No_2_1956 — Page 20

THE WING ON BANK LTD.

行

The bronze grille to the Wing On Bank

entrance.

Main banking hall on the ground floor.

Modern book-keeping machines used by the Bank.

pendent corporations, but administered In a book issued in 1932, commemorat- and controlled by the nucleus of the original Directors.

These were in 1915 The Wing On Fire and Marine Insurance Co., Ltd., in 1917 the Great Eastern Hotel, in 1921 the Wing On Godown Ltd., in 1925 The Wing On Life Assurance Co., Ltd. and in 1931 The Wing On Bank Ltd.

In 1917, it was decided to establish a branch in Shanghai with a paid up capital of $2,500,000 which was increased to $5,000,000 in 1927 by the capitalising of reserves. By 1931, this was again increas- ed to $10,000,000 by the same means with a reserve residue of $1,300,000. In 1920, the Shanghai enterprise branched out with The Wing On Manufacturing Textile Co., Ltd. with a capital of $3,000,000 which by 1931 was increased to $12,000,000, also by capitalising the reserves.

The vault door.

acquired properties in various parts of Hong Kong and Kowloon. The modern- isation of these properties is part of a long term development policy of which the Wing On Life Building is the forerun- ner, and a programme has been laid down covering at least the next 10 years, which will involve the expenditure of many millions of dollars.

ing the 25th anniversary of The Wing On Co., Ltd. in Hong Kong, it was stated that the total paid-up capital of the com- bined "Wing On's" exceeded $30,000,000, with more than 16,000 employees on the payrolls. Judging from its previous rate of expansion, one can well imagine what the total assets are today. The romantic part of the whole story is that this growth and development took place during the lifetime of the two brothers who first The next step in this building program- came from Sydney, Australia, to Hong me will probably be the erection of a Kong in 1907. They are Mr. James multi-storeyed office block for The Wing Gocklock, who died in California just a On Co., Ltd. on Nathan Road in Kowloon, few days ago, and Mr. Philip Gockchin. in which a very modern department store who is still very actively engaged in the will be establisher, and a branch of The affairs of the various companies.

Wing On Bank Ltd. will be included. When this is completed, the former Wing Throughout the intervening years, the On Bank premises on Des Voeux Road faith and confidence of the Directors in will be demolished and another modern the future of Hong Kong has never multi-storeyed office block will be built in wavered, and as opportunity arose they its stead.

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