23rd May 1965

The Hongkong and Shanghai Bank
Central PO BOx 227
Osaka,
Japan

Dear Mum, Dad and Alan,

We have had a very sunny weekend and with a Saturday morning off we took the opportunity of visitin Kyoto after having lunch on the top of hills overlooking the town and the southern tip of Lake Biwa.  The lake is a freshwater inland one, very extensive, as we only saw the southern tip and it must be possible to take boat trips on it later in the year.  There were lots of sailing and motor boats about, but the place was not as crowded as it obviously can be in the season.  We later went up Mount Hei, about 3000 ft and then crossed a valley to the next highest point where a large revolving observation tower gave us views over the lake one way and back over mountain ranges the othere.  Down into Kyoto after this to see another temple, a lot more impressive than the last lot we looked at in the snow and afterwards to a famous silk factory.  Here they were demonstrating on machines brought in from Lyon 80 years ago.  They produce the raw silk there and complete all the processes to the finished article.  The gardens attached to the building contained a large pond full of enormous carp and goldfish. some nearly a yard long and very fat.  Nearby they had a pottery kiln where visitors paint there own plates and fire them.  We were without children and just looking about for places of interest for them for the holidays.  They are to have 3 months.

I have been taking Adrienne in writing which has affected my own horribly as I am thinking of her lettering all the time.  Caroline is having to catch up on her arithmetic and Susan her reading.  The school's solution to lack of progress is to put them back rather than to make them do it, so we are taking a hand and they are soon picking it up.

I have had confirmation from London that I am not subject to gift tax nor capital gains tax so all is well there.  Although with the present state of the market there is little risk of having a gain.  Even banks are very much down, but this is due to a fall in trade in Hong Kong.  Japan is having a series of bankruptcies just now.  Companies here have been making losses but producing accounts showing profits, on which they pay taxes and dividends!  Then bust they go, taking many other firms in the trade with them.  The latest is a leading securities firm with a minus figure of Y 1700 000 000 000 - if I have got the noughts right.  Y 1000 = £1.  This is to be supported by the govt. through 10 banks and will continue to trade.

By the way I should have got that book on balance sheets so tell Alan not to bother and I will order from here.  I have done a lot without it, but I need something to refer to.  One customer presented me with a Japanese doll, the kind in a glass case dressed in silk kimono, to compensate for the struggle I had with his figures, but it may have been my own lack of knowledge in not being able to sort them out.  All presentations are different and it may be that they use an American system.  Also translation from Japanese will add to the distortion in the names of accounts.  However, it will all add up in the end.

Heres wishing you Many Happy Returns of the Day Mum and I hope you have a sunny day.

Cheerio for now and Love,
Peter.