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India.
My Lords are aware that in 1887 the Bank applied through the Colonial Office for Their Lordships' consent to open Branches at Shanghae, Foochow, Yokohama, and Nagasaki, and Agencies at Bombay and Calcutta; but it does not appear that Their consent to that application was ever formally signified; nor have they any record that Their consent has been given to the establishment of a Branch Bank at any place except at Singapore in 1891.
Their Lordships, however, observe that, according to the Bank's own advertisement as inserted in "Burdett's Official Intelligence", the Bank has established itself at places where the previous consent of the Treasury was required but has never been given, and likewise at places in which it was by its constitution disabled from carrying on business.
Accordingly, it is evident to this Board that the Bank has systematically violated the instruments by which it was incorporated.
The Hong Kong Ordinance of 27th November 1889 having removed some of the restrictions previously imposed on the Bank, My Lords are now invited to give a general consent to the establishment or continuance of some 25 Branches and Agencies, including Singapore; and I am to state that They feel precluded from giving such consent without receiving explanations of the Bank's past proceedings, and a distinct assurance from the Bank that the provisions of the Ordinance of 1889 will not be neglected like those of the 1866 Ordinance.
I am,
Sir,
Your obedient servant.
Rewilly
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289
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India.
My Lords are avare that in 1887 the Bank applied through the Colonial Office for Their Lordships' consent
to open Branches at Shanghae, Foochow, Yokohama, and Nagasaki, and Agencies at Bombay and Calcutta; but it does not appear that Their consent to that application was ever formally signified; nor have they any record that Their consent has been given to the establishment of a Branch Bank at any place except at Singapore in 1891.
Their Lordships, however, observe that, according to the Bank's own advertisement as inserted in "Burdett's official Intelligence", the Bank has established itself at places where the previous consent of the Treasury was required but has never been given, and likewise at places in which it was by its constitution disabled from carrying
on business.
Accordingly, it is evident to this Board that the Bank has systematically violated the instruments by which it was
incorporated.
The Hong Kong Ordinance of 27th November 1889 having removed some of the restrictions previously imposed on
the Bank, My Lords are now invited to give a general consent to the Establishment or continuance of some 25 Branches and Agencies, including Singapore; and I am to state that They feel precluded from giving such consent without receiving explanations of the Bank's past proceedings, and a distinct assurance from the Bank that the provisions of the Ordinanc of 1889 will not be neglected like those of the 1806
Ordinance.
I am,
Sir,
Your obedient servant.
Rewilly
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