CO129-437 - Public Offices - 1916 — Page 636

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TRANSLATION

Extract from Goverment dasette of June 18th 1916

Ministry of Communications to Board of Audit.

Bir,

June 14th 1916

634

1

I have the honour to moknowledge the receipt of your letter stating that, as you k ve the duty of auditing tha

accounts of the Banks of China and Communiostious and

sssing whether their receipts and expenditure are in order, you wish to be informed as to the total quantity of notes issued by them at the time speole payment was stopped; whether or not their reserves consist entirely of silver

and what is the real state of their other assets and lia-

bilities, and you request that the Bank of Communications

should be instrusted to prepare a detailed statement on

the subject for the oonsideration of your Board.

The matter was being dealt with when your second

communication to the sake effect was received.

Both your letters have been sent to the Head office

of the Bank of Communications for a reply.

In the meantime, I bar to point out that the Bank

of Communications is a joint stock company with limited

liability. The former Yu Chuan Pu, with a view to

encouraging the progress of communications, took up shares

to the amount of Ku Ping Taels 2,000,000, and this Ministry

is thus in the position of a mere sharsholder.

But se

Article 7 of the statutes of the Bank, published on Varch

16th 1914, provides that "the Bank of Communications shall

take charge of Government Treasury funds in certain

special accounts", this Ministry has on the one hand the

status