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Directors recognise that they are now faced
with altered conditions which tend to centre
the supreme interest of the Bank in the Far
Eastern Trade, particularly in the Treaty Ports.
The Bank has now branches in Hankow and Swatow
as well as in Shanghai and Canton, and intends
shortly to open branches in other parts of
China, a policy which will entail large dealings
in silver, and with the Head Office of the Bank
situated in Hongkong where the currency is
likewise in silver it is considered that on
all grounds the balance of convenience lies,
and vill in future always lie, in favour of
having its capital in silver. It is therefore
desired to reconvert the capital into Hongkong
Currency, and with a view to this being final
olause 6 of the Bill repeals the Ordinance
No.6 of 1919.
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