CO129-212 - Governor Sir Bowen - 1883 [10-11] — Page 50

CO129 Colonial Office Hong Kong Records 理藩院香港檔案 All AI Reviewed

Loven-

quite recently to clouse refund of thick deposits, some of which have conserumutly remained on the banks for years. I think it fair that the Banks might fairly argue that when Government proposes to exercise its right of withdrawal it should give reasonable notice beforehand. The conditions under which they take these deposits are exceptionally favourable to Government as they allow the same rate of interest as fixed deposits for twelve months.

5. Under these circumstances claims for refund of deposits in the Oriental Bank and the Chartered Mercantile Bank (alling due within a few days) have not been pressed, but notice has been given that other deposits which will fall due at the end of this month and the middle of next month will be liquidated.

6. Since writing the foregoing I have been informed that it is reported by telegram that the question of putting the Chartered Banking Corporation into liquidation is to be considered this week by the Share holders in London. Should the step be decided on, I fear that the Branches here will not be able to cash

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49 Loven- quite recently to clouse refund of thick deposits, some of which have conserumutly remained on the banks for years. I think it fair that the Banks might fairly argue that when Government proposes to exercise its right of withdrawal it should give reasonable notice beforehand. The conditions under which they take these deposits are exceptionally favourable to Government as they allow the same rate of interest as fixed deposits for twelve months. 5. Under these circumstances claims for refund of deposits in the Oriental Bank and the Chartered Mercantile Bank (alling due within a few days) have not been pressed, but notice has been given that other deposits which will fall due at the end of this month and the middle of next month will be liquidated. 6. Since writing the foregoing I have been informed that it is reported by telegram that the question of putting the Chartered Banking Corporation into liquidation is to be considered this week by the Share holders in London. Should the step be decided on, I fear that the Branches here will not be able to cash

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49 Loven- quite recently to clouse refund of thick deposits, some of which have conserumutty Imained on the kims for years. I think thin for that the Banks might fairly ungs that when Tower_ -:ment proports to sucrose its right of withdrawal it should give " reasonable notice beforehand. The conditions under which they taker these deposits are exceptionally · favourable to Prverumect as they howe ' allow the same rate of interest as : fixed deposits for troelse macths. 5. Under these arcumstances claims for refund of deposits in the briental Bank and the Chartered Mureautils 1 Mercantile Bank (alling dura within a few days have not brow pressed, but notion has bene Come given that other deposits which will fall dus, at the end of this mouth and End of the middle of nest mouth with Siquind J 6 Sines writing the foregoing have been informed that it isnported by tilegram that the questions of putting the Crintal Banting. Corporation into Riquidation is to be considend this week of the Share holdus in hondore. Should the Hip by decided on, I fear that the Brauchs here will not be able to Cash

2026-05-23 22:56:41 · Baseline

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Loven-

quite recently to clouse refund of thick deposits, some of which have conserumutty Imained on the kims for years. I think thin for that the Banks might fairly ungs that when Tower_ -:ment proports to sucrose its right of withdrawal it should give " reasonable notice beforehand. The conditions under which they taker these deposits are exceptionally

· favourable to Prverumect as they

howe

' allow the same rate of interest as : fixed deposits for troelse macths.

5. Under these arcumstances

claims for refund of deposits in the

briental Bank and the Chartered

Mureautils

Mercantile Bank (alling dura

within a few days have not brow pressed, but notion has bene

Come given that other deposits which will fall dus, at the end of this mouth and

End of the middle of nest mouth with Siquind

6 Sines writing the foregoing have been informed that it isnported by tilegram that the questions of putting the Crintal Banting. Corporation into Riquidation is to be considend this week of the Share holdus in hondore. Should the

CO129-212 - Governor Sir Bowen - 1883 [10-11] — Page 50

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