)[...]S-La-39

No. 612 - Dated 1/5/28 Weekly Figures.
Dated /5/.
No-. 613. - Referring to your telegram No. 820 Head Office credited
£250,000 debited £178,000 - New York s[...]on is
4.87 7/8.

S
Dated Z//28.
Ao. 614. Referring to your telegram No. 820 Head Office credited
£50,000. Latest advices quote -[...]te ola London 4.87-31/32

• Montreal ;? 4.88-7/16
France 124.0e)
fi 92.66
Italy
CzPcho-[...]11 20.40
Germany (Reithmarks)
ft 2-1/16d.
Portugal T.T.
Calcutta " 1/5-63/64
H[...]Chefoo (China

pa d 4/5/28.
No. 615. Referring to your telegr611 of to-day, Eastern Bank Ltd.
offer E4:40 for £50,000 f.o.b. Fremantle, payment Lo_Ldon date of
shipment. National Bank of India Ltd. offer 7/6 discount for
10,000 sovereigns shipment 21st May Fremantle to Colombo, further
amount may be required during the next few days. P.O. Baking
Corporation will probably be ir market in about two weeks time as
we are advised they are shipping from Melbourne to-day. Referring
to your telegram No. 824 Head Office debited 03,000.[...]on London is 4.88-1/32.
ated 28
No. 16. Strictly confidential.

Da'eck 5,/5/28.
No. 617. Referring to your telegram of 3rd May, have discussed
with Harvey and Bank of England expert who recommend that notes
should be printed on mould[...]ing a distinctive 3


plane watermark to register in a window provided in the printed
des[...]Which should be as large as possible and not obscured by over
printing on back or front. Maximum difficulty presented to a
forger in a note Whose main feature cannot possibly be imitated
by single letter press or lithographic printing and such a note
mu[...]raduation only
obtainable in one operation by recess printing and there is little
doubt that plate printed notes desi[...]h to printing
lithography or letter press in protective color printing on back of

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (272)[...]POM DON.

Dated 28.
No. 616. Strictl confidential. Referring o our telegram
2nd May 821 - Camp on requests substituting words my retirement"
in place of "retir ng agreement" also wishes to make proviso
payment n[...]to pension fund.

Dated 7 5 28.
No.826. Strictly on identia . Referring to your telegram
of 5th Lay form of receipt dee ded b Board. Have no authority
to alter. Amount may b increased to x,000 at 31st May.

Olt[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (273)[...]ft £50,000
RS T.T.for credit o, this Off Lox!.
Pay to:-.
Ent,lish 3cotLish Sc. AustrDlic.m Ban d. the sum of re, 06,000
CitouL,erciai, Bkg. Co. of Sydney Ltd. U 64,000
Oueensland National 3ank Ltd.[...]s T.Ts. to the debit If this Office.
On end 7:2ay rece„..vo fro Yokohama Specie Bank 2„.1V • he sum of
£500 000 as a '2.2. for erealt of this Office.

l3oard contemplate coinp1z te is',1ue new paper currency.
uems rocurrenoe attempted for:ery prsent issue would seem
dioate vulnerability present issue owin almost entire
pondenco multicoloured engravin/ process resultant from
simplicity reproduction modern photographic development. Cost
h[...]dged paper
distintive clear watermark and multicoloured enzravinz combined
seems prohibitive.[...]r in light of Bank of England experiencelle would
recommend decitiO odzod paper tiestlaotiv6 clear watomark and
simple letternrese printinc aS aGainst mould made sheet
istinctive e ear watermttrk and multicolo4red enraging
Dated 4
No;' orrinc, to your o&le C10 plefl.Se submit offers
from India for purchrlse of gold $P' 000 to Z100 0 000. 10 oun
bars or oovoreigas available.

ay to The Union Ban):[...]tralasta Ltd . tile sum
£200 , 00eas a T.T. for credit of his Office.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (274)[...]16th May, 1928.

LETTER NO. 581.
Per ":1akur[...]e wrote you last on 8th instant, and have now
received your letters Nos. 487 to 491 inclusive, of 12th April.

STATISTICAL INFORMATION.

• BL We are forwarding under separate cover for your
files copies of the latest reprints of the following Act.,
covering the rat[...]1927
We are also forwarding a copy of the 1927
amendment[...]ge and Drainage Act
(Sydney).

SYDNEY HARBOUR viturT.//
BL We are forwarding under separate cover for your
files a copy of the Trust's last Annual Report (1026-27). From

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (275)[...]S-La-39

a regent statement in the press we understand that the Tim t
is to be given[...]lieu of beino
under Government control as at present. It is, therefore
pdssible that the Trust will desire to raise an overseas loan at
same :Later dae. We are not at present Bankers to the Trust,
but think it as wel[...]inc consignments of Australian Notes by steamer were made
between Branches durin the week ending Saturday 12th May,1928:-
Date. From. To. Per. Amount.


9/o/28 Melbourne Brisbane "Ormiston" Z10,000[...]o s.s. "Kiwitea n )
( on llth May, 1928 )
Melbourne Townsville "Ormist n 30,000[...]Perth 60,000
12/ /28 Newcastle[...].s. 'Fordsdale" )
on 14th May, 1928).
Tot[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (276)[...]TION OF WORN AND SOILED PAGES.
We are obliged for the specimens of Stevens'
shields advised in your No. 473, which have been received;
such shields appear to be quite desirable and would certain]
protect those pages of our Code which are frequently used.
The price, however, viz •- 1/6 per shield is somewhat excessi
as a similar article can be purchased locally at a cost of
1/-. In view of this we do not desire a supply of Er.Stevc
manufacture forwarded, hut will send to our principal branc1
a few of the local manufacture.

AGENCY ARRANGEMENTS/

kalillanaLlanLAILUEMEL2121P.S2 3.A.
We enclose herewith copy of letter received ftc
LC.
the above Institution and[...]Bank is identical with the
Allgemeiner Bank-Verein in Polen, with whom we already have
arrangements for the reciprocal issue of drafts and for the
encashment of drawings under our Circular Letters of Credit.

REMITTANCES TO RUSSIA.,
BANK'S PRIVATE TELEGRAPH[...]e been made for use between Capital Branches and your
Office:-

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (277)[...]-4 ON*

UKIEJI - Remit by telegram through Lloyds Bank Ltd. in[...]to be made to.....
UKIFF - Remit by telegram through Lloyds Bank Ltd. in,[...]0 . • a * * • *

St re0t040w04tMO 4. • • 0 * * • •[...]Ho use No...... 0 0 0060,00

Apartment or Flat No[...]been Instructed to exercise


special care in accepting transfers of this nature and, so far
as possible, all particulars necessary to complete the form
required by Lloyds Bank Ltd. will he included in the mess[...]These appropriations will not be used before the 24th
June, thus allowing time for our advices to reach you.

LONDON FUNDS &
LO The information contained in your o. 490 under the
above heading has been read with interest.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (278)[...]NK OF OMAHA.

LO With reference to the remarks in your No. 488, we may
mention that according to our records all Branches may issue
Demand Drafts on the First National Bank at Omaha (Nebraska)
reimbursement being obtained by their drawing on your Office.
In this connection we would refer you to your letter
No. 149 of 23rd April, 1920, in wh[...]te that the above
Bank would encash the direct drafts of Head Office and Branches
in addition to negotlatinf, drawings under our Circular Letters of
Credit.

Pending your further advices, we are not taking the

matter up with Ade[...]LC The specimen signatures referred to in your No.488
have been forwarded to our Capital Branches.

WIENER BAN VEREIN Your o. 480.
LC The necessary alterations will 'le made In our Agency
Arrangements and List of Correspondents.

T Tv.7E
COLL[...]w York Agent advised us J.P. Eorgan & Company desired that
funds for payment of interest and principal should h placed with
them[...]to the
estimated amount of coupons to be retired.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (279)[...]S-La-39

6

As this was the first Commonwealth G[...]flota-
tion in New York since the opening of our New York Agency,
we consider it essential tha[...]nd
in this matter, and we asked you to place yourself in touch
with Mr. Collins and press for funds lodged by the Government to
be pl[...]to othei. fiscal agents as coupons and bonds were paid by them.
The Commonwealth Treasury supported us in this matter and
requested Mr. Collins to co-operate with you in presenting our
case.

From your subsequent cables it appeared that if we
agreed to the original request of J.P. Morgan & Company, practi-
cally[...]ed
to Morgans and the National City Bank. We are glad to learn
from our New York Agent, however, that Morgans have now agreed
that the money will be evenly divided between the three fiscal
agents two days prior to the interest due date, and that any
unexpended balance will also be held equally. We gather from
your cables that you consider that, in view of the terms of the
contract, this arrangement is equitable.
Yours faithfully,

•[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (280)[...]ty of mak nr money
transfers to Australia we presently kindly ask to send us by
return of mail:
1. The list of your most favourable conditions or
abovementionel op[...]as for drafts.


The list of your Correspondents, to whom we shall have
to remit the cover of our orders.
Your last Collection Tariff as well as
Your Telegraphic Key for authentication of money orders
by wire
The list of your Authorised Signatures.
Lopin7, that you will kindly give us your most favourable
rates, we beg to remain,dear Sirs,
sincerely yours,


P WoZE[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (281)[...]No. 82g. Purchase 20,000 by cable transfer for our Dollar Account
with Canadian Bank o Commerce[...]r 28
No. 829 Aeferring to your telegram of 7th May, offer £15,000
Madras 7/0 discount aceepted,offer £20,000 not attractive. Referring
to your telegram of 4th May, as no steamer available 21st[...]confirm.

y.0.- 9W48u
No. 830. Referring to your telegram of 8th May, National Bank of
India[...]0 namely £10/000 Colombo £15,000 Madras. We are joint fiscal
agents with J. P. Morgan & Co.[...]ew York for
new loan. J. P. Morgan & Co. desire funds required for paymont
interest and principal placed with them to be distributed by them to
fiscal agents in proportion respective estimated requirements. As
we are Bankers for Commonwealth we hoped all such lodgments would be
made with us and we would reimburse Morgans and National City Bank of
New York for coupons and bonds paid by them as interest earnings on
funds pending payment would assist New York office appreciably. As
this is first Commonwealth Governm[...]ng New
York Agency matter of importance. Treasury agrees and is cabling
Collins. Place yourself in touoh with him and press our case.
Treasury advises'Collins arranging with Bank of Lngla[...]pro-


ceeds flotation from New York. Presume you are in touch.
28
o. 831. Referri.ng to your telegram of 9th May, shipments being
arranged. Would consider favourable offers further sales. On
14th May receive from The Union Bank of Australia Ltd the sum of
£100,000 as a T.T. for credit of this Office.
Dat d
No. 832 *[...]alia Ltd. £38,000
as T.Ts. for credit of this Office. Pay to
Bank[...]. to the debit of this office.

0. $33, Referring to your telegram of 11th May, York Agency now

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (282)[...]advi ?. organ & Co. sta ee arrangoL/ents are money to be evenly
divided between three fiscal age* ts two days prior to due date but
on due date to bu distributed to each agent according to respective
estimated requiremfmts. Please advise us by wire, also New York
direct, whether these conditions agree with original contract. New
York definitely advises proceeds will not be paid before 22nd May.

o. 834. Referring to your telegram of 14th !ay, Letters of intro-.
duct[...],000
as T. to the debit of this Office. Referring to your telegram of
14th May, National Bank of India Ltd., credit Note Issue Department
opecial Account 2150000, credit Read Office in account £56:51-. Referring
to your telegram of 14th May, New York Agency now advises[...]o be
held equally by fiscal agents. We have already offered to pay Goern-
ment 3% per annum on funds retained America, Bank taking risk of re-.
discounting at higher rate.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (283)[...]shipment 28th May
10 ounce bars to Calcutta, also further 100000 sovereigns at 7/6
disoount by steamer 28th may to Colombo. Will reply to your telegram
No, 829 to-morrow, presume you mean 225,000 not E20,000. 1,'e have
to -day debited Head Office E40 098:7:3 for transfer to your Dollar
Account: with Canadian Bank of Commerce, Vancouver, rate 4.1118. Referring
to our Letter of Credit No. 57 Sydney Office B/N 5,646 unpaid, relative
wool being sold 16th May for our account* Melbourne Harbour Trust
R. Nivison Co, think 5% 20 years loan El 0000000 could be Issued
not less than 96. New York sight rate on radon is 4 88 1/32

Weekly figures.

No. Referring to your telegram of 8 11. May ship t15,000 Madras
14th May, 10,000 Colombo 28th May. Referring to your telegram of
to -day,are we to submit further offer? Referring to your letter of
20th March estimated profit London Offi[...]00, Savings Bank Departmen t11 1000 estimated interest on Aus-
tralian capital May Juno 44 000. Latest[...]sight rate on London 4.87-31/32
Montreal 0 II e 4.88-1/8
Fra[...]2
Italy e If 1, 92063
Czecho-Slovaltia 11 164-3/4
Germany (Reichmarks) ft 20..10[...]0 "
Calcutta 0 is 1/6
Shanghai 0 ft ft 2 7 I[...]1/10 1/2

11/ 4
No 23. Referring to your telegram of 9th May, contract provides
that sum required for interest and principal bonds will be placed by
Commonwea[...]gent at least 2 days prior
to due date payment thereof. Notwithstanding strong representations
by Collins and myself, J. P. Morgan & Co. wish to adhere strictly to
terms of contract and divide money received In three equal parts with
National City Bank of New York,[...]d out proportion tely as coupons p id.
was not aware of terms above contract but am in touch with Collins
other matters. Referring to your telegram of 7th Mays have now
definitely arranged with Bank of &i.. land to receive proceeds of loan
here on 22nd May at the ruling rate on that day. Shoul[...]ds will have to be employed they
until 22nd May. Presume New York Agency can do this with safety, f

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (284)[...]S-La-39

tra) 623-4,29POL
necessary. New York sight rator Lando. z 4,88-3/16,
tqt
No. Referring to your letter of 3 „-.,'ebruary„ Le tars of
Introduction urgently required, when will ...hey be sent? Referring
to your telegram no. 831 Head Office credited £100,000. Referring
to your telegram No. e32 Head Office credited £338,000, debitod
£69,000. Received from National Bank of India Ltd. £15,000 plus
freight Z112:10:- less exchange £56:5:-. Please instruct 116 regard-
ing disposal. New York sight rate on London is 4.88d4/4

No. 625. Referring to your telegram or to-day, contr6ct merely
pro 1des that morloy for interest should b paid to fiscal agents
and is silent as to how it will be distributed. We should, there-
fore, only provide 1/3rd. of total as payment mucto. C[...]y possibly leave t5000000 New York to provide interest
payment July and September. Iam eaquiring[...]k Agency
if amount can be safely Invested there and probable rate of interest.
I
No. b2 Latest Londo market quotations (after deducting accrued
interest) of the following securities are set out hereand
Commonwealth Government 5 1945/75 Z98:15:
N. S. Wo Govern' 5% 1945/65 1:9;
Victorian Government 5% 194505 e98: -;
Queensland Government 5% 1940/60 E97: 15:
S. A. Government 5,4[...]amway Trust 5 1944/54 £97:10:
Melbour6 £102:10; -
South African Government 514 1945/75 £102: -:
We have to-day credited Head Offico with £13,750 representing interest
on securities held on account, of the Note Issue Department. Referring
to your telegr m No. 834 Head Office debited £61,000. New York sight
rave on London is 4.88-1/4.

Weekly figures.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (285)[...]18th May 1928.

No. 582

The Manager',
LOUDOY.
Dear Sir,
F
We are in receipt of your letter No.487 of the 12th
ultimo and note your advice 0.
We are pleased to have full information as to the
staff position in London" and under the circumstances are quite in
ccord with your action in appointing the probationers in
uestion.
Yours faithrull[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (286)[...]22nd May, 1928.

LETTER NO. 583.
Per "Chit[...]ear Sir,
We wrote you last on 16th instant, and have not
since received any letters from you.


..kg.....[...]elivery at the'
Note Printing Branch of 1,500 reams 10/- and 5,600 reams £1-
Watermarked Note Paper of the present size.
The paper should be packed 40 reams to the case
and the General Manager advise[...]y not
later than December next.

BRITISH TREASURY BILLS.
As you are aware, the General Banking Department
Sydney has made investments in British Treasury Bills from time
to time, the relative bills bein_ hold in safe custody at your

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (287)[...]-2 OW

Office. The present method of showing these bills as a direc t
investment on account of Sydney Office creates some anomalies
in our records and we are, therefore, contemplating transferring
them on London books.
Before taking action in the matter, however, we


should he glad of your full advices as to whether such action
would render the Dank liable to any additional British Income
Tax. We are under the impression that the addition to the grOS;
earnings of your Branch arising from such transfer would ,e
fully offset by the increased interest allowed by you on
Australian funds which would be augmented by the amount of the
Treasury Bills so transferred.
Should our understanding of the position he correct


you may immediately take the Treasury Bills into your books
under cable advice to this 0 flee. In this event Head Office
should be credited with the value of the bills at the date of
transfer, at the same rate of discount as realised on the
original purchase by the General Banking Department namely,
Treasury Bills £920,000 discounted at L4.0.20 p.a. £250,000
discounted at Z3.18.80 p.a.

OUR PRIVATE TELEGRAPHIC CODE.
Please no[...]been made for use between Capital Branches and your Office:-

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (288)[...]- 3 -
UGADT: Place to the credit of General Motors
Accept[...]h the Midland Bank Ltd.,
Haymarket Branch, London.
'The appropriation will not be used before say 25th
proximo, thus allowing sufficient time for our advices to reach
you.

INWRATIOE9NAUSTR4JAVNOTES.[...]ing consignments of Australian Notes by steamer were made
between branches during the week ending Saturday 19th May,1928.

