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absolute want arising out of the inability of the Branch Banks established here to meet the varied requirements of local trade. This the business between Hong Kong and the open ports in China and Japan is of the most extensive character and implies a more special mode of dealing than any Bank Agency can possibly supply. In this respect the promoters of Shanghai Bank believe that from the experience of its Directors and the sources of information at their disposal, arising from the fact of the proprietors being connected with every branch of trade in this Country, they will be enabled most materially to aid the legitimate working of business.
The promoters of the Bank have also in view the change about to take place in the currency of this Colony and perhaps of China and believe that by the personal influence of those connected with it they will be in a position to take a very prominent part in carrying out this measure.
I have to add that although the Bank is not fully aware of all the Conditions on which Colonial Charters are granted it is believed that two of these conditions are such as it might be advisedly arranged to modify in the present case. The first is contained in par: 325 of the rules and regulations for Her Majesty's Colonial Service which insists that the second moiety of Capital shall be paid up in two years from the date of Charter.