XN000022-1975-12-12 — Page 1

4000035 P.A, 11

HONG KONG GOVERNMENT

NFORMATION SERVICES

DAILY INFORMATION BULLETIN

SUPPLEMENT

FRIDAY, December 12, 1975

TEXT OF SPEECH BY THE GOVERNOR, SIR MURR.Y MICLEHOSE

AT THE OPENING OF THE NEW HONG KONG AND SHANGHAI BANK OFFICE IN NEW YORK AT 8 P.M. ON DECEMBER 11 (NEW YORK TIME)

"Gentlemen, we are here to celebrate the opening of the

new premises in the world trade centre of the Hong Kong and Shanghai

Bank. It has been represented in New York since 1875. In the

intervening century it has grown into a house of considerable

significance on the world banking stage, and this new New York office

represents all members of the present Hong Kong Banking group, including the

British Bank of the Middle East and the Mercantile Bank.

"The very distinguised gathering here this evening is a tribute

to the reputation new enjoyed by the Bank and also to the

standing of its Chairman, our host, ir. Sayer.

"It is a bank of the old school. Its unostentatious strength

and good sense always puts me in mind of Shakespeare's classic dictum

in King Lear 'Have more than thou showest speak less than thou knowest

lend less than thou owest'.

"But behind the panelling and the marble, and lovely cullection

of Chimerys on its walls there is everything that thrust imagination

and modern technology can give. And I am delighted that the Bank,

and thus Hong Kong with whose fortunes it is so closely connected, are

expanding their presence in this city, which contains the greatest

concentration of financial power in the world.

And if this presence

encourages American interest in Hong Kong so much the better.

/"merican