Date. From. To. Per. Amount.
16/5/28 Melbourne Adelaide "Saros" £243,000[...]Launceston "Loongana" 30,000

• MELBOURNE HARBOR TRUST[...]£273,000

Referring to our No. 576 of the 24th April, we
cabled you on the 7th instant, asking the probable terms on
which the Melbourne Harbor Trust could issue a twenty year loan
of £1,000,000 in London. Your reply to the effect that Nivisons
considered a 20 year loan could be issued at not less than


9.6, was duly passed on to the Trust. Th[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (289)[...]-4 111111111

considered attractive and in view of your later advices
that Nivisons think it likely t[...]ntil July we propose to defer
approaching the market for the immedinte present. If
necessary we will arrange to temporarily extend our maturiN
loans until a London flotation is completed.
We were disappointed with the pricAr,of 96 quoted
et,

in your cables as the net proceeds to the Council 'on thi[...]y in excess of 92/0.
As indicated in our letter No. 576 above referred t
the Trust's finances are conducted in a very sound manner,
and there is at present only approximately £502,000 of the
Trust's securities on the London market.
We should he glad if you would stress these points
with Nivisons when the question of the issue price again
arises, as we are anxious that the flotation'should be made
on the best possible terms.
Yours faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (290)[...]6'0

CABLES TO LONDON.
Dated 1615/28.
No.835. Receive from The Union Bank of Australia Ltd. the sum of
L40,000- as a T.T. for credit of this Office.
Referring to your telegram of 8th May we particularly desire
obtain boot terms possible Melbourne Harbour Trust flotation consult
R. Nivison & Coy and[...]r early July.

Dated 18/5/28.


No.836. Referring to your telegram of 14th hay Commonwealth Govern-
ment advise :21 500,000 being retained America and we have instructed
New York Agency regarding investment. Referring to your telegram
of 17th May National Bank of India L[...]Ltd. Please advise.
On 21st May redeive from:-
The Commie Bankg Coy of Syd[...]Sydney Ltd." £300,000
as T.T.. for credit of this Office.
Dated 1915/28.
lo. 37. Receive from The Commercial Banking Coy of Sydney
the sum of £100,000 as aT.T. for credit of this Office.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (291)[...]CABLES FROM

Dated 16 528.
No.628. Referring to your teleram No. 835 Head Office credited
£40,000-. Head Office credited £250,000 for British Treasury Bills
matured to-day and debited £247,520.16.8 for L2502000- British
Treasury Bills due 16th August purchased at £3.18.8. Referring
to your telegram of to-day R. Nivison & Coy think it like[...]New York sight rate on London 4.86°-
Montreal 4.4815 16
ft[...]Italy 92.60
Czecho-Slovakia T. T. 164 13/16
If If
Germany (Reichma ks 20.40[...]Calcutta 1/6
ft ft[...]1/11 L-

Dated 17A/28.
No.629. National ank of India Ltd. offer 7/6 discount for
10,000 sovereigns Colombo by first available steamer Fremantle after
28th May. New York sijat rate on London is 4.38 3/16.

4110 Dated 18/5/26.
No. 630. Referrin6 to your tele)ram of to-day National Bank of
India[...]. New York sight rate on London is
4.88 3/16.

Dated 19L5/28.
No.631. Referring to your teleg No. 837 Head Office credited
£100,000-.
Dated 21/5/28.
No.632. Referring: to your telegram ;Io.836 Head Office credited
0.
Z300,00Natinal Bank of India Ltd. offer N discount for 25,000
sovereigns rremant,ie to Bombay 28th May. New York sigh[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (292)[...]:rTI .0 a a. 44

Referr1n7 ,r) your letter of the 1A11, Decenber 1ar3t,
Dlea37Ei, the[...]llows
"Londln 1,7anager s rort is vary Intere3t-1 ,T
rec-Irtmend that tphe L ndn anr,izer e asked to 42bt[...]h
The Trfnfer Yrcsnes hch we have at pre3rint wIll
be adequate for our rerultrernents;
Advertinp to ,7J,,)[...]o be a bar tt!) . 1)triet4s. - grind our
g'y.74-11 1n-7 •71,
117 there it are„ frthHe greater
' part:made in Australia', and: it it) vnry .d6oirab1e to
continue t do no. e s[...]a.lth Bask if
nerot7,atilnf•:•:• 1:;ere onenel with ir 1111am ':,aterlow

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (293)[...]-
personally.Prooably t:ley vig:IJ require a guarantee fro'
the Bank that the macAn[...]for the Oar, printing, T thould tAlnk there toald be no
objection to ,tvtng such a 'Ilarantee. However, I do not
reCommend that stenr be tat,ren ,n this direction at present
not until the negotiatilils with De In Ruets have
proceeded further, and a17z1tation is recelved.fr:,m
suggest that the London Ma[...]to ascertain and
: advise in regard to the pr)greso lade. by

regard
e have already clrmunIc ter, 1th you by cable v;ith/

•[...]De Is 71e iorrnany for the Auxiliary rachtnes referred
to abve. Thu eight also take ur --Ath 50 la[...]supplins ror the copner nlate machines atzf we agree ith mr,
Ash that It Is desirable that we f.1..,,ould cIntinue to grind our
On inks
2r. Ash'; remarks olncerning the pasib1I !ty of
obtaining[...]ns at a later date for
the var'ous machines, are net out for your infornation but we
do not desire you to take any act ton in this connection for
the ti'le being
Yours thf

•[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (294)[...]CABLE FflOI LO DOI

Dated 22
No, 633. :ent, Genera' for South Australia advises[...]f India Ltd. offer th discount for
10,000 sovereisno Fremantle to Colombo, 28th May, Commonwealth
American Loan transfer completed to-day proceeds reoeivod
4 1 5062250 at 4.88 02 apportioned as follows:

O Commonwealth Government...., • • 0 . 6 • •• • £3,390,088 6 6
Victorian State Government.. •*I* •00• £7610946 4 10
N .W. State Government.... 0 •[...]d tate Government. " £1 Olo 996 6 5
Victorian Aate Government and Net South Wales State Government
amount paid their credit Westminster Bank Ltd. At the request of
Bank of :land we have accepted in part payment £2,000,000 in
British Treasury Bills maturing '1st August held on our account.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (295)[...]Note iriztUn Branch hau
found it necessary to recommend that :two UAidi ti mita appointrae
Lar[...]enclose copiou of advertieenents 1,thioli vie de ire ya
mould invert in Britioh newspaper** Mz. a[...]U1RO en4lose tfeheriulc of infortiaion to be

furnitthed by pp1ioto* TiAta infarplation ohoulA be o[...]lieution torn for to you under cover oi our latter
):4 .335 dated 28th Ostober 1.92b. in[...]:Or
and ;tool. Plate „;neraver. ,Alere the ineormation tieeired by tLt
attached schedule of tittotitiono (ma[...]erlaps tit contained in the application form raw:bred
Lc laforwAtion, of course, need not also be LIAO= Oil tilO lattor

• 'rho Genera ',41, ,nil,gere ill of the ovinion that it, vola/lb
necessary[...]I) per ton= Des etiviy. and it 10
proposed thorerare urtiaatelty to mac thtise figures a a basis
for negoti4tion. It Lowever[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (296)[...]ould inrorm us a000rding y viion advisinG the
results of the tdverti'unt.
le should be ;lad to hoar from you in duo ooureu and
to have your reco,f3tiondation in re U to the applications
roocived.
'Yourø faithful y[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (297)[...]h Bank of Australia
Note Printing Department, Melbourne, Australia. Apply by
letter to the Manager, Oammonwealth Bank of Australia,New
Broad Street, London.

TI TO B[...]you have been employed.
Have you any Trade School or Institute training?
If so give fu[...]origlnati
Have you any knowledge of pure etching on copper
brass or steel? if so,[...]04,41.00,1010.40.00.0100two00.1

23rd May 1928.

8 Y- DN'vY

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (298)[...]14TRIC 1 14THE OPARATOR used to security work
required for Commonwealth Bank of Australia Note Printing
Department, Melbourne, Australia. Apply by letter to th
Manar, Commonwealth Bank of Australia, New Broad Street ndon.

•[...]have been employed.
Have you any Trade School or institute training? If
so, giv[...]out any designing or originating?
Are you capable of clearing and bending shells?[...]entric of lathe on
which you gained your experience.
Give details of any other of your qualifio tions
(sAgraving„ trans[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (299)[...]9th May, 1928,

LETTER NO.586.
Per t'Orsova."

The Manager,[...]wrote you last on 22nd instant, and have.
now received your Letters Nos.492 to 502 dated between the
13th and 26th Aprn, 1928.

MR. PHILIP PRING.

DG. We have given the above rrentleman„ who is a
member of the firm of Pring and Docker, 3to k and Sharebrosers
a letter of introduction addressed to you.
The firm of ?rin[...]business with the City Council of Sydney and the request for
this letter of introduction came to us throu.:,h the City
Treasurer Mr. S.H. Solomon.
We may mention that the firm of Prin]; and

• Docker are thoroughly reputable and are highly regarded in
Stock Exchange circles in 3ydney.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (300)[...]ing consignments of Australian Notes by steamer were made
between braildhes during the week ending Saturday 26th May, 1928:-
Date. Fron. To. Per, Amount.
22/5/28 Melbourne Adelaide "Fordadal„, £2C7,0[...]Rockhampton II 55,000
26/5/2p rl c:Idney[...]"Katoomb 736,000
( ” Hobart[...]IITSURNCE 'F AUST IAN NOTES. ,/
Acty, Referring to your No. 493 of the lith April, eneiosin
copy of letter from Meocr2. L. Hammond Coy Ltd. as advised,
appreciate the services rendered by Llessrs. Hammond & Company in
this connection and regret that the transfer of this business to
Australia has necessitated a severance of our relations with them
this matter,


AGE[...]We thank you for the advices contained in your let or
No.494. regarding the above.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (301)[...]Vje note the arranement made as per your ":4.o. 494 with
the above Institutions and are Dleased to see that. the
Zivnostenska Banka V.Pra[...]ount with you.
We shall glad of your advices as to whether arranse-
ments have been made for our Fremantle Branch to issue draft On
the Banca d'Americ[...]at Trieste and Abbazio.

NEVI K AGENCY - Your No. 493.
Your advices in this connection are noted and vre
are circularising Branches, as neceissary, although in 4 previous
circular the instructions regarding. Credit Notes to New York
were quite definite.
Please advise us of any further discrepancies of the
nature mentioned.

.:oURA,NCE
am

H ET NO 1 E5 D.JT40 Q.V. .6

The advice contained in your No. 495 are noted
with thanks.
Howeve we are at the present time (Loins into[...]definitely on the
points referred to, at an early date.

LO MON FUNDS & PINP'ICES.
:je
1 are obliged for advices contained in your iloo.495
and 502, and for the accompanying[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (302)[...]TS MITSUBISHI E1NK LTD.
We duly received your cable of the 24th instant,
advising that the Mitsubishi Bank Ltd. had applied for Wool
Credits for the commn yer for £600,000, which you had declined
Our approval, however, to credits of £100,000- at a time up to
a total current amount of £300,000 at any time, was conveyed
in our cable to you of 05t41 idem. You will, of course, advise
us the particulars of each credit as arranced, in the usual
manner.
ilaj[...]y the Midland Bank Ltd. has been
passed on to our Advertisirii Manager.

STOCK DEPARTLOIT .[...]We thank you for the statements enclosed with your
7n. 499, which have been filed with our records.

CITY OF 3YD11:77' POSED LOAN L2[...]of an early is:lue in London of
£2,000,000, Your reply of 25th instant advi,A. ,11,74t Niv#,10n.
recommend waiting until after lot July, has heen pas[...]e shall advise ,T-Jta of their wishes in due
course.
Al. intimated by. cabl[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (303)[...]VERNMENT NEW YORK LO'lI.

Acty We have received your various cb1es concerning
disposal of proceed[...]instant, at


4.88-9/32, and that at the reuer,t of the Bank of ]ng1and you
accepted in part payment Z2,0000 000- in British Treasury Bills
maturing 21st August. We understand from your cable that
these Treasury Bills are being held as your own investment.
With regard to your earlier cables enquiring whether[...]th New York
ent concerning the matter and wore advised definitely that
settlement would not[...]instant, we advised you by cable that
had offered to pay the Commonwealth Government 3p .a. on such
proceeds of the loan as were retained in America. Under this
arranement the B[...]own investments through the
New York Federal Reserve Bank. We were informed by the[...]at of the amount of approximately :)2,500,000
retained in New York '1,375,000 will be required on 10th July for,.
interest, and the balance will remain on deposit at our New York
Agency until about the 30th August. We accordingly advised
our New York Agent to this effect in order that he mi[...]ition to make the best arrangements pos-Ahle with regard to
investment of the funds.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (304)[...]26th May, 1928.

• The Manager,
ommonwealth Bank of Australia,
36-41 New Broad Street,
LONDON
Dear Sir[...]ssrs. Fring end Docker,
well known end highly respected Stock and Share brokers of Sydney.
Mr. Prin is pro[...]he Narkunda on
a trip combining business with recreation and would like, whilst
in London, to hav[...]matters which he thinks may be of mutual interest.
We shall be glad if you will extend to Mr. Pring your
usual courtesy and attention. Commending him to your good
offices.
Yours fAlthfu ii[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (305)[...]LONDON,

Dated 5/ 8.
No. 635. Referring to your telegram No.836 Head Office credited
0000 000 Referring to your telegram No,839 Head Office credited
£93,750.
Latest advice[...]on ond n 4.88 7/3,
Montreal U[...]92.69
Czech° ovakia 14 -41
Germany (Reidhmarks) 11[...]1/6
3hanshai[...]1/11 4
P.E
.119.114528
No.W. Referring to your telegram No.840 Head Office credited
a000 000-. Eltsubishi Bank Ltd. applied for wool Letter of
Credit for coming year of £6000 000 which we declined. I agreed
subject to your approval and after consultation with LoComas
to accept Letter of Credit £100,000 at a time up to current
£300,000 at any time.
New York sight rate an London is 4.88

No.637 Referring to your telegram of 24th May City of Sydney
last 5 ,/,; loan now quoted 97.77 after allowing for accrued interest.

to
Considerable proportion still in the[...]steadily absorbed by investors. R. Nivison & Coy recommend
waiting till Bonds quoted ex-dividend let July when they expect
net price will be better. Referring to your telegram of 22nd
May Hoes state prin[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (306)[...]30th May, 1928.
LETTER NO. 587.
Per[...]ments made with the above
Institution as per your No. 497. Branches are being tnstructe


to give preference to this Agent for business on Malta, Palestl
and Syria.

BANKERS TRUST CO. - Your No. 497.
The lists of specimen signatures mentioned 1.),:
you are to hand and will be distributed amongst our Branches
concerned.

ARZIMANOuLAU AND DEV[...]at this firm has opened an account in


your books.

WESTERN AUSTRALIAN GOVERNMENT[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (307)[...].44
Dated 29 5 28.
No. 638. Referr ng to your telegram No. 841 Head Office
credited £100,000 received to-day. Referring to your telegram
No. 843 Head Office debited £47,000- credited £6,000. Referring
to your telegram of to-day Note Issue Department Special
Account credited £35,000 Head Office £131.5.- National Bank[...]nk of India Ltd. offer
discount for 5,000 sovoreigns Orsova" 4th June 10,000
"Narl:undai 11th June Fremantle to Madras.
Sur Prices -
Cubas B/ 96;7 polarisation 12/-
Nominal[...]/-
,dzecho-Slovak Granulated 14/67
Continental Beet[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (308)[...]Bank of Alasia Ltd. £110000
The .6nr1ish Scottish & A/ia Bank Ltd." £142000
as T.Ts. to the debit of this Office.
Receive from The Commercial Banking Coy of Sydney Ltd. the
sum of £6,000- as a T.T. for credit of this Office.
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (309)[...]617,

Dated
No. 638. Referrin2, to your telegram 841 Head Office
credited £100 ,000 received to-day. Referrin3 to your telegram
;.;o. 843 Her,d Office debited Z47 1 000- credited £6,000. Referrin
to your tele,ram of to-day Note Issue Department 3pec1a1
Account credited £35,000 Head Office £131. Nat[...]nk of India Ltd. offer
discount for 5,000 soveretll "Orsov." 4th June 10,000
0 Narkunda0 11th Juno Prenant3,e to Madras,

Pric[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (310)[...]5th June 1928.

No.588

The Managers[...]1 6

As indicated to you by cable[...]houses have for sone years past bona making overtures
to the City of Sydney with a view to hand1in their.London
Loan flotations. The Civic Co-vicsi- mers recently asked our
advice on the question or seeking bids from[...]nd while we had indicated to =hem that we
were of opinion that they should continue to do their[...]through Nivisons we thought it az well to obtain your own
opinion and the spin on of the Bank of England on this matter.
Your cable advising that Mr. Norman Sir Ernest darve:
and yourself were. of the opinion that the ,,,nterests of the City
would be best s,rved by cont[...]Nivisons was pessed on to te, Critsioners with our strong
recommendation that this curse be followed.
annena hereunder certain Oily of c4 dney statistics[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (311)[...]5th June, 1928.

LETTER NO. 590.

•[...]wrote you last on 30th ultimo, and have now
received your letters Nos. 503 to 508 dated 3rd May, 1928.

IISSEIVOR, ON AAUSTRALIal NOTES. --[...]ing consignments of Australian Notes by steamer were made
between Branches during the week ending Saturday 2nd June, 1928:-
Date. From. To. Per. Amount,
2/6/28. Melbourne Brisbane "Ferndale £307,000[...]SYDNEY.
0.27.X.M..
We are forwarding under separate cover for use at

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (312)[...]-


your Office three copies of the fo11owtng publications relative
to the City of Sydney:-
Annual Report of Electricity Department lc)26.
Estimate of Income and Expenditure 192$.
Sydney Corporation (C[...]Sydney Corporation Amendment (Loans) Act 1928."

• INSURANCE ON. AUSTRALIAN NOTES FRQM POINT TO POINT.
Referring to your No. 503, the information desired by
you was forwarded in our No. 578 of 1/5/28 which will have
reached you ere this.

