CO129-489 - Governor Sir Stubbs & Sir Clementi - 1925 [8-12] — Page 507

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arsyaab adt to smos duo žalog at bomplia

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zizaq yam I,moja

·SIVASOM OMULÍza na dome Te guidać odi siża wyawin dał cie - nolasove malisin a 22 beln nå erseď od žum azagaah sendi

-nutie Islomaa?? adź To ajoutto ndé hmo posutiã odë në nesër

vion A, bezahl neon ¿listesse oë Juum jai nedi 31 an „mold

11.solvek mezeztah a ni së Lia ja misajazam odi

në mizojasom a winlash në vožtoong naligas nút moood 12 (jačkasi-zero of fondo Lenutan adi,ałażro Inčonani? yearo God amond kinow „alaiso gait Laos

-xaan on seasdratnih Lonitiing yi haitisnut vino ni àI

To saiosana yunalise on danê yêżannini simen to ban hajnog 132 Joes of insis¿Tua að kløen éiginsel ve soldama andELE MAI ď edi osas sidi ni janë botuesh

yuna ban aland bezatažges seminů

buvau mĖTOJATOM

soul, në nożnangnan Is pileumann náð mext mlaod ovžiam mát Te

Leioasalt edi bosinsgranih plezalques

scurt, odi exeted pistaihound herzmoos #1

-onoqroq assado pidadaną

• umožnŬ ndé Ye alıdal

-joč jade zet sidivnoqni ti

a_nadaxă foart to flad odt om

jafnað adź merk manol yd boucheż?

„mined sylvast nút guider lar bajnato moitas ald? „honimosą gloeila JTI

evenind sdt gaam vanosť meanders. To ma

XoojƐ a man erade just af

Fed

benoştreg að

„okang nyandazi ni di yonovarinos To tâm a Líkêu už množčasikišusį sosɗİN -elow œsed avad binor ezedł mʊneograng ndé vot død dadd more

ni giaremos and dgvordi harqe ovad blow dołów soruitsi sisa

the well known way in which a Stock Exchange crisis passes into

a general commercial erisis. Still the postponement made it

easy for many to dishonour their contracts, and the result was

a state of chaos in the share market, which still exists. In

passing. I should like to add that it is open to question whet- her bankers were justified in withholding their support from the Stock Exchange at a time when such support was more than ever

necessary for the general good of the community.

it

Financial Hesenze (c) Gereramant-Ga

138.000.000 to ABATE BANNT.

73. The native banks are distinguished from the Chinese reg-

istered banks by their methods of doing business. Until about six or seven years ago their madus operandi were to receive current and fixed deposits, and use the funds thus obtained to finance native trading operations of their clients. This type

of business calls for personal acquaintance with the parties be- ing financed, and is sound and safe enough when carried out on

the usual Chinese lines and with dus cantion. But the native

banks had been tempted by the profits to be got from working on western lines, and consequently used their funds to finance share and property transactions. The excessive speculation in shares and property of the last two or three years has been due to the large influx of money from Canton and South China, generally for safe investment in the Colony. The native banks had financed such transactions in excess of prudent limits, so that when an organised run was made on them at the end of June, they were un- able to meet all their obligations, the securities held by them being unrealizable at the moment. In this sense they had been over-trading, and in spite of the support which was extended to the Hongkong & Shangnai them by the two leading English Banks Banking Corporation and the Chartered Bank of India, Australia and China by a loan of $6,000,000 (backed by Government guaran- tee) on the 29th June, seven of them have since failed,

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