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Local Bank which is now being established in this Colony.
There is no whatever in this Colony as regards legal restriction of Banking the establishment Companies, or the issue of Notes, but the shareholders of the "Hongkong and Shanghai Banking Company" are anxious to be declared Corporate Body, and to be recognized by the Local Government to the extent of having their Notes taken at the Treasury, and in return for these advantages willing to conform to all the conditions prescribed in Section III Chapter IX. of the Colonial Regulations.
They derive, however, as you will observe that Articles 325 and 335 of the Regulations should if possible be modified for the reasons explained in the accompanying letter of their Chairman, and I should be glad to be informed whether their wishes in this respect can be complied with.
All the shares of the Bank have been taken up eagerly, and the project has received the warm support of the whole Foreign Mercantile Community, not only here but throughout China and Japan.
The Ordinance of Incorporation with the modifications desired with...