8AVINGS BANK DEPARTVENT - Your No. 505.
Your advices to the effect that the balance Of the[...]ENT OF TASEANIA.
With reference to your No. 506 and our No. 576 of
24th April, we are enclosing, for your files, a copy of a
further communication received from the Tasmanian Treasurer.
The letter in question is being considered by the
Board, at present sitting in Melbourne, and the Board's decision
will be passed on to you in the course of a day or so.

• LONDON TeU- '[..;[...]We have perused with interest the advices in your

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (313)[...]S-La-39

We note from your No. 504 that the name of the above
Institution ha[...]JUGOSLAV DISCOUNT MORTGAGE BANK LTD.
Our records have been amended as necessary.

,AAPEUUS PRIVATBAN11.
PRVA HRVATSKA r'TEDIOUICA.
With reference to your No. 504, some of our Branchez
have advised having received a 3unplementis,.-ued by the
Aarihuus 'rivat[...]t we may verqfy the supplementary lists of
signatures mentioned' please advise the date of those received
at your Office.

PERTI 10/D/R Io. 2905 H.H. IENNET[...]ay ng the above,
Fixed Deposit you calculated interest for 366 days.
As a matter of information, please advise why the
additional day's interest was allowed when the deposit was for
a fixed te[...]ths. We assume this is the usual
practice at your end.

DISTRIBUTION OF BANK t c"_BALANCE SHEETS - Ybur No. 507.
We thank you for returninp our Lailing List duly
amended.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (314)[...]S-La-39

We are arranging for the N York Agency to distribut
copies of our Balance Sheet to all our American friends who
have been receiving copies in the past.' In addition to th4
list which you are forwarding them, we are sending a schedu:
from here of the names still remaining on our flies (150


in number
In view of our now being established in New York, ou
Agent there will, probably require a supply of say 250 for
local requirements in addition to their mailing list. We
shall, therefore, be glad if you will arrange to forward
400 copies plus the number of names supplied direct by you.

Yours faithfully,

•[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (315)[...]X40

copy.
TrEiZURY
HOBART. 1928.

The Governor,
Commonwealth Danh
Pitt 3treet„
YDNLY. . J.
Dear fir
Inheres e mod on moneys deducted by
C[...]te the th
&d m, now have to inform you that ,fter further very care al
consideration by nisters and by u Goan el of t[...](I"- pute between
the Government and the Bank in reintion to the -ove and
notwithstanding your Board / offer of document and inform ion
in the event the differences being submitted for set lement
in th;t mann Jinisten, have finitely reached the conclusion
that arbitration proceedins n[...]ut probably in the and would involve delay and increased
exPenses, Further, our legal advisers both London and here
considor that the differences between the Government and the
Bans are too Vvortant andserious to justify reff,renoo of the
same to arbitration, and th it will - far betto take
action in the High Court of Jost c n
Un ess therefore your o, --)rep to submi t

+o me reasonable offer of settlement proposed to cable
instructions to London for the is-lue withoutfurther noti e of
necessary writs. The opportunity no[...]t p_ judice " and f your
rd will regard the Government decision n t _latter as 2inal
Yours f,ittifully„

Treasur

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (316)[...]LES FROM LONDON.
Dated 29 5 28 N . 639. Weekl fiwures.
Dated 30/5/28.
No. 640. Referring to your telegram No. 844 Head Office
credited 06,000.
Referring to your telegram of to-day National Bank of
India Lt[...]sight rate on London 4.88
Montreal " 4.89 41[...]Italy 92.66
Ozecho-Slovakia " 164 14:
5
Germany (Reichmarks) T. T." 20.40
Port[...](China) 1/W
Referring to your telegram of 30th instant, the answer
is yes. Letter of Credit will be similar to our 91 but drawings
will be at 60 day's sight. Mitsubishi Bank Ltd. state credits
involving retention control wool unsuitable.
Dated 31/5/28.
No. 641. Latest London Market quotations (after deducting
accrued interest) of the following securities are set out hereunder:.
Commonwealth Government 5[...]N. S.W. Government 5, 1945/65 £97 15 OW

Victorian[...]Queensland Government 5A 1940/60 £98 -
S.A. Government[...]st 5-1 1944/54 £97 10
Melbourne Tramways Bd. 5/ 1944 £93 15[...]New Zealand Government 5% 1946 Z102 10
South African Government[...]York sight rate on London is 4.88 1.
Dated 1/6/28.
No. 642. Securities totalling £800,000 held on account of
Note Issue Department matured to-day. Head Office credited
£8,400, representing difference between Face Value and Cost.
Balance of proceeds credited to Note Issue Department Special
Acoount.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (317)[...]MIR

No . 642 - 1 28 Contd.
We have to-day p[...]the Note Issue Department
British Government Treasury Bills as follows:-
Fat:Ai Value 2800,000
Cost 0920066.13.4
Maturity Date 1st September.[...]York sight rate on London is 4.88 A.

Bated 1 6 8.
No. 643. Strictly confidential. Referring to your telegram
of to-day Norman holds view strongly that all borrowers should
have one recognised trusted adviser of good standing and on t[...]Commonwealth Bank of Australia London Branch who are in a position
whenever they think fit to consult with Bank of England more
particularly regarding Australian Government Loan. Sir Ernest
Harvey thinks it would be a great mistake for Sydney City Council
to go outsi[...]uing house in comparison to
R. Nivison & Co - Refer our letter of,18th November 1925 401 and
our letter of 15th December, 1925,438.in view of the very adverse
press reports of the recent Council's doing it is essential
the Counc[...]the hands of people undoubted
standing and strength.

Dated 5/6/28.
No. 644. Weekly Figures.

Dated 516/28.
No. 645. Moreton Bay, Hobsons Bay and Largs Bay have been
handed over to new owners and pursers not retained. Do you wish
us to take any step to obtain possession and verify Savings Bank
records pursers. New York sight rate on Lon[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (318)[...]TO LONDON.
Pated 30/5/23.
No. 844. Receive from The Union Banc of Australia Ltd. the
sum of £36,000 as a T.T. for credit of this Office.
Referring to your telegram of 24th May, No. 636 assume
Mitsubishi Bank Ltd. Letters of Credit will be similar to yovr
cabled credit 91 or 23rd January. If other arrangements made
whereby we retain control of wool will be prepared consider
application for additional amount desired.
Referring to your telegram of 29th May National Bank of
India Ltd.[...]tly confidential. Sydney City Council asking
our advice whether they should remain with R. Nivison. & Coy or
whether they might[...]and others have for some years been making overtures.
Our own feeling is that we should not be tied to Nivisons and if
equally good services can be obtained elsewhere as a matter of
policy would be desirable to give other houses an opportunity more
especially in view of Lord Glendyne's age. Please telegraph
your views after confidentially consulting Bank of England.
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (319)[...]13th June, 1928.
LETTER NO.591.
Per "Laung[...]rote you last on 5th instant, and 'have now
received your letters Nos.509 to 517 dated 10th May, 1928.

BONDER ES BANK.
We enclose herewith copy of letter which has been
received from the above Bank 137 our Perth Branch.
Please give[...]OLEN VIARSAW. /
The above rent issued a draft No. 215073/37687
dated 26/3/28 for :,200 on our Melbourne Branch.
As the arrange[...]only, and neither the ,
advice of issue nor relative cover is yet to hand, we have

instructed Melbourne Branch to withhold payment meantime. We
shall be glad if you will bring the irregularity of issuing

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (320)[...]We do not appear to have yet received copies of the
specimen forms and signatures from this Agent.

SAVINGS BANK DEPARVIENT,
SUMMARY OF BU3INE33 TRANSACTIO.
For your information we enclose the customary copy
of[...]his
Bank during the quarter ended 31st March, 1928.

INSURilflCE 1 7TIALIAN NO[...]ing consignments of Australian Notes by steamer were
made between branches during the week ending Saturday 9th


June, 1928;-
Date. From, To. Per. Amount.
6/6/28 Lelbourne Adelaide "Jervis Bay" £331100([...]Perth 261,000[...]. ''', ;ENTATION OF MUTILATED NOT - Your No. plo.
We thank you for the des- patch of the verbatim
report of the judgment in the case against th[...]This, however, was not enclosed with
your letter, and we assume that it will reach u- by the next
mail.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (321)[...]versus

We than., you for the report in this connection.
We shall be g12d of your further advi es regarding the beam
cables in say, 3 months'[...]We thank you for the advices In your No. 517 0
which have been perused with interest.

C0rELTH 5 TAR CONVERSION & REDEMPTION LOAN 1928.

On 7th instant, we c[...]BO,, TRIM

Further to our letter No. 583 of the 22nd ultimo,
and to our recent cables, we have passed on to the Trust the
recommendation of iiessrs. Nivison that a'5% lean of £l,00, 0u
be issued now at 96N. 7je note that the issue of registered
stock is recommended, but we are doubtful as to whether the
Trust under its present Act has the necessary authority to


issue stock. On receipt of the Melbourne Harbour Trust'
decision in the matter we w[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (322)[...]RISBANE CITY COUNCIL.
We cabled you on the 6th instant, asking the prospects
and probable term[...]00 000
could be Issued in London: in the near future. As indicated Ir
our subsequdtt cables, we desire the Melbourne Harbor Trust
loan to come first in date of issu[...]the .
Brisbane City Council 'issue to be made before the August
holidays if possible.
With regard to Government Guarantee, we have discussed
th[...]d, he anticipates that if
Government Guarantee is required it will be obtainable.

CITY OF SYDNEY. -'
Referring to our letter No. 588 of the 5th instant, an
subsequent cable of the 8th Hem, our New York Agent advi es
that the bond market in America is abnormally weak at present
and it haso therefore, been decided to defer the proposed issue

for th[...]en we will again approach the London and American markets.
Should, however, a favorable opportunitypre went itself for
placing of this loan in London prior to that date we presume
you will immediately advise us.[...]N

Pending flotation of the loan we are providing the
requirements of the City by way of overdraft.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (323)[...]5c7 1

We do not appear to have received the usual statement
o receipts and expenses in connection with the Z2,000,[...]if you would forward copies of the state,lent for our
own and the City Treasurer's files.


Yours faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (324)[...]OSLO, iay 1st, 1928.

Commonwealth Bank of Australia,
PERT H.

Dear Sirs,
We herewith beg to offer you our services within
all domains of Banking In case of reciprocity on your part
our conditions will be in accordance with the lowest[...]find occasion to make
use o same
We are, Dear Sirs,

Yours faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (325)[...]BLES ti

.o. 645. Moreton Bay, Hobsons Bay end. Largs Bay have been handed •
over to new owners and pursers not retained. Do you wish uti to
take any step to obtain possession and verify wings Bank records
pursers?
NCw York eight rate on London, is 4.88l/8

Da *gi
No. 646. eforrinv; to your telegram No. 847, Lead Orice credited
£125,000.


Referring to your telegram of to-day, R. Wivison et Co.
quit,e prepared consider a corporation issue at any time, but as[...]d prfer to come
first - City of Brisbane, Melbourne liarbour Trust, City of Sydney
or Metropolitan Water L[...]New York 1..- igh- rate on 7.,7„....6,n 4.88-1/4
Montreal l' n ti
France[...]Cech° -Elovakia it II 164-11/16
Germany (Rolcbmcrk) It[...]Calcutta " 1/5 - 63/64
Shanghai IT ft 11[...]It 1/11-1/8

DAed
647. kJulject to your approval we e0.;,91)1:,ah a Documentary
Lrcdit n favor of Henry Caulliez in exactly 4nallar tetras to our
Credit 12 to the exteht of 000 000 available 30th June next year.
Record as our L/C No. 136. Red Clause .C250 000.
c4,JWLa.
No. 648. Rerring to your tel-gram of to-,..Ay wil' on
iZ[...]Yo rk."sight rate" on London
Lp ,ed 9
o. 649. Referring to your tOiegram of Bank of ag and
considering and will reply Monday.
Referring to your telegram of 2nd iay , flannelet e only
quotation to sample 9id. horrockses Crewdson delivery commences
about 8 weeks[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (326)[...]ay(

Fr nk Ltd. mentioned In your letter 48 7. Telegraph ins tructions,
ii 6
050, liefrrinE to. ,/our te1grw of 28th M, , Gold shipment
credited to No Issue De. artment Special Account 1,25,000 and
Lead Office 193/15 -. Referring to your tlegram. No'. 8$1 "lead
Office credited. .H3 000 and debited £18,000. Referring to •sour
telegram No. 84 2 Read Offce credited. 175,000,
7.. ,:' Yo'k "sih,t rate - on London is 4, 8-1/4.
1 6
No. 651. Confidentitl. RcftrrLn to your telegram of 9,n Jun,
Bank of Enzl, d aJvise position completely aitcred owing to large
importation f frr)m by 1-ig English Bank £4,030,000
recivcc. £3,503,000 to come during next fortnight will probably
:'ore to folio-. ttm ld be go to America they are
prt-Tred to take it on following basis excluding freight and
provided extra cost doez: not exceed ""' 6' ',A.;, „ Bank of Engl,nd to Day
half of nett cost on firt 41:500,000 and quarter nett co !,'t on
fur r £500,000 :yr.qt,01,1t, rr4„ o _don
fl te&LLt 6
No. 62. Confidential. As City of Brisbane wish to come before
August holiday, R. Nivison & Co. recommend isrAling:Uelbourne natbour
Trust at once. They mggest 54 at issue price 96t. Stamp duty
on Bonds being E. 2 - they recommend registerd stock Stamp' duty
compounded at 2/-. p[...]•
each half-year .as. was done .by k'-ibourne an tletropoli,,tan Board of
Works, Exper[...]oan at a price not exceeding par and :accrued interest,gelbourne
Harbour Trust r'gi stoc1. issues ane payable in. London and the
interest thereon the property. o*.f: pcIrv.,On(E) not domiciled in the •
State of Victoria are not and will not he subject to any taxes
duti[...]Please confirm (message ends)
think price 96i is good one as 'Melbourne and lie. ropolitan Board.
of Works quoted 961 Allowing for accrued interest.

65. fi,,., es.
Dated 28.
No. tc4. Re1erri.n1 to your te1gram No. 853 Read Office debited


£1,', • 000,[...]ondon is 4,88-1/8
Confidential. Referring to your telegram of to-day
Bank of England will accept used soiLreirns not more than 3 grain.
(Troy) lighter than stan[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (327)[...]S-La-39

Dated 13/6/23.
No. 655. Tieferl ng to your telegram o. 051 Head 0 flee
credited £203,000. Ref erring to your telegram No 354 Read
Office credited 11 ( )3, Our Letter of Credit 3ydney
B/N 6047 unpaid.
Latest advices quote:-[...]irlat rat, on London 4.38 3P
Uontreal 4.89
Fran[...]Czecho-31oval-Aa 164
Germany (Reichmar 20.43[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (328)[...]CABLES TO ONE N

P4tP4 -6 6 28.
Referrin to your telegram of 5th June No. 645, please
tako over passbooks date stamp and all stationery and endeavour
to arrange with owners for similar ziervic as the ships will k.praue
as heretofore,
City of Brisbane contemplate issuing loan £10000,000 to
cl 50n 000 in the near future. Consult Nivison and ascertain
whether present time would be opportune to issue such loan in[...]advise probable terms. ayor of 3r1 Nine at preL.ant
in Sydney end would like information before he leaves Friday.
d
Nqt_ $41.
We have agreed transrer for Wtert Australian itat,e
Government £125000 6th June)4C125,000. 30th June exchange being
ad[...],_81ta, Commonwealth 5:ii% War Conversion and Redemption Loan 1928
opens Thursday 7t4 June for receipt of cash and conversion
applications. Alter or of previous Loan and receive applications.
Loan closes 14th September 1928 but Treasurer reserves the right
to close at any time before that date-, Price of issue E98/10/-r4
Ra[...]maturity
dates 1935 and 1942. First intereLt on cash applicationv will be
paid to subscriber 15th September 1928. Cash is payable in full
on applicat[...]balance in one amount up
to 14th September 1928 or 1O, on application 25' );_, on. 2nd July. 1928
. 25;4; 2nd. August 1928 and 34% 14th ;September 1928. Converters
receive on. 15th September 1928 bonus of i1/10/-% en .amount converted*
Usual six months' interest at 5% p.a.. will be paid on 15th
September 1928 on amounts surrendered for conversion and thereafter.
at p.a„ first payment at this rate being 15th March 1929.
Coupon due 15th September 1928 shoul be detached. from Londs
surrndered for conversion,
Referring to your telegram of 6th June, credit approved.

R eferring to your telegram of 6th Jun., No.646 we
under stood from your telegram of 25th May that conridereb e
proportion of City of Sydney Loan was still in the hands of under
writery undiusted and that, therefore Nivion preferred not to
handle another Eydney isue thic, mont[...]•
Sewerage and Drainage board not in the market at present and of
other two Melbourne Harbour Trust should come first. You advised

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (329)[...]2

terms for 11''lbourne Harbour. Trut would probably be better if
issue d'ierred until early July. Does this still hold. good?
If Melbourne larbour Trust Loan issued shortly could City of
Brisbane come therafter before August holiday'?

addition to small sal4s. to India we ti3,re prepared sell
£1,000,000 for shipment to England, freight paid by u here..
AscELtain whether Bank or :England prepared to xake offer. Shipmont
to be made by Commionwealth ster leav*ng Fremantle about
15th June,

Bank[...]lia Ltd.
the sum of £30000 as a T,T. to the credit of this Office.
Receive from The Commercial Banking Go. of Sydney Lt[...]3th June, Z3000000 15th June as a T/T to the
credit of this Office.

Under to-da[...]ssue Dent. Special Account'
£75,000 for the credit of Head Office in account.

Com[...]e.
Confidential, het erring - c your telegram of 11th June[...]would Bank of F 1a 1 . ceept used gold no more than 2 sovereign
l'Ot per £1,000 or is offe- for full weight sovereigns only?

