لها
See (1) on 53671/35.
See enclosure to (1) on 53671/35.
lack of liquid assets but also from their small
proportion of paid up capital. of the Book big
Department Stores in Hong Kong, the Wing On and
the Sincere Companies were typical examples of
the Savings Bank side of Chinese trading
institutions.
It is, however, most noticeable that
the Committee of Inquiry considered that it
would not be either desirable or practical to
attempt to devise legislation for the control
of either those Chinese shops which accept
which deposits or of the Chinese banks who conduct
their business in Chinese fashion and keep
their accounts in the Chinese language. Such
H
shops and banks are ordinarily proprietary or
partnership concerns and are not formed or
incorporated as companies.
Those who entrust
their money to their care do so in reliance
upon the personal integrity, business acumen,
and financial status of the proprietor or
partners, and the Committee considered that no ef-
fective control could be achieved and that
intervention might result in persons placing
reliance on an ineffective Government control
harthy This cónfirms the
This cónfi:
rather than on the status of the proprietors
or partners as they do now.
doubt expressed by Mr. Kemp, Attorney General
in 1930, as to the wisdom of an attempt to
(Acom for it confines them dowle A a fartanla dans supervise or control Chinese banks. The
of bank
No.39 of 1932.
present legislation then is confined to
banking companies formed and incorporated under
the Company's Ordinances or which being
constituted