upon
a great boon by nearly every one interested:
in the welfare of this Colony.
I have yea
(Signed) Frances Chomley
Chairman.
(Bruce Copy)
Colonial Secretary
Intimations.
THE HONGKONG AND SHANGHAE BANKING COMPANY,
LIMITED.
Capital - $5,000,000,
In 20,000 Shares of $250 each.
TO BE INCORPORATED BY CHARTER.
Provisional Committee.
Hon. F. CHOMLEY, Esq. (Messrs Dent & Co.)
A. F. HEARD, Esq. (Messrs Aug. Heard & Co.)
THOMAS SUTHERLAND, Esq. (Superintendent P. & O. S. N. Co.'s)
G. F. MACLEAN, Esq. (Messrs Lyall, Still & Co.)
Douglas Lapraik, Esq.
W. NISSEN, Esq. (Messrs Stemssen & Co.)
H. B. LEMANN, Esq. (Messrs Gilman & Co.)
W. SCHMIDT, Esq. (Messrs Fletcher & Co.)
ARTHUR SASSOON, Esq. (Messrs D. Sassoon & Sons & Co.)
ROBERT BRAND, Esq. (Messrs Smith, Kennedy & Co.)
PALLANJEE FRAMJEE, Esq. (Messrs P. & A. C. Camajee & Co.)
WM. ADAMSON, Esq. (Manager, Borneo Company Limited)
GEO. J. HELLAND, Esq. (Messrs John Burd & Co.)
RUSTOMJEE DHUNJEESHAW, Esq. (Messrs P. F. Cama & Co.)
Counsel.
E. H. POLLARD, Esq.
THE Scheme of a Local Bank for this Colony, with Branches at the most important places in China, has been in contemplation for a very long period.
The local and foreign trade in Hongkong and at the open ports in China and Japan has increased so rapidly within the last few years that additional Banking facilities are felt to be required,
The Banks now in China being only branches of Corporations, whose head quarters are in England or India, and which were formed chiefly with the view of carrying on exchange operations between those countries and China, are scarcely in a position to deal satisfactorily with the local trade which has become so much more extensive and varied than in former years.
This deficiency the Hongkong and Shanghae Banking Company will supply, and will in fact assume the same position with relation to this Colony as the Presidency Banks in India, or the Banks of Australia in their respective localities.
The Establishment of a Mint in Hongkong, providing an adequate supply of proper currency, will render a local Banking medium essential to carry out its operations, and the almost certain disappearance of the existing Compradorie system (so far as money is concerned) will also ensure Banks becoming in course of time the exclusive medium for the transactions of the monetary operations connected with trade.
For the anticipated success of this enterprise there are therefore ample grounds; and the great prosperity which has attended the working of other local associations in China clearly shows that the largest profits are obtained by those Public Companies which possess an interested local body of Proprietors or Shareholders, whose support naturally forms a chief element of remunerative success.
The Bank will commence operations simultaneously in Hongkong and Shanghae, and as the importance of its business at the latter place must be very great, it is intended to establish a local Board of Directors there for more effectually meeting the work. As circumstances render it advisable the Bank will establish Branches at other places.
In the distribution of Shares Hongkong and Shanghae will equally participate. Shares will also be reserved for the other ports in China and Japan and for persons residing elsewhere, who are directly interested in the China Trade.
Applications for Shares must be addressed, until further notice, to the Provisional Committee, care of
MESSRS DENT & Co.
Hongkong, July 29, 1864.
241
S
upon
a◊ a
at boon great
by nearly every one interested:
in the welfare of this Colony.
I have yea
(Signed) Frances Chomley
Chairman.
( Bruce Copy)
Colonial Secutary
Intimations.
THE HONGKONG AND SHANGHAE BANKING COMPANY,
LIMITED.
CAPITAL-$5,000,600,
In 20,000 Shares of $250 each.
TO BE INCORPORATED BY CHARTER.
Provisional Committee.
Hon. F. CHOMLEY, Esq. (Messrs Dent &
Cv.)
A. F. HEARD, Esq. (Messrs Aug. Heard &
Co.)
THOMAS SUTHERLAND, Esq. (Superintend ent P. & O, S, N. Co.'s),
G. F. MACLEAN, Esq. (Messrs Lyall, Still & Co.)
Douglas Lapbaik, Esq.
W. NISSEN, Esq. (Alessrs Stemssen & Co.) H. B. LEMANS, Esq. (Messrs Gilman &
(k)
W. SCHMIDT, Esq. (Messrs Fletcher & Co.) ARTHUR SASSOON, Esq. (Mesars D. Sas
> n Sons & Co.)
ROBERT BRAND, Esq. (Messrs Smith, Ken- Ledy & Co.)
PALLANJEE FRAMJER, Esq. (Messrs P.&.A. C. Camajee & Co.)
WM. ADAMSON, Esq. (Manager, Borneo Company Limited.)
GEO. J. HELLAND, Esq. (Messrs John Burd & Co.)
RUSTOMJEE DHUNJEESHAW, Esq. (Messrs P. F. Cama & Co.)
Counsel.
E. HI. POLLARD, Esq.
THE Scheme of a Local Bark for this Ce- lony, with Branches at the most import- ant places in China, has been in contemplation for a very long period.
The local and foreign trade in Hongkong and at the open ports in China and Japan has increased so rapidly within the last few years that additional Banking facilities are felt to be required,
The Banks now in China being only bran ches of Corporations, whose head quarters are in England or India, and which were formed chiefly with the view of carrying on exchange operations between those countries and China, are scarcely in a position to deal satisfactorily with the local trade which has become so much more extensive and varied than in former years.
This deficiency the Hongkong and Shang- hue Banking Company will supply, and will
in fact assume the same position with relation to this Colony as the Presidency Banks in India, or the Banks of Australia in their re spective localities.
The Establishment of a Mint in Hongkong, providing an adequate supply of proper cur- rency, will render a local Backing medium e-sential to carry out its operations, and the almost certain disappearance of the existing Compradorie system (so far as money is con- cerned) will also Ensure Banks becoming in course of time the exclusive medium for the transactions of the monetary operations con- nected with trade.
For the anticipated success of this enterprise there are therefore ampie grounds; and the great prosperity which has attended the work- ing of other local associations in China clearly shows that the largest profits are obtained by those Public Companies which possess an interested local body of Proprietors or Share- holders, whose support naturally forms a chief element of remunerative success.
The Bank will commence operations sim- ultaneously in longkong and Shanghae, and as the importance of its business at the latter place must be very great, it is intended to establish a local Board of Direc ors there for more effectually meeting the work. As circumstances render it advisable the Bank will establish Branches at other places.
In the distribution of Shares Hongkong and Shanghae will equally participate. Shares will also be reserved for the other ports in China and Japan and for persons residing elsewhere, who are directly interested in the Obina Trade.
Applications for Shares must be addressed, until further notice, to the Provisional Coin- mittee, care of
MESSRS DENT & Co. Hongkong, July 29, 1864.
241
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