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (330)[...]Net Result Interest
Increase in Depositors' Credited to[...]X Decrease[...]209359 2,754,213 5 7 2 435 2,862 603. 9 6 8,61 1 14565 8972 343, 423 10,724 534 5 5

VIC[...]4,149 410 3,952 6666 3908 .174,275 5,862,210 9 2

QUEENSLAND.. 324199 5,111,977 18 3 320689 5,174,435 5 62/457 72 12,186 3 4 6035 11156 453, 224 22 465,947 19 8[...]2040 1698 63,653 2,351,418 5 (
di 34863 566,357 1 36651 611,583 2 4 x 45,226 14 1,626
TH AUSTRALIA[...]783,157 19 4 54017 720,877 n 10 62,280 76 1,952 9 3698 1910 87,982 2,823,503 19[...]• •
28964 299,684 12 I 23141 278. 78 506 8 11 6o 14 1634 950 6,65i 3.564 601 5

NORTHERN TERRITORY 1230 26,377 17 , 3 1036 21 4,686 212 - 123 150[...]40,232 310 9 34, 03 3.5 6, 228 8 171'[...]• •
2160 96,198107 3478 90,284166 5,913 339 310 265 6,723 358 367.

7613.68 11 152,929 16 9 751.946 4264,450 - 8 X111,520 29,645 45248 29107 1,198,627 46,32 6 12

We certify that the above Statement, compiled from returns furnished by the several Offices of the Bank, is correct.

Secretary.[...]Sydney. 8 th June, 1928.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (331)[...]16th 3une 1928.
No. 59

CONFIMNTIAL[...]f C.A.B. CAMPION s(
We are in receipt of your letter No.514 of the 10th
utimTh ezr.....,7 -3..osures as advised.
In this connection cabiEls---to and from Y. Campion
have passed direct as under:-


1 28 Pram C.A.B. Cam ion
"Private. Regret Bank here will not comply with
arrangements suggested in your telegram aith April
unless my receipt embodies a reference to an undefined
agreement which conflicts with the arrangements
suggested in your message."

8 To q414111._gaMaPn
"Form of receipt was dictated by Board. My personal[...]n as such action
will not prejudice consideration by Board of your
further request."
28 From C.A.B. Cam ion
"Private. Very grateful am acting on your suggestion."

We presume therefore that the matter has been conclude.[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (332)[...]19th June, 1928.

LOVER 110. 593. •
Per "Cathay.[...]wrote you last on 13th instant and have not
nines received any letters from you.

INSURANCE ON AUSTRAL[...]For insurance purposes we have to advise that
there wore no consignments of Australian Notes made by steamer
during the week ended Saturday 16th June, 1928.

LOMILDNEIELA2m2gEMENT3 GOVERNMENT OF TAT N IA
ith reference to our :To. 590, we enclose here-
with copy of *our reply to the Tasmanian Government dated 16th
instant.

As mentioned previously the letter ftom the
Tasmanian Government of 26th-ultimo, (copy of which has already
been sent you) was the subject of further discussion Ix: our
Board of Directors at a recent meetinc, and it was decided that
in view of the stand the Government had now taken[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (333)[...]L Rio de Janeiro, lath April, 1928.

Endereo Teleg,,aphico
"Satellite".
Fef.:[...]We i±ould like to have you 2Tive us your authority to
include, among banks quoted as paying agents for our Letters
of Credit, the Head Office of your honourable Establishment and
its Branches at Albury, Broken Hill, Canberra, Dubbo, Lismore,
Newcastle, Brisbane, Rockhampton, Adelaide, Hobart, Melbourne,
and Rabaul.


With our thanks in advance for the kindness with
which you deic.n comply with our wishes, we beg to inform you
that soon after we get your •:!onsent to the above mentioned
effect, we shall send you in due time, for your guidance, copies
of said Letters as well our books of specimen signatures
respecting them.
In this meanwhile, we remain
dear Sirs,
Yours faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (334)[...]a-39

4.4618

COPY.

SYDNEY, 16th June, 1928.

CONFIDEN444.1.

The Treasurer,
State Treasury,

• Dear Sir4
HOBART. TAS.

Interest earned on moneys deducted by Commonwealth[...]w. ..orrOMO.

acknowledge receipt of your letter of 26th ultimo.
Whilst regretting your refusal to submit the matter
in dispute to arbitration, and whilst reiterating our regret

• also that it should be necessary for two Governmental
Departments to resort to the Law Courts, I am directed by my
Board to say that your letter leaves them no alternative but to
defe[...]uted.

Yours faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (335)[...]ork 3ight rate on London 4.
ed
No.657, Latest London market quotations (after deducting
interest) of the follovincs securities are set out hereundr:
Commonwealth Gave rn-c,lit[...]3.W. Government 1045/65 £07 15 -
Victorian Government[...]5 £98
Queensland Goverment 31;6.3 1940/6u £98 - -
3.A. Government[...]5 4', 1944/54 £97 10 WO

Uelbourne Tramwais Bd. 5i4 1944 £94[...]New Zealand Government 5/.. 1946 £102 15
3outh :Ifrican Government[...]R. Nivlson & Coy advise that suggestion to delete reference to
purchase on London maret is not acceptable. Yarltet attach much
import4noe to investment 3111Inc ALLA in London. They regard
alternative suggestion of 2,. without that condition as of little
or no value to subscribers of loan. Referring to your telegram
No. 851 Head Office crocqted Z300 00:). New York sight r-ito on
London is 4.88 7/32.

Dated 16
No. 658. Referring to your telegram of to-day depositor," balnn
9th June Lon[...]74.1.10 3trand Branch £352,782.13.1
Total Z445,756.19.11 - Referrinc: to your telegram of 16th June
we are making enquiries and hope to r*ply to-morrow. New[...]tial Nivison v- Coy advise advertisinj, Methourne
Harbour Trust Wednesday close Friday. Referrin7 to our te1eram
of 25th L:ly City of Sydney 5-!,;,, has steadily advanced to 981,, allowin
for accrued interest R. Nivison & Coy ml ht now consider ques[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (336)[...]S-La-39

nated 1E2/18.
No. 660, Melbourne Harbour Trust debentures required 6000 at
£100 numbered 1 to 6000 and 800 at £500- numbered 8001 to 6800,
first coupons to be dated 1st July 1929„ principal to be repaid
1st July 1948. Onstalment due 26 29th June, 35g 7th August,
3Et 10th Septem[...]uaranteed
by Queensland State Government. As market will be occupied with
two other loans not Australian after Melbourne Harbour Trust,
Brisbane City Council cannot come before End week of July. Will
cable regarding bydney City Council in July. New[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (337)[...]TO LONX:,1.

Dated 13./6/28.
No. 854. 'Receive from Union Bank of Australia Ltd. the sum of
£11,000 as a T.T. for credit of this Office.
Referring to your letter of 17th November please place
order Lewis[...]s delivery not later than September two
tons Frankfurt Black Dry colour similar all respects previous
supplies. Referring to your telesramsof 11th and 12th June
Bank of England offer is accepted 1,000,000 lightweight sovereigns
being shipped to Commonwealth Bank of Australia, London, by
"Jervis Bay" leaving Fremantle about 15th June average lightness
does not exceed grain per sovereign but time does not permit
individual weighing. Any sovereigns under specified weight
to e taken at bullion value. A.11 advise shipping costs shortly.
Dated 14/6/28.
No. 855. Referring to your telegram of 11th June Melbourne
Harbour Trust no power issue stock but accepts price 96ii for
debenture issue Sinking Fund Clause approved. Purpose of -loan
£764,000- redemptions £236,000 new capital works. Will adiriee
later date of[...]se advise date of issue.
Would suit if proceeds spread from 1st July to 10th September.
Dated 1516/28.
iTo 856. Referring to your telegram of 9th June flannelette
accept quotation 8d. Barlow and Jones.

Dated 15A/28.
No. 857. Referring to our telegram of 14th June LelleournL
Harbour Trust strongly prefer sinkin fund clause should merely
state Trust provides a minimum Sinking Fund of l on all its
loans. If necessary Trust will increase Sinking Fund to 2;i;
per annum. Please delete all refernce to purchase on London
market. Free of taxation clause approved.
Dated 16 6 28.
8. When recently in London Eva and Sanderson informed
me freight on gold to London would if necessary be reduced to
same rate as America j5. We approached Commonwealth Line regard-
ing shipment £1,000,000 but after cabling L[...]is prohibitive. Please take matter up and cable result.
Proposed shipment deferred pending your advices - advise Bank of
England.
Armitage.
Dated 1&6/23.
No. 839. Cole total depositors balances savin[...]that
date. Advise Strand Branch similarly. Referring to your
tele:ram of 15th June Labourne Harbour Trust agrees to 3inking
Fund clause suggested by R. N[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (338)[...]56)4
a

The Lnar ,[...]I NO 7•,,,5 • '

In your roturn of above you show

initiation of :Ir. Note N0.75 tY,3 Z.V17/f 5trand3 re ponse

to th S it On however, apoirq..1 a[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (339)[...]ote you last on the 19th instnnt and have now
received your letters Nos. 516 to 622, dated 17th May, 192$,
which will be replied to next mail.
MELBOURUE HARBOR TRUST.
B.L. Referring to our letter No, 591 of the 13th instant,
we cabled[...]er to issue stock, but would accept the price of 96
offered by R. Nivison & 0o, pany for a debenture loan. We note
from your cable of the 16th instant that the Trust's
suggestion to omit from the prospectus reference to purchase
of securities on the London market would not be acceptable, and
after further reproSentation by us the Trust r to the[...]"-3
Sinking Fund clause as outlined in your cable No 5620 this
advice was passed on to you on Ufte 18th instant and we have now
received your cable advising that the loan will be advertised[...]n two day's time.
Yours faithfully ,[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (340)[...]64[...]Theo(Oric: .LIQTLY.Lita i

Atifetrin6 to Circulr .,:lomorandamNo. 4 It i noted
Litat.thc; above ai:fiQer . or youk otrie cveuttainQti or are
uvtAt to attain tile a6e (5Q yers. The. queztiou zi‘a to
hotter 44:offioeguro to remii i t.no -Ilervvo of.the LL4flL•
41 if uol,[...]or
the 3oaU's deiI)ion ealao4.Li ue 6:1.4L) iitore your
reoamucrulatio in .;:ac,7ad
. to each offloer ounoome.
YOur rqkk..4 y bti ou conaWer it
ULi.ude o[...]inuc t
of the olficer na, iLiuch ovent lon6t4 tiaw lox'
yo recortnek;6. 'Ountinuance.
,41en furaardin your recumnonuatiJn you
aubmit any represuntutionz :41.04 t4e offiur afft;-teu. m4y aeire
to mizo on the matter.

0,4

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (341)[...]02 e 1928
Ttrzyt NO. 597.
atrwilmonua[...]last on the 20th instant, and have nol
since reoeived any letters from you.
BAr's ItICOME TAX YOUR NO. 520 /
oopy of your letter to the Inspector of Taxes of
12th ultimo is to hand with thanks, and your advice° are not
NOTE PRINTING BR TCL STORES = FLANNELETTE ,.
BL We note from your cable of the 9th instant that yo
were unable to tram) the firm of sere. Pranklins Limited
mentioned ta our letter No. 487.
tn this connect[...]er of the Note
Printing Branch advises that your office had settled for two
previous shipments from this firm, one in November la[...]mention this fact so t1
you may, if considered advisable, call for tenders from thie
firm when future supplies are being obtained.
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (342)[...]I.. BANKING CORPO
We note from your No. 521 that a supply of specimen
signature lists of the above Bank has been forwarded us und[...]copies of circular issued by this Agent has been
received and our branches who cash drawings under their Letters
of Credit have been suitably advised,
BANCO DE SAO PAULO[...]with the
Issue of Drafts by the above Bank, and are suitably advising
Canberra Branch.
LQNDQhJUNps AND FINANCES '
Statements forwarded with your No 522 are to band • and
we thank you for your advices under the above heading

We desire to draw your attention to the fact that we
recently received from you two cables nuWbered 650, and a
similar happening occurred with your cables of the 21st instant
(No. 682). Please draw the attention of the officer
responsible to the discrepancies.
UBLICATIONS FORGERIES OF NOT
BL Referring to our No. 5760 we enclose herewith duly
completed form of subscription to the publication "Oontre-
facons et Falsifications."

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (343)[...]blishers in Bi.ussels pointing out that we have already
received the binder for the 1928 issue and that the special
bulletins are being received by us regularly. Theform s
to be taken as a request for annual renewal from 129 onward,
and you might make arrangements for the subscription, at
present 100 belgas per annum, to be paid through your Office
each year. We would also like to have the 1906 and 1927
collections if copies are still available, Please draw on
this Offi[...]Pratt in this connection.
Yours faithfully[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (344)[...],
da.
No. 7 Referring to your teiegrum of to-day, ,. pivi.,on &
Coy only reason ror assuming Bri:--Apane City Council Loan would
be guaranteed was that New York ills were ,.io guaranteed. They
have never sugge;Aed Go[...]W:w York sitht rate on London 4.83 1/16
Montreal n n n n 4.89 1/16
France T.T. " " "[...]Czecho-Slovakia IT n n 165
G e rra any ( ri ei chmariic..,-;[...]ta II ?I It I_ ,/ 5 57 / 64
r[...]" " n . 1/10.74

Dated 21 6 .8.
No. 66. ubj et to your approval we establish a Documentars
Credit in favor of Amonius Viseher & Coy. in exactly similar
terms to our Credit No. 1Q5 to the extent of £100v,o available
31-gt December. Record a our L/C o.14O. Red Clause full
extent.
nited
erring to our lct,, r of p5th April No. 4D0,
that 17; the position? New York sightrate on London i 4.87.15/
16.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (345)[...].v61 g

22nd June 1928.

Ni 0598


The Manager,
LONDON.
Dear Sir,
JIEIr3ouRNi HARBOR TRUST LOAN OF 000 000
We received your cable of the 19th instant etting
out the[...]l be payable,
and the denominations of debentures required, and this
information has been passed on to[...]k


arrange the flotation is enclosed herewith.
BRISBANE CITY COUNCIL /
3e note from your cable No.660 that it is not
likely that the Counctl t s reposed loan will be completed before

the second week in July and we now await .your further advices
as to the probable terms. As[...]As indicated to you by cable, in view of the fact
that . Government,Guarantee has n[...]with London issues by other Municipal bodies we prefer that
the matter should riot be raised in c[...]ith the
Brisbane City Council issue. As previously advised we could

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (346)[...]T?R 5'RV'T C

reby autor • s e the C 11-[...]arrange a loan in London for the amount of 6,2,?? nino,ono of

which. the sum of 0764,081 is renuired for redemption of th:::

balance of loans maturinF in Melbourne on let July, 192E, and

the balance for[...]Thr.,3 loan will be secured- by debentures j7c:ue,(.1

under the rwthorit of the "Mellourne harbor Trust Act 26g7

se amended 1o7 Melbourne Harbor Trust Acts ",,1-29 and 496.

r ;j
r (71,(77' ,1.,
nf the

M.-ELBOURNE HARBOR T RUST

CñIlI3SIOiLLRS was. here

unto affixed this 20th.

day of June, 1028

in the rrescnnT
0
100

G. F. Holden[...]•••••••• ***** • • • ....SECRETRY.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (347)[...]NO':;11
atom,1. ,to nr cab e tIo.6 .2 of th rd u (a the
Board[...]3:Jolzid be glad if you
amid secure a good nhotogranh of a La ' bmt (Guch as is
found[...]. o Prince or 00
recentphotominph of rl.r. the Kin,: the latte[...]looking
right.
The direottl.,
artistt notnt of view and )14[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (348)[...]26 h June.

SITE ITO SOU.
'Orvietc

The l'a[...]last on the 2nd Ins tart s and have nov,

received your letters ilos. 3 to 529 inclusive, dated 24t;

May 10‘;U
YOUR 57 UNT.1
7. dui t, — Your Uo.

Your advices are noted and vie hail be lad to hear

from you further as to the result o the sale f tile re
bales after the July auction sale.
N:'41E Pr: INT[...]YC)U2 10. 324

view of the oireumstancos advised, Lae

moat de b you with the above Company has. our on inns[...]advices ont a Ined r

we appreciate you: its In connect ion the rewith.

,'1.11-1D3[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (349)[...]S-La-39

perused with interest.
TRALIAN[...]inc consignments of Australian Notes by stoamor were
made beIween branches during the week endin[...]o Per Amount
41, 204.28 Uelbourne Sydney rmiston" .0770000
ft[...]Di A0 A 0I

Further to our No. 597 in reply to :,"our IJo. 521 regard-
in the above, we have now been requested by the Amercian
Bxchange Irving Trus[...]e dollar drafts iisuod
by the above Bank on our Canberra branch, up to a ikAt of
000 outstanding at any one time.
We have agreed to this arrangement, and for your inform
ation enclose copies of the correspondence.
144. /

Rofer'ring to our cable and our reply o . 667 of
6/2U on the fruostion of 3avi Agencies on Steam°
trading between Britain and Australia, we regret that up to
the present it has not boon practicable to arrange for th[...]. Generally when
one of the boats touch at Fremantle our T3ranh follows up the
requirements of passengers whose business has been[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (350)[...]V.} LT

by the Furs of the Map. Our Lge was perplexed that
no bu iness was offering w[...]with emigrants to
Australia.
Vihilst we rely on the best o 'forts at London and
3trand to :T[...]introducti
of Agencies on the Ships, should a favour(ble opportunity
arise,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (351)[...]HAM; IR ING TRUST CO
Foreign Office
Woolworth Bu[...]rra,
Australia.
Dear Sirs
We hrve been requested by our correspondents, the Banco
de Z,ao Paulo, Rua de Sao Ben[...]authorise you to honor their drafts up to the aggregate
amount of :'10 000 - outstanding at any one time on the strength of
their own advices and without awaiting our Confirmations. In reim-
bursement of such payments as you may have occ[...]of 3 10000
indicated above will he automatically re-established upon receipt by
you of our confirmatory advices.
We are informed by our friends that they have sent direct
to you specimens of their drafts and letters of credit as well
as the list of their authorised signatures. It is our understanding
that drafts issued by them under th[...]wise instructed by us.
we rmain. Assuring you of our appreciation of your kind co op ration,

Yours very truly,
(Ssd[...]Assistant Secretary.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (352)[...]26th 'Tune, 1928.

