The following is from the official report of a meeting of the Legislative Council of the Straits Settlements, held on the 30th December, 1880 Mr. Shelford:—Sir, the Colonial Seoretary was good enough to accept from me, a few minutes ago, notice of a question which I wish to put to the Government—to inquire whether the Government has received any recent communication from. the Secretary of State relative to the applica tion of the Hongkong and Shanghai Bank for permission to open a Branch at Singa-Pore. 2 The Colonial Secretary:—In reply to the Hon'ble member, I beg to state that I am unable to give him the exact date of tha despatch, but within the last few months the Secretary of State has communicated with this Government with reference to the application of the Hongkong and Shanghai Bank to be allowed to open a Branch here. At present they have only an Agency here, and they want to open a Branch to enable them to issue notes and transact other business incident to a Branch Bank. The Secretary of State looked favourably upon the request, bnt before deciding there was attached a condition to the request being granted, which was that the Head Office at Hongkong should forego the right which it now holds of issuing $1 notes. The Secretary of State said that on receiving a reply acceding to that condition, he would assent to steps being taken toa Branch being opened here. A Bill has been drafted, which will be Inid upon the table as soon'as definite instructions have been received. These are probably already on the way, as I have heard direct from Hongkong that the Hongkong and Shanghai Bank there has agreed to the condition which the Secretary of State imposed.
Text read from the printed page and cleaned; old type leaves the occasional error.