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COPY.
331
Translation.
Extract from Sai Kai Kung Yik Po, Hongkong, 5th. April, 1913.
Proposed institution of an ordinary bank.
Seeing that on account of the present financial stress and the scarcity of money, it is very difficult to establish a Government Bank, and that since as enquiries show
the money firms kept by the different merchants have very much the
same bearings as a bank, the institution of an ordinary bank in-
-stead can also render much service to the Government, Governor
Wu has telegraphed to Li Yuk Tong requesting him to proceed to Canton and discuss the various necessary measures for the promotion
of a union of all the money dealers in Hongkong, in order to
institute a mercantile bank, with a view to the relief of the
present financial crisis. Further he has directed the Assistant
Secretary properly to draw up some regulations for the proposed
bank, that so they may be submitted by telegraph to the Central Government for approval.