• The Vice President,
American Exchange Irving Trust Co.[...]BANCO DE SAO PAULO.
Referring to your letter of the 17th ultimo, addressed
to our Canberra Branch, we shell be pleased to place pt[...]that these arrangements will prove useful to
your Corre ondents.
Yours f-ithfully,[...]Secretary.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (353)[...]6 (9-0

D
No. 862. Renew Note Issue Dept British Treasury Bill
4:760 000- maturing during July .
'ed 22 6 28.
No. •63. Referring to your telegram of 21st June Credit
approved, Referrim; to your telegram of the 21st Juno No.
662, your application for advance Waishe for £650- is approved.
Monthly payment from funding of loan £31101-. Please expedite

a
reply to our telegram of 16th June concerning gold freight es
if favorable we hope to ship about 25th June. Beferrinz to
our telegrnm of 14th June, Melbourne Harbour Trust, authorising
letter dated 20th June.

Dat ZiLais.
No, 864. Referring to your telegram of 22nd June No. 6650
presume boat referred to is "Ferndale which leaves Melbourne
about 27th June. "Largs Bay" does not sail[...]July. Shil ing by "Ferndle" £250,000 from Melbourne and
2750,000 from Fremantle. Please pay freight. We presume
lipping Company will inform Australian representatives as
necessary.


Dated 2
No. 8o5. Referring to our tele„ram of 6th June No* 8460
nargs Bay" rrived Fremantle 14th June no passenger deposits
advise[...]- as. a T.T.
to the debit of tbis Office. Redeive from The National Bank
of Au tr lasia Ltd. the sum of E640000,the Commercial Bank of
Austrnlia Ltd the vurn of i;220000, as T.T. for credit of
this Office. 012 27th June receive from The Commercial Bank
of Austvaia Ltd. the sum of r100,O00- as a T.T.for credit of
this Office.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (354)[...]La-39

glg141_EigLILOpoN
(No 663

DM t
No. 6 r ties totallin6 £50 000 held on account of
Note I s sue Dept. matured to-day. Head Office credited
4518/15/-0 representing difference between Face Value and oqt
talance of proceeds credited to Note Issue Dept. SpeciLl A/c.
We have to-day purchased for the Note Issue Dept., British
Government Treourne Harbour Trust lists closed to-day. ApplicrAions fro.
public total £444,400-0 Underwriters tnke £555,600. New
York sight rate on London is 4 87.23/32

NO. 66). ictly confidential. Referring to your telegram
of 16th June, if shipped by nargs Bay" 25th June freight
would be 6/8% payclAc in London provi4ed strict rearm* main
tained even Captain not to be informed in :ly is of rate.
Telegraph us immediately,

No. 666. Securities totalling £30,000 held on account of
Note Issue Dept. matured to-day, Read Office credited
009/11/-, representing difference between Face Value and Co-t.
Balance of proceeds credited to Note Issue Dept. Special Alc.
We have to-day purchased for the Note Issue Dept. British
Government Tresury Bills follows:- Face Value £30,000
Co[...], Rate of
discount 31% p,a,

28.
No. 667 telegram o. 885, Head Office
Referring to your to
debited =3,000 credited E66 000. New York sight rate on •
London is 4.87.7/8. Referring to your telegram of 6th June,
Company at present unfavorable but desire further experience
of working of vessel.
Dated OA/
Noa. 668. Secr t, Ref rr ng to your t 1 gram of 23rd June,
if shipped by "Ferndale" rate will be 9/4 payable in London
which covers freight andinsurance. As "Ferndale" still
Goverment property until arrival here strictest secrecy
necessary

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (355)[...]; BILL
b.e. Az a matter „of information and record; we shall be

obliged if you will orward to un a copy of the British
A3ricu14 -al Credits BM. which Irmo recently passed through


i'arliszae t, col[...]127
have been advised by lelourno Office that you have
arranged with Lr. Oorm[...]Company, and
with tilc consent of the Dritish Trade Facilitlee ;oard, to
17,1vac't out of the uno:-poncyl balance of the Britinn Trade
Fntilition Tloat.d loan the sun o r'10[...]to not the ompany 4.
The anpany requested in Januarr 1at that we oot ff
the credit balance in London v?ainst their debit balances -in
atntralla for interest purpooes, but we were not prepared to d
this and offered to invoot the itrada in London on. the ilar::ot,
Vlore providod the VIritloh Trade 2rcilitios Bortro viers affrooab
°Aar., ng co.niosion o. p.a. for our oorvicoo.
o conl'irll the action you have taken, and only refer t

tho matter now so that the &urgin uf tho comn ssion above
referred to will not le overlooked.
171771.)7
B.L. nncorrti to your cable No. 652 of the llth in3tant,.
relative to the prolnoculln claw° or.aril[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (356)[...]La-39

SYDNEY, 16th June 1928.

The Secretary,
Department of the Treasury,
Commonwealth of Australia,[...]with the above loan provides that the
bonds are to be countersigned for authentication by the[...]nk of Australia has an
Agency in New York we are in a position to carry out this
servle', and[...]uld approve of the Bank
acting accordingly in respect of any future Commonealth
Government issue in America.[...]ate the bonds.
Yours faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (357)[...]6(94

CABL7° F ND

. rot. Referring to your telegram o, 26th June ,
fl0t7ith5tandin7 a firm arrangement made with Aberdeen and
Commonwealth Line, Eva was agreeable to ship by "Ferndale,' but
Larkin of Australian Commonwealth Line of Etemers definitely
refuses allow shipment. Aberdeen line say they will0[...]by nLargs Bvyn 17th July. We
have cabled Melbourne Office refer you before shipment .


D ted 26
No. 670 Weekly fiures. Referring to your telegram
866, Head Office debited £35,000.liew York si[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (358)[...]3rd July, 1928.

LETTER NO.992.
Per Plioolta[...]e you last on the 27th ultimo, and have since
received your letters Nos. 530 to 534 inclusive, dated 31st
Nay, 1928.
LONDON FUNDS AND FINANCES.4
We are obliged for the information contained in your
'o. 534.


Regarding the Union Bank of Australia Ltd. transact
for £100,000 :referred to in our cable No. 841 of 25th May,
the Union Bank in asking us to purchase this London cover
requested in their letter that the transaction be co[...]rtained that date was a holiday
in London and our .entries were, therefore, passed on the
following day, which synchronises with the completion of the
transaction at your end. On receipt a of our cable it would
have been preferable had you immediately advised us by cable[...]on.
AGENTS & COR-ESPONDENTS - SPECIMEN SIGNATURES ETC. YOUR NO.
530. We note your advices and will advise you on. receipt o

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (359)[...]K OF LOLA Atr TRALIA
The specimen signatures referresi to in your No. 512
are to hand and have been forwarded to our ranchos con
corned .
MOTO ACC NCE CORPORATION - LE RAP}
LC Referring your No. the alvropriatien suggested
has already been made and wns advised to you in our No. 503
of the 22nd L:ay which you will have since rece voch
lIgkag_AAERTs.''
LC We note the arrangements set out in your No,
which has our attent4on.

IMMIEgaALNEEINUINLIEKV
BL For[...]ing conoiGnments of Australian Notes by steamer wore
made between branches dur ng the wool': ending[...]1
rom To
27.6.28 Melbourne
it[...]Townsville anberra" 62 000
*tours ally, Eaai[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (360)[...]gageEL_Eagg_warlaa,
111.113.
. 671* Rcferrin.g to your telegr3m No 865 Hcd Office
credited Z1000()00. Re1errir,-, to you. .el gr-r No. 867, Head
Office debited E19,00).
Latest adv[...]sight rte on London 4.87
Montreal n it 4.88
F[...]Czech° -Slovakt,:u 0 tt 164.56
Germany (Reichm_rk T • T ft[...]0.-
-t
No, 72. Sugar 'z. Cubas B96.;'; 'Jolarisation 11/L nominal;
Amorican Gmnulat-ed 14/9d; Canedian 6'ranull:ited 14/9d; Jcv
Whites 12/3d; Java avc[...]inal, July
delivery.
We lu,ve to day credited Head Office with £31)/19/
representing interest A.lowed on Note Issue Dept."Special A/c."
for the current ,uarter. Balc,nco of Note Issue Dept. "Spec131
/c.11 at clw:e of buiness to-Oc,y g:2:9 674/7/3. New York
sight rate on Lon(Lon is 4087.11/16.

a _04 23
1o. 473. Confidentil. H. Nivi,on Coy, would like
Brisbaneto be ready for issue some dc7 next week. They sug:est
£1,000,003 debentures at issue price not less than 95t currency
20/25 or 30 ye;,rs. Cable following i..[...]ling to State
Government on similar lines to your letter of 4th August,19,6
Na. 271. t is unimprove,J Cupitl Val[...]al value and rte bein3 levied this year, They desire
Sinking Fund clause in Prospectus as follows:[...]7i.30 r(4_ (Brisbane) security on
the London markets', but should these not be obtainable at or
below - r end accrued interest money may be invested in other
Austr[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (361)[...]ivison & Coy. now sugge
issue 5 stock with currency say 1950/60 instead of debentures
Stamp Duty 1.;.; to be paiet by City on each[...]an at
price not exceedins par and accrued interest. Could Sydncy
City Council get power to issue stock.if so no Ion:,.; will it te-,k, S

o. 675 Referrin to your telegram of 28t1 June, shipmtmt
definitely frranced Largs Bay freit'.ht 6/ - insurance against all
risks 3/.-. a.1-1: of nd agreour telegram No. 8470 Read Office
credited E125,000-. Latest Landon m rket ,Jxotations (after
deducting accrued interest) of thefollowing securities are set
out hereunder:-
Commomve:Ath Governmen 5/0[...]1).
New South 'ales 5% 1945/65 £97. 15,-
Victorian[...]0,-
Queensland 5% 1940/60 E98. 5;-
&outh LustrLli,n 5[...]y Trust 514% 1944/54 5;98.
Melbourne Tramways Board 5 1944 1[...]1949
New Zealnd Government 51 1946 £103
south African 5;- 1945/75 £1020

77. Weekly figures.
Do •
No. 678 Referring to your letter of 22nd Ma £1,170,000
British Treasury Bills taken over froA He:d Office to-day enci
Head Office credited £1,168,585.3.4. beaurities totalling


£260,000 held on vccount of Note Issue Det. matured to-day.
Head Office credited i20600-, representing difference between
Face Value an cost. Al of Proceeds credited to Note Issue
Dept. Special A/c, We h[...]or the Note Issue
Dept. 'aritisth Government Treasury Bills as follows:- Face Value
E260,0000 Cost Z2570493/2/2, Maturity date 2nd October, Rate of
Discount £3.16.0 p.a. on £233,00' 3 on £30,003. New Yor[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (362)[...]he debit of this Office.
4ake , 7/6/482
No. 868 Melbourn Harbour 2rust loan r ain 215 979:17:
mee t, intAtrest„ etc. Credit. Melbourne in accounr, undor
:elegraphic advico balanc[...]s no,
Istss than £10,000

No. 8 9 ecret. Referring to your cable of 26th June, No.
669, ship-man, by IfFerndaln cancllad. We propose arran4 n
ship by qargs Day" laaving Malboura9 abouc; 18',h July 250,000
sovereigns from Melbourne and 750p vvoraigns from Per,h.
incid.antal[...]lia about 4d. per cans. accop,
ra,e 9/4 freight; and Lnsuranco all risks. Please a[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (363)[...]603

3rd July, 1928.

6c3.

The ivianager,
LONDON.
De r

forianr0 herewith three skeleton[...]'31 oots

for Half Year anded 30th June, 1928.
In view of alterntions in the as of the
Ha ,1[...]has been necessary to vary the list covering
our usual cable advice of figures.
ariended schedule is attached, and thefigures
will be eabl)d in terms thereof until further advised.
As thora arc no entries at present under heeding
"(25) Advances by Troasurer under dousing :Lc ", tho heading has[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (364)[...]OF 000
We duly received your cable of 22nd ultimo advising
that applicatio[...]the balance
being left with the underwriters. Regarding the disposal of the
loan proceeds we cabled you on 27th ultimo requesting you to retain
£15,979/17/- to meet interest, etc. and to credit Nelbourne Office
in account under telegraphic advice[...]nts not less than R10,000,
Melbourne Manger advised yesterday that the Trust
proposed to attach to the debentures a coupon for interest payable
on let January next, and in this connection we replied as follows:-
"Regarding the issue of scrip coupons, this is quite[...]practice in London, and possibly the scrip ham already been
issued, but should the Trust specially wish to attLich to the
debentures coupons for interest due on 1st Junuary next, it
will be[...]for London Manager to detach them
before issue to the public".
We have requested Melbourne 14anager to arrange for
the debentures to be prepared and despatched to you as ev,r1y
possible.

cAn c j0
Referring to our letter No. 598 of 22nd ultimo re
duly received your c ble of 26th ultimo to the effect that R. Nivi
eon & Go.[...]uncil at a price
not less than 950, with a currency of 20/25 or 30 years . These
advices together 'with the amended offer contained in your cable of
29th ultimo have been passed[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (365)[...]4.11.4

-2-

Regarding the sinking fund clause set out in your cable
No. 674 of 29th ultimo we presume this was intended to re, d as
follows:

"An annual cumulAive sinking[...]a price
not exceeding par and accrued interest, but should securi-
ties of this loan no[...]other Australian securities on the
London Market".
The information required for the prospectus as detailed
in your cable of 28th ultimo has been obtained and was cabled to
you to-day.

Referring to our letter No. 579 of 8th May L.,st we are
enclosing two copies of amended financial'statist[...]y the Council through Brisbane Manager. The City Treasurer
informs us that the figures previously furnished were prepared
from provisional statements, but the figures now supplied are
taken from the audited financial statement[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (366)[...]CITY REASURM t
2Eith June 1928.
BRISBANE COUNCIL[...]tion 1.06,6,A
Trantwa,is Department[...]1,268,763
803,067
Nlectricity 3upply Department 174,648
Water Supply and ciewerage Department q6[...]Less Sinking Funds 75,4(6 2,115,534
l'Ieetricity Depa[...]"428

5. ASSEri (6xcluding Cu, itali ed Interest):
4enerta1 dminis trat i on 3,643,949
Trazways Department[...]Supply Department 62o,46
ter upp1y and Seweraqe epr

•[...]£13,603,508

Gener1 Administration 6,191 175
Trumw-ys Dep,rtent[...]£16 694,940

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (367)[...]61)6
RM.

13th uly, 1928.

LETTER NO. 606.
Per "Ventura."

The Manager[...]e wrote you last on 3rd instant, and have now
received your letters Nos. 535 to 540 inclusive, dated lst and
7th June, 1928.


HONGKONG 45c SHANGHAI BANKING CORPN.
ER The specimen signature lists mentioned in your No. 521
are now to hand and will be distributed amongst our Branches.

SPECINENs GNATURE BOOKS. #'
ER. A revised copy of the above book has now been issued
and for use at your Office we enclose herewith 6 copies of same.
Messrs. John Sands Ltd. have been instructed to ship a
further 3,000 copies to you, and we shall be glad if you will
distribute them to our Agents and Correspondents n the usual
manner.[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (368)[...]6.0o6k

which was scheduled to leaveh e on the 11[...]ENT.
A.I,F. S0LDIERS1 ACCOUNTS.
Referring to your No. 531 dated 31/5/28, we have
made the adjustments to the list advised by you, the total
of which agrees with the amount remitted viz. 031.5.10. We
note you will destroy[...]LTD. '/
Advtg. We enclose copy of letter received from Moody's
Investors Service Ltd.
We do not require a copy of the 1928 Manual, but
draw your attention to the proof, from which it is apparent that
Moody's would be better advised to obt[...]from


you than from their New York Correspondent.
Will you kindly draw their attention to the errors and
mis-statements.

WOOL REVIEW;
LO. We are forwarding herewith a copy of Winehcombe
Carson Ltd. 39th Annual Wool Review; the statistics and
information therein will doubtless prove of interest and value
to you.
APPROVED ADVANCE - DOWNER DR.
ANA. We have been advised by Melbourne Office that they
have cabled you increasing the limit in favour of Dr. E.G. Downer

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (369)[...]to £1,75Q- against securities held at elbourne on ace ount of
G.H. Downer, which has our approval.

CITY OF LAUNCESTON LOAN 00,000 5s
We thank you for the statements of Receipts and
LC
Disbursements etc. forwarded with your No. 535.

INSURANCE ON AUSTRALIAN NOTE Your No. 536. ,/
LC As assumed by you we prefer to effect the insurance
through local Companies, provided we can get suitable terms
which compare favorably with the quotations from your end.
We will, however, advise you should we at any time
contemplate getting fresh oversea quotations.

DOCUMENTARY WOOL CREDITS - HENRY' CAULLIEZ.


LC. The requisition enclosed in your No. 536 has been
filed with our records.

YOUR CREDIT NOTE TO MARYBOROUGH N. 161 - 17/11/27 - Your No.
538.
LC. Your adviees have been noted, and Maryborough
advi[...]FUNDS & FINANCES.
The information furnished in your No. 540 has
been read with interest.

• Yours faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (370)[...]30th May1 1928.

