C. O. 10170
RECEIVED 16 JUN 56
4.
I am informed that the suspension of the Oriental Bank has not caused any large or general losses or financial panic at Hong Kong, as it is feared here, may at Singapore, Calcutta, and elsewhere. The greater part of the Banking business here is in the hands of the Hongkong and Shanghai Bank.
I have the honour to be, My Lord, Your Lordship's Most obedient Servant,
B. B. Bowen
I may take this opportunity of acknowledging the receipt of your Lordship's telegram of the 3rd instant to the following effect:- "Information required by telegraph as to gross dividends due from Oriental Bank to Government of Hong Kong." "Answer without delay!"
To which I replied on the same instant. "Oriental Bank owes Government nothing. Deposits already repaid!"