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Conditional permission on the terms stated at the end of Mr. Manis' minute. It seems to me that the first is preferable if more notes are wanted than can be supplied by the privileged banks. It would be better to multiply the want by Tate & Co. which is preferable in all groups.
Que 12/0 Grube is not better, I fear. I do not think the Bank in question is thought well of or looked upon with favour by the authorities concerned.
In reply to your letter of ... Corvine Combe be ... if the ... you ... chapter of a respectable Bank ... rather inclined to allow the issue under the stated conditions. By We Wald Ausubi Trosuz further ...
In Buxton - This National Bank of China is a most unsound concern. It was brought out by the National Trustees, Executors & Securities Corporation, Paine Son & Pollack under the auspices of and with the usual arrangements of Founder's Shares, heavy underwriting, etc., a gross speculation. Out of 100,000 shares, less than half were subscribed, and of these, 70% remain to this day in the underwriting syndicate's hands. In fewer than 2,400 shares have been cancelled in non-payment of calls, in itself a fact which is sufficient evidence of the Company's discredit.
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