The Secretary,
Commonwealth Bank of Australia[...]We beg to announce the publication for 1928 of Moody
Manual of Bank & Finance comnanies.[...]Investors Service of New York, is
devoted entirely to the presentation of facts and statistics
regarding:
Banks Inves[...]er British


companies, as well as the more promiiient Continental undertakings
of this description.
With respect to each company there is provided a record
of profits, comparative balance sheets, complete description of
the capital issues, dividend records, price range of shares
(when quoted), names of directors, etc. The style of the
presentation is the same as that contained in the oth[...]We enclose with this letter the statement of your bank
prepared by our New York correspondent for this book.
To each subsc[...]ents contain
new balance sheet and profit figures, dividend changes, record
of new issues, and all news of importance[...]of each of the Moody publications.
Further details of this book or any other of Moody's
Man Is, will he supplied on request.
Yours faithfully,
MOO[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (371)[...]S-La-39

CAL,I.L6 FROM 0'

No. 67 kly ,u New York sig ht rate on London is
4.87.13/32.
Da :.d
o. 680. Referrir g to your telegram No. 872 Head 0fice
credited E1001000 Latest advices (luote:
New York sight rate on London 4 87,7/16
MontreLl n ft le n 4.881[...]Czen o-Clovakia " ft It 164.7/16
Germany(Reichmark ) n li, n 20.42
F[...]if l't i/11

Pa 94 4/7/,2$,
No, 681. Brisbane City Council Loan underwriting to-mor[...]nstalments due
5% on application, £20/10/ - 16th July, £35- 29th August, £35 -
9th October, interest payable 1st March and 1st September, first
interest payment 1st March next year. Sinking fund claus[...]will be paid to the Trustees of the City Debt Redemption fund
and applied to the purchase of this loan at or below part and
accrued interest, but if not obtainable at that price the money[...]of other Australian securities on
the London Market.n
pv,t d
ho. .11f-year1y returns despatched nUold.,v .01 to,
New York sig[...]advise
us in a few days 'deferring to your telegram No. 875 Head
Office debited 039, 00O credited £14,000. Rer3rring to our
letter of 18th Novnbr :o. 352, LI Dona[...]ondon is 4.87-1/8.


PINIaiLl
No. 684 OS*

No. 685, Confidential. Am in touch with J. R. Colli[...]R. Collins advises Government have yet to cable ;:reeing

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (372)[...]606

cABLgp To 141XDON.

No. 870. Referring to your telegram of 29th June, Brisbane
City Council accepts offer £1,000,000 5% stock at 95i currency
1950/60 please advise when issue will be mdes Referring to
your telegram of 28th June Authorising Act Wo. 32 of 1[...]. Unimproved capital value general
lands £21,675,000, rural lands £585,000, total £22,260,000,
annual value not assessed. Rates thi[...]al
lands, 7id. on rural lands. Annual rate £966,562. Referring
to our letter of 8th May No. 579, statistics furnished year ended
31st December 1927 should be amended read as follows:- Total
revenue £2,7820 252, expenditure 1E2,924,364, net loan indebtedness
£14,9360228; assets £13,603,508, liabilities £16,694,940.
DatAd-4=1,
No. 871. We regret that awing to a misunderstanding Mayor of
Brisbane made premature announcement regarding issue of London
loan. We trust that this will not prejudice flotation. Letter
authorising issue dat[...]m to be paid to the Trustees
of the City Debt Redemption Fund to be invested and applied to the[...]t procurable at or below par plus
accrued interest then (b) of other Australian securities on the
London market.

LoalgsLALLZIA.
No, 872. Receive from Bank of Adelaide the sum of £100,000
as a T.T. for credit of this Office.
DAtad 6/7/24?
No. 873. Brisbane City Council Loan Ord[...]DigiSa-21.11.A.A.
4 2
No. 874. Referring to your telegram of 29th June, Sydney City
Council Commissioners cannot definitely state at present but
consider might possibly arrange Gover[...]Bank of New South Wales the sum of £26,000
The National Bank of A/[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (373)[...]13th July, 1928.
COflFIETLL.

LiTER NO. 607.

• The :Manager,
LONDO N.[...]C.A.B. CAMPION./
The further payment or Z600- advised in your
No. 537 to Mr. Campion has been recorded by us.


Yours faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (374)[...]6oq,

13th :ray, 1928.

LETTERL1911211.
Per 'Ventu[...]as in New York he paid
a visit to the Federal Reserve Bank and saw there some Note
Counting Machines which might be of interest to us. We
accordingly communicated with the Federal Bill Counter Company,
621 H Street, Northwest, Washington, D.C., who we understand are
the manufacturers, asking for cataloguds and descriptive
literature and any other information that might be considered of
interest. In reply we were advised that no catalogue or
descriptive literature was available. We have, however, now
received from the Company, a letter advising that th[...]e Bank of England, the Bank of France
and the Reichsbank. Copy of the Company's letter in this

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (375)[...]608

.4/

IrT10
Aores artment
ninder reet
k3yclney o Australia.

1-1

title

y 0 your,. of _ .4>r .

The writer h47. lofst returned from .:4;urope h c we
d ours rchinas th'f.3 13:.rnk and to ort[...]t their, 5, 10 and I 0 Fr%nc not in the Reie
Berlin to sort and count their 10 ci,nd 20[...]We. would suggett 4e next your
re-- vntative. 8•:114'tlic of[...]240 .dircdt.

If his decib'on is favourable iv e us the
dimen8ions or your Lotc.- y aw riturly mac;Ancf3 you roulu
He should also nole carefully the operatin the 114:Leh:Ines so
he could instruct your own operv.tors how to use your,machinci4
when they arrlve. '„e could not, of coure, afford to send our
ongi • eer all the Sydney as y,,.tu must aprcicite the
expenoe the tip- required wo p t Le prohibitivc.[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (376)[...]3 h. July, 192 8 *

LETTER NO. 609.
Per "Ventura."

The Manager,
LON DO[...]ote you to-day.
BALANCE SHEET.
Ath reference to the skeleton balance sheet
recently forwarded you, it has now been decided by the Board
to make slight amendments therein, ankfurther skeleton copy
goes for and by this mail with[...]ith the printing in
antic .tion of the cabled figures for inclusion.
It haa also been d[...]blished with the half-yearly balance sheet in
future. In this instance, you need not hold up the pr[...]he balance sheet And if it i decided to can e the
report for publication with the balance seet printed at yOur
end, a separate sheet could e gummed in.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (377)[...]CITY COUTICIL OPU OF Z110 0,000.
We are enclosing for your files original letter from
the Councildat
oun[...]flotation of the
loan, also Gazetted copy of the relative Order-in-Couacil.
As advised in our cable No, 871 of 4th, instant, the
Mayor of Brisbane, through a misunders anding, made a premature
announcement regarding the loan before advice of underwriting
was received. We have pointed out to the Mayor the inadvis-
ability of such premature disclosures owing to the risk of pre Judi.
ing flotation.
We duly received your cable of 10th instant, advising
that public subsc[...]amount to £104 400.
'Yours faithfullyr[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (378)[...]2nd July 1928.[...]Referring to your letters of 29th ultimo and 2nd
Instant, relative to the proposed issue of a loan of £1,000,[...]I have to inform you that the proposal was considered
thi3 af[...]ollowing
resolutions were passed in that connection :-[...]'That application be made through the Home Secretary to[...]approval of the Trusees of the City Debt Redemotion Fund,[...]Rate of interest 5% per annum.
Currency - 32 years. The Council to have the right
tri 0 of redemption at the expiration of 22 years.[...]i Debt Redemption Fund, to be invested in and applied[...]not procurable at or below par plus accruedinterest,
0 a)
-.4[...]ei) market.
r)
Ti m Taxation - The princinal and intere t of the loan to
a) an-4 0 0
f-->4çt1[...]4 7-)ast present or future."
4-4 04 (i) 0[...]"That the Trustees of the City Debt Redemption Fund be
I—I 0
Ct 4-3 CZ) ttO requested to invest and apply the annual cumulative[...]London market for water supply and sewerage purposes,only[...]of other Australian Securities on the London market."
Yours faithfully,[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (379)[...]6

[1]

Qurenstatal trinment s azdtt[...]BY AUTHORITY.

[17),,.-Tistered at the General Post Office, Brisbane, for Transm[...]TUESDAY, 3RD JULY, 1928.[...]f the City
July, 1928. Debt Redemption Fund within one year from the date of iss[...]scribed stock.
Present : And the Honourable the Home Secretary is to give the
The Lieutenant-Governor, acting as Deputy for and on behalf necessary directions herein accordingly.
of His Excellency[...]G. W. WATSON, Clerk of the Council.
HEREAS by "The City of Brisbane Act of 1924" and by
an Order in Council dated 28th March, 1928, and made
under the provisions of that Act,[...]tropolitan Home Secretary's Department,
Water Supply and Sewerage[...]Brisbane, 3rd July, 1928.
mentioned Order in Council, it is am[...]those Acts or any other Act the the following Regulations made by the Acting Commissioner of
Council is authorised or empowered to establish, construct, Public Health.
maintain, manage, or work: And whereas the Brisbane City[...]permission to borrow the sum of One Regulation 47 (6), Regulation 47 (9), and Regulation 47
Million Pounds (£1,000,000) by t[...]nds and/or (13) of " The Food and Drug Regulations, 1928," are hereby
inscribed stock, for the purposes hereinafter mentioned: Now, repealed, and the following Regulations substituted in lieu
therefore, the Lieutenant-Governor acting as Deputy for and thereof :-
'[...]im by the said Acts, doth order as 47. (6) Jam or conserve is the product obtained by boili[...]That the Brisbane 'City Council shall be and is hereby in the case of apple jam), nor any other ad[...]n £95 10s. per centum. Provided further that the addition of permitted colouring matter
2. That the currency of such bonds and/or inscribed stock to ra[...]shall not exceed forty years, and the rate of interest shall not deemed to be a contravention of this Regulation.
exceed six per centum per annum.[...]d/or inscribed stock 47. (9) Mixed jams are the product obtained by boiling
shall be app[...]two or more varieties of sound fruits with sugar. Mixed jam[...]foreign substance: Provided that the proportion of add[...]t with the lender' that the
principal and interest of the loan shall be payable without[...]S.
deduction for any Australian taxes, past, present, or future. 47.. (13) Any person who manufactures for sale, sells, or
5. That the payment of the principal and interest shall be exposes for sale any jam, jelly, conserve, or preserved fruit in
charged on the rates and revenues of the City howsoever arising. tins cont[...]n one pound net weight, or any multiple
6. That towards the redemption of the principal sum of thereof (e.g., 1 lb., 2 lb., 3 lb., &c.), shall be guil[...]offence.
each and every year during the currency of the said bonds
and/or inscribed stock, pay out of the rates and revenues of
the City to the Trustees of the City Debt Redemption Fund a Printed and Publis[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (380)[...]16th July 1928.

CONFIDENTI AL

LETTER No.611
Per "Karmala"

The Manager,[...]Dear Sir,
STAFF - Re C.A.B. CAMPION.
For your information I enclose herewith copy of
a letter addressed to the above in reference to his retiring
allowance. I also enclose two copies of a proposed agreement
between the Bank and Mr. Campion and a form of receipt in respect
to Of Superannuation Fund.
If Mr. Campion expresses his desire to accept the
conditions offered, and completes the agreement and receipt form,
you are authorised to sign the agreement on behalf of the Bank and to
carry it in[...]ised payment of £2,000- to Mr. Campion,
but are not clear whether that amount was actually paid o[...]latter amount only, you may pay Mr. Campion a
further £600- so that the payment up to 31st May, 1928, shall be

• brought to 182,000- as set out in the agreement.
Yours faithfully,[...]Governor.
P.S. The amount of £596.6.9d refund of O.S.F. contributions
to be retained by the Bank should be credited to Expenditure A/c

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (381)[...]13th July, 1928.
CONFIDENTIU.

C.A.B. Campion, Esq.,
11 Queen Victoria Street,
LONDON. E.C.4.
Dear Sir,
Referring to your letter of 12/10/27 and my reply
to you of 16/1 /28, I now have to advise you of the decision
of the Bank Board in response to the requests and case sub-
mitted by you.[...]tion scheme which came into force on 1st July, 1926, and
subsequent to your retirement from the Bank which took place on
31/5/26.
This, therefore, presented a somewhat difficult
position for any variation of the agreement entered into between
yourself and the Bank in respect of your retirement.


Your long association with this Institution will
enable you to realise that this Board has not the freedom of
action in the same way that the Board[...]The Board, however, feels that in dealing with your
case and having regard to your service with the Institution that
it is justi[...]nder all the circumstances.
In this regard the Board was largely influenced by
your assurance that you understood from some statement[...]h scheme in lieu of the
settlement actually agreed upon.


After careful consideration therefore, and with a
desire to do the utmost justice to you arising out of the
situation the Board has decided to submit for your acceptance
the following offer, viz:-

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (382)[...]S-La-39

"That the agreement between the Bank and yourself
"covering the settlement of £5,000- to be paid in
"5 yearly equal instalments as a retiring allowance
"be cancelled, and substituted therefor a pension
"at the rate of £1,000- p.a. during your lifetime -
"payable at such periods as may suit the convenience
"of both parties and further that the amount repayable
"to you under the Old superannuation scheme (amounting
"to L9kL6122) be retained by the Bank."
If you are prepared to accept these terms, I am to
ask you to sign a new agreement which I am forwarding to our
London Office for this purpose, and your concurrence and
compliance with this will enable our London Manager, Mr. Scott
to sign the new agreement on behalf of the Bank. Authority for
suc[...]trusts that this decision will be one
of entire satisfaction to yourself and that harmonious
relationship may in the future exist between the Board and
yourself.

Yours faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (383)[...]17 ulY 928.

LONER NO. 612.
Per "Karmala."

The .'Lanager[...]you last on 13th instant, and have not
since received any letters from you.


?UiLICAT FORGERIES NOTE3.

BL. Referring to our No. 5970 we should be glad if you
would arrai[...]ishers in Brussels for the General
Manager of our Note Printing Branch in Lelbourne to be register-
ed as a sub criber to their publication "Contrefacons and
Falsifications" from the beginning of 1928. Th Gnrinl-po
nager would also like to have the 1926 and 1927 collections
If copies are available.
Please draw on' t[...]in


this connection and for the annual renewals of subscriptions.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (384)[...]CABLES F70L LONDON.

Dated 13/7/28.
No. 689. Securities totalling £100,000 held on account
of Note Issue Department matured to-day. Head Office credited
-010 000 representing difference between Face Value and cost.
Balance of proceeds credited to Note Issue Department Special
Account[...]the Note Issue
Department British Government Treasury Bills as follows:-

•[...]Cost..........••.... 99,066.13.4
Maturity date 13th Octob[...]4.7% p.a.
New York sight rate on London is 4.86 1/1C.
Dated 14/7 28.
No. 690. Latest London market quotations (after deducting
accrued Interest) of the following securities are set Alt
hereunder:

Commonwealth Government 5[...]N.S.W. Government 5,4; 1945/65 £97 10
Victorian Government[...]queenslnnd Government 5 1940/60 £98 5


S.A. Government[...]y Tot. 5 1944/54 £37 L,)
Melbourne Tramways Bd 5;,, 1944 £93 10[...]15
New Zealand Govt. 51:; 1946 £103 -
South African Gov[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (385)[...]o. 79. 1,-.1ea...,e arrange credit Lrisbano ranch under
teleraphic advi[...]Z10,000 also with any other
moneys at credit, Council's account your ,'„if ice.

ated 13
No. 880. confidential.


retts1
No. 881. Staff - Confidential.
Dated 16/7/p8.
No. 882. Board has resolved that proceeds of shipment of
£10 000000 sovereigns "Largs Bay" shall be invested as follows: -
504 in short call or Treasury Bills and balance in British
and Commonlhealth securities nit exceeding 5 years currency.
re desire up to tf-'500 000 if possible to be invested in C[...]Note Issue Department when proceeds gold received.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (386)[...]24th July, 1928.

LETTER NO. 613.

• Per "Ormonde.

The Manage[...]wrote you last on 17th instant, and have
now received your letters Nos. 541 to 544 dated 14th June. 1928.


LONDON FUNDS & FINANCES.
The advises contained In your No. 554 have been
perused with interest.

GOLD STANDARD ACT p25.[...]urNo.54_ia
We thank you for your advices, and note that you

• have written N[...]s connection. We shall be pleased
to have your further comments when a reply has been received.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (387)[...]6/3,

BANK OF ITALY NATIONAL TRU T & SAVINGS[...]►

ER For your information we desire to advise that at the
request of the above Bank we have agreed to our Branches as
as paying Agents for their Travellers' Cheques.

joimuLgTomm. CJF NEw YORK - Your No. 542.
ER


New York Agency have written us re rd this matter
and we have decided to add the name of this Agent to our List of
Correspondents for the encashment of drawings under Circular
Letters of Credit at Mexico City and Paris. Please forward
the necessary specimens to these centres.

BANO0 119, —
ER We thank you or the advices in your No. 542 to the
effect that the Foreign Central Management of the above
Institution has been transferred from Ilan to Rome.

FINLANDS Bitdi Your No. 542.
ER The specimen signature lists forwarded by you have been
distributed amongst our Capital Branches and those at Rabaul,
Fremantle, Newcastle and Port Adelaide.

B ANK DOMfilION COLONIAL & OVERSEAS - Your No. 542.

ER We have communicated with Hobart Branch as necessary,
and we trust there will not be a recurrence of the matter.

PUBLIOAT ON - "JOB[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (388)[...]63

Digest Year Book" to forward a copy of the Book direct to
you. Cost has been defrayed at this end.

GOLD SHIPMENT OF 1 000 000 SOVEREIGNS PER "LARGS BAY."

BL We advised you by cable on the 16th instant, that the
Board has decided that proceeds of the 1,000 000 sovereigns
being shipped by the *Lams Bay" shall be[...]ows:-
50% at short call or in Treasury Bins.
50 in British and C[...]securities not exceeding 5 years currency.
With regard to the latter amount, as advised by cable,[...]nvested by you in the
Commonwealth Government 6% loan maturing 1931/41 and the


remaining £250,000 or more is to he invested at your discretion in
British Government securities with currency not exceeding 5 years.
We requested you to commence purchases at once out of your own
funds, transfer to the Note Issue Department to be effected when
proceeds of the gold are received. The transfer to the Note
Issue Departm[...]rities to the General Banking Department plus interest
at 5% p.a. for the period during which the securities are held
by that Department.[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (389)[...]BALANCE SHEET.

LC We halo advised our New York Agent that he may
advertie the Balan[...]we shall be glad if you will

• mail the figures to New York immediately on receipt of our
relative cable, at the same time advising the Agent the date
Balance Sheet is to be released.

lAHL___a_ATHEN5.
ER We attach hereto copy of a letter received from the
above Agent.
From our reading of this letter we take it that


same will not have any bearing on our existing ::eney Arrange-
ments as, of course, telegraphic transfers will always have a
fixed number and it appears that drafts and drawings under our
Circular Letters of Credit, are excluded, in terms of Para. CO
How[...]ter, together with the Specimens
mentioned therein, has been forwarded to each of our Capital
Branches we shall be glad if you will[...]IWIL,-;k2E-2E11,4090 000 i

• BL With reference to the sinking fund payments to be
made in connection with the above loan, we are enclosing copy
of a letter addressed to Brisbane Marlager by the Trustees of the

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (390)[...]6/3

City Debt Redemption Fund setting out the Truatee& Resolution
to apply sinking fund moneys in terms[...]irst stock issue by the Council in
London we are arranging for London Manager and Accountant for
the time being to be appointed as Registrar and Deputy
Registrar.

• Copy of regulation regarding City of Brisbane Stook
were forwarded to you with our letter of 8th February, 1927,
No. 396. Please advise us if any alterations are necessary
to meet London requirements.
We are negotiating with the Council regarding the
management fee to be charged in connection with London issues
and you will be further advieed in this connection in due course
We presume that a charge at the rate of £150- per million will

• be sufficient to cover expenses and:return us a reasonable
profit and should be glad of your advioeso

EESTI VAN. ,/

ER We enclose herewith copy of letter received from
the Talaan Office of the above 'tent. No doubt the matter
has already been referred to you and you have replied in
suitable terms. Your advices in this connection will be
appreciated.
We desire, of course, that any charges made by the
Nesti Rank for effecting payment of our TiTS.should be botne by
the payee.
Yours[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (391)[...]w beg to inform you that **cording to the measures
or eecurit adote' by the Internetional i714[...]n itrin in ectober 1a27, '0 hove
deoide4 that our sod Office find 4Aenoles shall tete, from the


Let of June of the present year. Vle following ...surest
;').11 orders by letter, for payment, for traaster
(clearance). pimple eredits, notifies of transfer or PnYm4nt, *n
account of or in fsvour of priest. inflividuals (41re4t payment
or to be med• by he intermediary[...]eecievted or executed when the said orders. *relit , , end notioes
have on them 3 reference number established with %he help of the
li[...]Xeichamark 100 000 Lire.
6.000 Dollars lb,C00[...]loty*
140.000 ?ranee Ailia 160000 OrOwng Swedish
16000 Crowns Danish 26,000 PrInos twisa
00* keee[...]Crowns Czecb.
000 ?ranee rem
Any other eurreney ehouI loulets4 t.
eçutvlimt at 4ollars.
It in quite untteratool that here limits for *soh eurr n
will be Aprlicable to all the orlore drawn up in this currency,
from whetever ctountry they may oom., And[...]*bow. oonditiona do not App y to letters of credit of
eh notice Ilse been given or circular letters, to creitte
nod against doollments, or to *he[...]m changed.
b) private Individual° we herein understand any person
isity Or corp[...]ministration, consequently, orders in
our of ben*. es well os those in fevour of public
dministraLions ore aLono excluded from the above oond1t tou

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (392)[...]S-La-39

tayments re se s
p*ysents.
2. All OrdOrs for poyment* trionsfer* simple credit* notice of
transfer or par:sent* on account of or in favour of bents
or privet, individuals wittout distinction Is Lo Ute qmount
that our Head Office an4 Agencies 'Ill forward you from th[...]mills -roints'' of nich we forward you herewith spool ono


tU you 4. so good as not to carry out any orders I rom our
fieg ffice or Agencies which * although bearing the
authorised siTnatures* *re not drawn up , Iccor4ing to the *bolts
conlition* which cancel ail preceding conlition* reacting to
thin matter. -hould the ert[...]y cable
th4 luttency cones's. 4 of the irregular notices received.
ce, be you to acknowledge ree.ipt of this letter* by
returning to u the oncloeel form, beer n your authorised
sign,Itures.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (393)[...]613

EST NK -;

Tallinn 8th June, 1928.

Commonwealth Bank of Australia
SYDNEY.
Dear Sirs,
By the present we beg to advise you that, according
to our new Tariff, beginning from July 25th a.c. the und[...]f commission will apply to payments made on the strength of
your telegraphic and mail orders:
In Tallinn Free of commission, postage Ekr. -.50
In Br[...]t 1.-

cost of ordinary wire Ekr. 1,80
urgent 3.60
3. In other places - the rates aforementioned, adding corres-

• pondents charges, if any,[...]e note.
Yours faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (394)[...]J. FROM LONDON.

Dated 16/7/.
No. 603. Referring to your telegram 'Lk.). 87 Head Office credited
C250,000-. National Bank of India Ltd. offer ' discount further
U50 000- sovereigns Fremantle to Madrao per ".Karmala". New
York sight rate on London Is 4.861 .
Dated 1717/28.
Referring to your telegram of 7th July R. Nivison 60y
quite intended bringing out Sydney City Coulcil loan this month
but reception given Commonwealth and Brisbane City Council show
it would be most unwise to press for another Austr'l.lian loan on the
market at present. They therefore advise holding over Sydney
City Council till after the holidays say end of 36ptember meanwhile
getting authority to issue S[...]ose ,of loan average' annual value of land
increase per cent during lest 4 yers„ levying cowers of Municipal
pucil, present rate and the amount„ annual sinihg fund and[...]lth
application to date £772,000.
Dated 16/j128
No. 693 - Staff. Confidential.
Dated 17 7/28.
No. €94. ',",eeiciy figures.
Dated 17/7/28.
Do. 695. We have to-day debited Head Office 5.8.7 for.
transfer to your Dollar ilccount with Canadian Ban of Coerce ,,
Ban Frr,.ncisco, rate 4...56 3/32.
Commonwealth Loan Lists cl[...]erwriters tae balance.
Dated 13 7 28.
No. 696. Referring to your telegram of 18th instr, at, the answer
is yea, except that sub-section 2 reads:-
(uotation begins)
"[...]New Zor-.. sight rate on London
Montreal " 4.88 /t4[...]Ozecho-31ova:Aa 164 1/16
Ti
Germany (Reichmal-') 20.39[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (395)[...]6/3,
0

tleforrilz your of .[...]3outh , ale urn of
a3 a for credit of thlz
Purchase 130 000 ransfer our Account
with Canadian B of Co[...]eas
4. whether ctionIi orrency
1. was ilEi.sod•vith-but . altoration. On
receive rom of Nev.. SO- t,•Wa..eo•the-sUm r„2&..)
for credit f•this ffice.
.
o85.[...]ceodin4 Z8 the extent of ♦2,1,,,,, thun red„a
amowit o : -h Governmc,t Securitiel[...]L.,,
Ltd. she si.2 of '30 as .,.T.T. for credit , ia Offico.
.,.. oy
t your discretio n priorto'. 4th Auz„ust purchase;',29[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (396)[...]24th July 1928


LETTER NO. 614.
Per "Ormonde."

The Manager,[...]AUSTRALIAN INFORMATION BUREAU.
BURTON' OVERSEAS INFORMATION BUREAU 15 Strcnd.
We refer to your letter No. 469 of 2nd January, 1926


under the heading of "Commission on Rem ttance3of Settlers'
Funds and subsequent correspondence in connection with the
payment of i% on funds secured by passenger agents for remittance
through your Office or Strand to Australia an behalf of emigrants1 0

the object being to secur such remittances as Savings Bank
deposits on this side. It has just come to our notice that
Burton's Overseas Information Bureau which is apparently identical
with Australian Information Bureau has been handling the trans-
ference of emigrants funds in a manner which seems to us to be
far from satisfactory, not to say irregular. We enclose here-
with copies of three receipts issued by Burton's Overseas Inform-
ation Bureau, two of which are dated 18th May, 1928, and the

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (397)[...]- 2 -
other 23rd May, 1928. The first item receipt No.4875 for
£661- was covered by a P.T. through Strand Branch for £664.6.1„
which was received at Sydney on 20th July, 1928. Cover for the
second item receipt No.4876 was received in like manner on 9th
July, 19280 whilst the third item receipt No. 4897 was received
by T.T. on 19th y* 1928. This last mentioned item is endors-
ed with the name of this Bank and its Sydney address. There is
no similar endorsement on the other items. In addition to these
three cases a Mr. John W. May has called and produced a letter
from Burton's Overseas Information Bureau asking him to call at
the Commonwealth Bank, Sydney 0 for his remittance of £20. This
remittance has just come to hand.by T.T. to-day.
A further example relates to a remittance of £634 on


account of Olotilde Zambardi in cionnection with which we enclose
copy of letter addressed to the lady mentioned dated 26th April,
last. As you will see this letter requests Miss Zambardi to
apply to our Melbourne Office for her remittance of £634, but the
remittance has not yet arrived at Melbourne.
With regard to receipt No. 4875 for £661 we enclose
copy of a cable sent by Burton to Denis Pudifin„ who came out by
the Moreton Bay but whether this cable was in reply to a
cabled enquiry by the favoree,or whether it was sent by Burton
on his own initiative, we are unable to say. In this case
it is apparent that exchange at the rate for T.Ts. has been added,
the amount. of the receipt being L661- and the amount of the cabled
remittance 2664.6.1. The owner of these funds could, of course,

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (398)[...]money
over to Burton's and he would then have received the On Demand
exchange premium of 17/6%.
It seems apparent that Burton's are adopting a
practice of makinL use of moneys e[...]ide
approximately with the arrival of the favoree in Australia. In
the ease of receipt No. 4875 0 however, some considerable time
elapsed after the arrival of the owner of the funds before the
remittance by T.T.came through, and this gives the impression
that the stability of Burton's Overseas Information Bureau
may be questionable, and we feel in duty bo[...]ayed by Burton viz. "Australian
Information Bureau" could quite easily mislead emigrants into
believing that it was an official bureau0 and the fact that
it Is situated in the Strand may lead to enquirers being
directed there instead of to Australia House. Under the
circumstances, therefore, we feel that these incidents should
be broug[...]who should, if they have the power, order
the removal of the sign "Australian Information Bureau." If ,


after investigation, you find that Burton's Overseas information
Bureau have been following such irregular practices as the

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (399)[...]875
BURTON OVERSEAS INFORMATION BUREAU,
15, Strand , London[...]18th May, 1928

RECEIVED FT-'0M MRS. ELLEN FUDIFIN 4 HIGH STREET WELLING KENT
THE SUM OF SIX HUNDRED AND SIXTYONE POWDS.[...]Principal
£661.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (400)[...].14

COPY.

4876
BURTON'S OVERSEAS INFORMATION BUREAU,
1, Strand, Londo[...]8th May, 1928

RECEIVED FROM MR. C. BRANCH 18 IZ E ROAD BEXL[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (401)[...]6/46

,

COPY.
4897
B. S OVERSEAS INF ikiki ION BUREAU,
, Strand, Lond[...]Vrd Llay, 1028

RECEIVED FROM MR. W, TROUGHTON 58 Ra5VER R AD[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (402)[...]BURTON'S
OVERSEAS INFORM ATI ON BUREAU .
(SA. Burton. A.R. Maylott)[...]RTS
All advice and
Information free. 15 Strand,[...]Peth April, 1928.
Miss Clotilde Zambardi.[...]ommonwealth Bank of Australia,
Collins Street. Melbourne, for aLatiliDEELLAN_D THIRTYPOUR POUNDS
(634.0.0).


Yours faithfully ,
BURTON'S OVERSEAS INFOEMATION BUREAU.[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (403)[...]25th July, 1928.
CONFIDENTIAL.

LETTER NO.615.
Per “Ormoncle."

The manager ,[...]AUSTRALIAN INFORMATION BUREAU.
BURTON'S OVERSEAS INFORM4TION_BUREAU 15 Strand.
Following our letter of 24th instant, we have


now to advise that Miss notilde Zambardi's remittance of
£834- has been received from Strand Branch by T.T. to-day.
We u[...]r written by Burton's to lies Zambardi. Is dated 26th
April, so that it would appear that her funds have been
withheld for nearly three months. No exchange appears to have
been allowed to Miss Zambardi.
With reference to John W. May's transaction we


enclose the original letter addressed to him by Burton
Mr. May and other[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (404)[...]BURTON'S
OVERSEAS INFORMATION BUREAU.
(S.M. Burton).[...]12th June, 1928

Mr. John W. May,
44 Rudolph Ro[...]lth Bank of
Australia, Pitt St. Sydney for your capital viz. TWENTY POUNDS
(Z20.0.0)
Yours faithfully,
BURTON S OVERSEAS INFORMATION BUREAU.[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (405)[...]6/6

25th July, 1928.

LETTER NO. 16.


r nOrmonde

ager[...]LOAN 2 000 000.
We note from your cable of 17th instant, that
Mess 1. Nivison &[...]0th instants in this connection
is enclosed herewith.
Tour suggestion with regard to the issue of stock
has been favorably received by the Commission and steps are
being taken to obtain the necessary legislative authority.
We will keep you advised as progress is made in this respect.
We have advised t[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (406)[...]SYDNEY. 20th July 1928.

The Governor, \fi[...]DON LOAN

have to thank you for your letter of the 18th instant
and the information therein contained.
In accordance with your request, I have pleasure in
supplying the following information

40[...]ernor, to borrow
in manner hereinafter provided and subject to the
conditions hereinafter prescribed, any sum or sums
of money for the aforesaid purposes, or any of them[...]ct shall be deemed
to be secured upon the corporate rates and revenues
of the Council from whatever source arising, and
the following[...]ations, and
provisions shall regulate the borrowing of moneys
and issue of debentures under this Act:
A[...]the
sale of debentures, to be issued in such[...]the maturity of any such debentures, issue new
debentures to retire or repay the same. -II
such original or substituted debentures shall
have a currency not exceeding in th, aggregate
fifty years, and shall bear interest at a
rate fixed[...]rm of
Schedule D hereto, and the council may fix the[...]which such debentures may be sold.

Every such debenture shall be numbered in
regular ascending arithmetical progression,
whereof the common difference shall be one,
a[...]ery payment of
interest to grow due thereon, a coupon bearing
the same number as the debenture,

Every such debenture shall name the principal
sum secured thereby, which shall be twenty[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (407)[...]S-La-39

N0.618

The Manager,
LOILIDON.
Dear Sir,

We are in receipt of your letter Voi547 dated 20th
_timoiand in rojdly[...]•
1921 on the subject of child allowance were not forwarded to
S your office, the payment of child allowance in so far as
Ebosenc,ers are concerned, not previously beiny. applicable in
London.[...]ate of £15 p.a. may be
paid to Messengers in respect or each child under 17 yeJrs
age as from 1/7/1928.

•[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (408)[...]31st July, 1928.

LETTER NO. 619.[...]wrote you last on 25th instant, and have now
received your Letters Nos.545 to 563 inclusive, dated between the
19th and 28th June 1928.

• PRIVATE TELEGRAPHIC CODE - Your No. 55
Your advices regarding the account of Beecham
Estates Pills Ltd. are noted. The amendment to the code word
UFNHE is receiving the necessary attention.

YOUR DOCY. LETTER OF 9RDI 140 Fio SIUON US V[...]& CO.
£100,000.
Your advice under this heading are noted with
thanks.[...]COMMONWEALTH 5 . CASH & CONVERSION LOAN - Mrs. Florence Williams.
Bare ay e Bank d.
We note the remarkS contained in your No.555,
but we would draw your attention to your letter No. 98 of 14th

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (409)[...]Branch of Barclayts Bank Ltd.,
and enclosinL„ receipt therefor. We cannot understand why
You have been again[...]COMMONWEALTH OF AUSTRALIA 5-' WAR CONVERSION & REDEMPTION LOAN
1928.
The applications forwarded with your No. 557 have
been passed on to the Registries concerned for the necessary
'attention.,

PolimPIREALTH, QUERMELJUMEAgugalleLmiam. Your N0.563.
We thank you for the statement covering the manage-
ment charges of £6,583.15.2 for period 1/12/2" to 31/5/28, and
also for the supporting schedules, which are receiving our
attention.
LONDON FVNDS FINANCES./
We thank you for the advices contained in your No.
562 and for the schedules attached.

WESTMINSTER BANK LTD.
We note-the advices contained in your Nos. 545 end
552 regarding the specimens being forwarded on account o[...]necessary for each individual office to forward direct acknow-
ledgment.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (410)[...]S-La-39

A'AIR - Your No. 545. //
The communications mentioned by you have been
forwarded to our Branches concerned.
ALLGEMEINER BANK-VEREIN IN 'POLEN.
POWSZOTINT7AffK ZWIAZkOtYw POLSCE S.A.
The advices contained in your No. 552 are noted.
BANCA NAZIONALE DI CREDITO
The arrangements made with this Institution have
been duly recorded.
BANK ZWIAZKU SPOLEK ZAROBKOWYCH.[...]nts with the above
Institution as set out in your No. 556. Suitable instructions
will be issued to Branches in due course.
Q04; DE BRUGES.
We enclose herewith copy of a letter received


from the above, and shall be gla[...]ve Bank has been closed, and we shall be glad of your confir-
mation in order that same may be deleted from our List of Corres-
pondents for the encashment of Australian Notes.

rours faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (411)[...]UGES 15 h June, 1928.

Commonwealth Bank of Austrn[...]irs,
With reference 0 our circular letter of 24th ay last
advising you that we have taken over the business of the Credit
General Liegeois at Rruge., we beg to inform you that we are also
established at Knocke and Zoute, seaside resorts very popular on the
Belgian Coast[...]ace the services of these
Branches entirely at your disposition in connection with your
Letters of Credit and Travellers Cheques.
We should be very pleased, therefore, if you would kindly


also mention these Branches on your List of Correspondents, and we
should be pleased to receive now for each one of them your authorised
list of signatures together with a complete set of your specimen
documents (Letters of Credit Travellers Cheques, etc.)
Thanking you in advance for a cordial reception to our
proposition.
We are,
Yours faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (412)[...]S-La-39

98 Re erring to your telegram No. 888 Head Office debited
£30,000. Referring to your taegram of 12th July received from
National Bank of India Ltd. £20,075 proceeds of gold shipment and
freight £150. Credited Head Office £75 and balance 1;ote Issue[...]cial Account, New York sight rate on London is 4.86.

9. Weekly figures.

No, 700. Reterring o your telegram No. 887 Head Office credited
£200.0000. Referring to your telegram No. 889 Head Office debited
£100000. May we pay demand draft No. 184A Melbourne Branch E100
44th Fbruary, 19220 cover returned 31st larch last. Latest4vics
quotes[...]New York sight rate on London 4.85-15/16
Montreal tt II 4.86i/4
France T.T. tt ft[...],84
Czocho b ovakia n n 0 163.95
Germany (Reichwarks it Et 20.36
Portugal It 1[...]Calcutta ft n n II 1/5-57/6our telegram No. 884 He Office credited
£250,000. Referring to your telegram of 22nd May B, Hoe & Coy.
report test almost completed and estimate approximate price £4,500
f.o.b. London. When actually redy shall we arrange inspectioa
and report by Caunt as taiggestd by Ash? Do 1a Russ adhere to
stipulation ink contract but express willingness quote for auxiliary
machine as[...]sight rate on London Is 4.85-3/4

No, 702. Re e ring to your telegram No. 88? Head Office credited
£300,000. Our Letter of Credit 57 Gaunt Sydney Office B.N. 5646,
5839, 6047 paid. Balance due Coiamonwealth Bank of Australia Account
charge Z80t7:-. Referring to your telegram of to-day denomination
Bonds is usual allocation asked for by market for loan of Z1,0001000
and considered necessary for market purposes. Sugar prices. Cubas


13.96% polarisation 10/1(4 nominal, American granulated 14/6,
Canadian granulated 14/6, Java whites 11/9, Jaye average 17 tel gao[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (413)[...]1,000 as a
the debit of this Office. Receive from
he National Bank of A/asia[...]of Australia Ltd. £300O
as Tors. for credit of this Office.'Receive from the CommerciaI
Banking Co. of Sydne[...]000 25th July, 000,000
27th July as Tas, for credit of this Office. Under to-dayls date
purdhaso from Note Issue Dopartment British Treasury Bills Z500,0000
maturing 1st September, price 1E497,844:4:1 of Which credit Note
Issue Department Special Account £49[...]Debit Note Issue Departawnt Special Account credit Head Office
£500,000.
2[...]x,1,000
as Tas, to the debit of this office. Receive from Bank of New
South Wales the sum of £1,000,000 as a T.T. for credit of this
Officqp as follows[...]the debit of this Office. Brisbane Office
rem tted by sight warrant on 20th July 21,000,000 for the credit
Queensland State Governwent„ money to b invested on market.
Portion will be used to provide for Governme[...]urpose following half -yar.
sz
o, 890. Ref rring to your telegram of 25th July Melbourne Branch
draft No, 184A £100 may be paid, draw on d Office for cover.

• No. 891, Referr_l„; to our tele ram of 16th July, gold hipmnt
effected nargs Bay". Referring to your telegram of 19th June,
Melbourne Harbor Trust desires know whether nthber of £500 debea
tures could be increased and number of £100 reduced.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (414)[...]DirUi 4ZA/7/4a $
No, 892. Sugar Board desire quotation Dutch Belgian granulated
£15:17:6 c.i.f. Australian ports confirxied by Czarnikow. Referring
to your cable of yesterdayo No. 702, Gaun I please explain Item
£80:7:.

No. 93 fteferring to your telegram of 28th July under Gaunt
instructions Layaock lodged £147 credit his Bed Clause account
Sydney Office his this any relation transaction yourrid?

44)

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (415)[...]39

e•

OT/HEW

LETTER NO. 620.

The Manager,
LONDO,[...]JF i; 000 000
We have received your No.52a of the 28th ultimo with
regard to Brisbane City Council issue and note your advices
with considerable surprise.
When considering this matter we had before Us your
,cable of 3rd November last advising that if the Brisbane City
Council isnue were guaranteed by the cueensland Government the[...]two points better. 71e also had,
howOver, your cables of 11th Anril and 7th May-1924 advising,[...]nt guarantee would mean only a moderate
increase in issue nrice and would raise the question of guarantee
for previous issues, you did not recommend it and that Nivison
& Company thoug[...]e
the proposed loan.
In our cable of 20th ultimo we advised you that if it
were necessary to get a higher price the 4:zueens1nd G[...]also asked whether Nivison
Company considered the Government guarantee would ensure a better
price and asked what would[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (416)[...]S-La-39

guarantee. Your reply advising that Nivison s only reason
for assuming that the Brisbane City Council loan would be
guaranteed was that New York issues were so guaranteed and your
omission to answer the two questions at the end of our cable
conveyed to our minds the definite impression that Nivison
Company did not think that Government guarantee would ensure a


butter price.
7e accor[...]ve the Council any better price in London
as your only reason for suggesting it was that the practice
had already been established in New York; if your cable had
been to the same effect as your letter under reply our advices
to the Mayor would have been different.
Under the circumstances we now f[...]e should be glad if
you would see that in future more care is taken to prevent
misunderstandings and that definite answers are given to
enquiries.
Yours a ithfully ,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (417)[...]S-La-39

NI

LETTER NO. 621.

T: A
11,,44[...]OF
NIferring tii) your jotter fr.? , Jth
the Thrn, ,ny has alwarz 1,rel3ned qs toat roblite
allowed to u[...]hluA inflrm tho .Nato141 -Bank of India that we ere'.
nvaro that thoy were entitled to any rebate on the freigh
tht. * :"Idnelz re iovieverj rr4qusistieng, thfitr London
Dff1. to take the tter t th ttie 111t1onl a rett. r
the P ev,)#COM any wcro agreeable e sho'll be
vite prepared to allow, the ationa1 is Ilk 'o54` India thin rebate[...]53.0A paid to us In rt,111-4xict of tail
socially requoTted to leave dl[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (418)[...]9th August, 1928.

MIWILLO. .1. 62g.
Per, "11150#11Sarill If

The[...]e wrote you last on 31st ultimo, and have now
received your letters Noe.564 to 576 inclusive, dated 4th and
5th July, 1928.


92_12IYAXP _TPLEGRAPHIq CODE[...]priation against the otpher
"UGELA" to read as follows:-
"Remit in sterling to credit of L. KRIEKS with the
"Am[...]only, and they have been advised that the new reading will take
effect as from the 15th proxim[...]S ETC./

• ER. The specimen signatures etc., referred to in your
No.630 are now to hand and will be forwarded to our Branches
concerned in due course.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (419)[...]621
-
CO-OPERATIVE WHOL[...]e balance sheet of the above Society enclosewith your
No. 573 has been received with thanks.

ITY OF BRISBANE 1 000 000 5 STOCK 1950 60 @I 951. Your No.573.
The prospoctuses forwarded by you[...]which e thank you.

LONDON FUNDS 84 FINANCES. - Your No. 576.
We thank you for the advisee under this[...]04 FVNps - BANK OF ENGLAND.
We note from your No. 574, the arrangements made with the
Bank of England at the request of Sir Ernest Harvey regarding the
withdrawal of portion of our funds from the market and placing
of same with the Bank of England. As you know, it is our desire
to assist the Bank of England as far as possible in these matters,
and your action has approval.

DOCUM TARP WOOL CREDITS.
o WATT NNE BOSSUT FILS SYDNEY.
=IP A GzIERL LAN 'ERR FLIPO & CO. MELBOURNE.
LAHOUSSE PERE ET F Lo S.A.
0 BtRS & O. SYDNEY B ISB
E
The applications enclosed with your No. 568 have been
recteiveCand our branches concerned have been instructed as
necessary.

~AVIN,~S BASK . Your Nos. 566 end 867.
Your advioes are noted.

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (420)[...]072.
-3 ...

REUT TELEGRAM COMPANY LIMITED.
We duly received your cable of the 31st ultimo, advising
that the a[...]odge Z20,000- War Loan
Bonds with you and desired to draw up to that amount at any
of our Capital Branches temporarily from time to time. We


are not prepared to accede to a request of this nature and
replied to your cable that you may arrange for them to have
the accommodation at Sydney or Melbourne and remit from there
to other Capitals as necessary or, as an alte[...]20,000- could be made available
at any one of our Capital Branches from time to time under your
cabled advioeS. Your further advices in this connection
are now awaited.


94PS VIA nICSAK.ff //
We have received your cable of the 7th instant, requesting
that cable messages be not forwarded per the above medium in
future; apparently you have been experiencing trouble with such
of our mes3 es Which have been sent lately through this source ,
and pending your mail advioes all cables to you will be despatch-[...]BL We have noted the advices contained in your No. 551
for which we thank you.
We agree with your proposal to retain a piece of
the flannelette supplie[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (421)[...]S-La-39

for any future orders.

,CETRAT4 URIOI TRUST CO. OF NEW YD R4.
ER The notices regardingtheir lost Letter of Credit,
forwarded with your No. 5640 have been despatched to our
Branches interested.

13ANCA NAZIONALE D'ALB A1114 Yours Not 564.
ER The specimen draft forms have been forwarded to Capital
Branches and Fremantle.

AN No. 73.
ER[...]arrangements with this
Institution as set out in your letter abovementioned.
From cables whi[...]raft for Z901.11.54.
on Launceston Branch and, in view of the amount involved and as
no advice had been received, we deemed it advisable to cable you
and ascertain if cover had been lodged* your reply in the
affirmative being received Launceston Branch. was instructed to
make p[...]advisable to have the arrangement extended to
all our Brandies. Please take the matter up w[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (422)[...]K

ER it is with interest that we have perused the quarterly
Tabulati[...]NTAL ST_ WY ON WOOL BILLS.
LC or your information and records we append copy of
Associated Banks' (110 minute dated 27///28 in regard to stamp
duty on French Bills:-
"After discussion t[...]"New ;south Wales, Sydney, was agreed to, that
Banks be allowed freedom to protect, where
"necessary, theiv business ..ainst the Camptoir's
"competition, in regard to British or Continental
"Strulp Duty on French bills; but that only in this
"direction was Stamp Duty, under any circumstances[...]ociated
"Banks' arrangements already in force."


We hays decided to fall into line with the other Banks
and our Managers at Sydney and Melbourne have been advised that
they may waive the stamp duty (British and French) in cases
where a specific request is made and where it is necessary to
protect our businewa.

OtTRNE HAB0R UST AN OF £1,009 000.
EL Referring to our letter of 3rd ultimo (No.604) we
**bled you on 27th ultimo, at the Trust's request an enquiry
aS to whether the number of £100- debentures could be reduced.
Your reply of the same date that the denominations of Debentures
previously asked for was the usual allocation[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (423)[...]-
Trust, and we are endeavouring to arrange for the early com-
pletion of the debentures.
Considerable difficulty is being experienced in this
regard, as the Trust appears averse to having the debentures and
coupons definitely domiciled at your Office; they prefer the
somewhat vague expression "payable in London at the Bankers of
the Trust for the time being" on debentures whIle for coupons
they object to anything beyond "payable at London." In view of
your advices in connection with previous loans we have stressed
the necessity for having the debentures and coupons definitely
domiciled. We cabled you in this connection on 7th instant,
and are now awaiting your reply.

ALETUALSIMICITAt.
BL For your information we have to advis,,-) that it Is


probable that the Council will desire to float a further loan
of £1,000,000 - £10 500,000 by about the end of the year. The
Council's requirements up to £930,000 for the next few months
are being provided by US and are to be repaid from proceeds of
a new flotation.[...]ondon on behalf or the Council,
We are passing similar advices on to New York.
Yours faithfully,[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (424)[...]app oved
Dated 2 .
No. At. ring to your telegram of 26th Jul N. 701
please obtain aree quotations from Iloes on basL, one five and
ten chin. Do machines give good results on dry paper. We
can hardly a aunt report on mach'ne made by rival firm but
should be lad if Bank of England would agree authorise Mr.
Chamberlain y iv efit his o[...]forward
samples work on damp and dry paper

N .896 Associated Banks have decided to discontime Wo[...]al settlement will take
place as at 27th instant. Referring to your telegram of
yesterday Reuters Telegram Coy Ltd. you may arrange for them to
have limit of £20,00- at Sydney or Melbourne and remit from there
to other capitals ar.) necessary or they could ha[...]£20 000 7Ja. Loan
Bonds.

n rNugust receive from The Un on Ban of Australia
of Z10'0 000 as a T.T. for credit of this Of ice
Dated
o.898 ncasso an Rot[...]cover been lodged with you.
Da 4 81.1.
No. . Receive from Commercial Banking Coy of Syd[...]00 7th August, 250 000 9th August. as a T.T. for cred t
s Office
Dated 7 28.
0.900 Receive from The Commtr isl Bank o Aus ral a Ltd
the sum o Z100,000- as a T.T. for creditof this Offic
Pay to:-
Bank of Nor South Vales the sum of 36 000
The s land Natl. Bank Ltd. " £2[...]0
as T.Ts. to the debit of this Office.
Receive from The Commercial Bank of Australia Ltd. the
sum of 50 000 as a T.T. for credit o this Office.[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (425)[...]FROM LONDON.

gures.
ated 8
No. 706. Latest London market quotations (after deducting accrue(
interest) of the following securities are set out hereunder:
Commonwealth Government 5% 1945/75 £90 -
N.S. .11 , Government 0 1945/68 £98 -
Victorian Government * 19[...]•
Queensland Goverment 5% 1940/60 £98 5 -
S.A. Government k/[...]ay Trust 5...;1% 1944/54 £97 5
Melbourne Tramways Board 5% 1944 £93 16 -
Brisbane Water Board 6 1949 £93 10 -
Now Zealand Government 55' 1946 £103 5 -
South African Government 5% 1945/75 £102 15 -
Referring to your telegram of 28th Jay Csarnikow confirm quotation[...]ipment 500 0 1000
tons would be based on conference rates at prevent about IA- to
£1.5.- per ton more . Reuters Telegram Coy Ltd . propose lodge


£200 000 war loan. bonds here and desire to draw up to that amount
at any of our Capital branches temporarily from time to time[...]8.
Dated lip/28.
No. 107. We have to-day credited Head Office with £11,250-
representing interest on securities held on account of the no te[...]sight rate on London 4.85 5/8
Montreal 0 0 4.85 7/8
P[...]83
Ozeoho-novakia n * 163.81
Germany (Reichmarks) T.T." 20.34[...]1/5 57/64
0 ft[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (426)[...]60V--

2/8 .
Ito. 708 rieferr ng to your telegram No. :8 Head Of fice
cr441ted Z250,000 Ne York sight rate on London is 4.85 9/16.
41A5 8. 28.
09. Referring to your telegram No.897 Head Office credited
Z100 000. ferri4:3, to your telegram of to-day cover remitted
Launceston -ranch 29th June, our credit note No. 744
New York sight rate on London is 4.85 7/16,

No. 10. Referring to your telegram No. 899 Head Of
credited £200.000,
Dated 78 2
o. filming to your letter or 13th June would strongly
recommend you not to use Beam service. Referring to your
telegram No.888 Head Oft tee credited £250,000. Referring to
your telegram No.899 Head Office credited Z250,000. Referring
to your telegram No. 900 Head Office credited £1150000 debited
£79,000.
Referring to our telegram of 9th July Macdonald increase
our lien to a 000. N.* York sight rate on London is 4[...]York London have opened eonfirwed
Letter of Credit 200130/1 their favor £50,000- account their
Tokio house drafts at 60 or 90 days sight on National City


Bank[...]ing wool and/or wool tops
Australia to Japan freight payable at destination. Red Clause
full extentone copy of invoice, certi[...]o this effect must be attached to
drafts with remaining documents. Credit expires on tIst
January next. Record as Letter of Credit No 159.
Dated 7 8 28.
No. 7 3. Wo kl

Rated 818/28.
0,714. Referring to your telegram No, 01 d Office debited
£31,00[...]sight rate on London 4.85 15./32
Montreal 4.05 7/8[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (427)[...]“
163.81
Germany (Reichmarks) 20.36
ci
Portugal[...]1/5 57/6
Shanghai[...]
Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (428)[...]6.23,

uet, 1928

or,
N.[...]0
In order that the rrequired forms for the renew's.'
of the Bank s Licenue to conduct an Agency[...]l be d if you will cable tho above balance figures
using he schedule as oet out in our letter of the 10th
41101mon r 1922[...]

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (429)[...]TIAL ttigust 1928

The Manager,
41 LONDON,
Dear[...]Je thank you for the advices contained In your No.565.
We presune that tho inclusive rate of covering fret(' ^ and
insurance wolld nisi) apply for any fut,re thi-mente
desire to mal,:o0 but should LT glad of your adv_ces in the
natter.
74) t* Uit the above char7e o includes 6/
frIg:t and 1/ , uranceo• Please acIvise ;.ether there wou
be any objection to our arrancing our own insurance for any
future shinments our payment —to the shipping office to be C
ever freight only.
A8 you are aware, w Imes make shilments of
gold[...]and 'Wrath
Yours fa y

MD

Secretary's Department - London Letters - To London (Indexed) October 1927 - August 1928
01/10/1927 to 31/08/1928

Secretary's Department - London Letters - To London (Indexed) October 1927 - August 1928 (01/10/1927 to 31/08/1928). Reserve Bank of Australia Unreserved, accessed 04/10/2024, https://unreserved.rba.gov.au/nodes/view/47958, https://doi.org/10.47688/RBA_Archives_2008/03662https://doi.org/10.47688/RBA_Archives_2008/03662

Secretary&#039;s Department - London Letters - To London (Indexed) October 1927 - August 1928 (2024)
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