The Public Warned of Trust Companies: Chinese Banks and Foreign Bankers' Association: Signs of Danger in the Country Startling incidents have not been hai, is represented to have invited lacking during the last two or three! the Chinese banks of this port to weeks to furnish the Chinese Press} join the International Banking As-with more than enough subjects to; sociation for the purpose of secur-fill its comment columns. The pro-ling mutual help and cooperation tracted strike by school-masters at, The spirit in which this invitation Peking, the impending renewal of was made is much appreciated, and the Anglo-Japanese Alliance, the! there are not a few among. the mutinous outbreaks by soldiers at; Chinese bankers, both doing busi-Ichang and Wuchang, Chang Tso-! ness on old and modern lines, who lin's indifference to the spreading are giving this subject their earnest. of the Mongolian revolt, the dis-! consideration. It is fervently missal of Tuchun Chen Shu-fan of hoped, says the "Shunpao," that Shensi, the sponsoring of the pro-ithe wish for genuine cooperation vincial constitutional movement by} may be carried into effect.
Tuchun Lu Yung-hsiang of Ché-] Attention is, however, drawn to kiang, and the resumption of! the attitude of the foreign banks. hostilities between Kuangtung and, When these have to receive an Kuangsi ave a few of the burning order from a native bank, they ec: questions in which the Chinese peo- quire the bank to send the amount ple have lately been manifesting a) in cash, but even when this is done great deal of interest. they insist on the messenger wai Locally, the Far Eastern Olympic, ing until another Chinese bank Games, the murder of two shopmen, comes to cash a bill. This method the proposed licensing of rice shops of diverting payment from one bank' in the Settlement, the litigation be-! to another is often repeated several tween directors and shareholders, times, andj the messenger made to of the China Merchants' S. N. Co.,} wait till diosing time before the and the strikes by carpenters. transaction can be completed. and The journal remarks that how-artisans have claimed the attention) ever trivial this matter may seem of the Chinese Press. to the general public, it clearly proves that foreign banks hold the Rise or Trust Companies.
Chinese banks in scant regard, The "Shunpao" has an article while all the Chinese banks have dealing with trust companies. been enduring this slight without After explaining their functions in murmur. Unless such a pernicious foreign countries, it says habit be radically reformed, any-Recently, numerous so-called trust thing like mutual help and genuine companies' have appeared among cooperation is out of the question. us with a. sudden sprout.
The The foreign banks, by merely ad-business they propose to do em-mitting the Chinese banks into the braces too wide a field, not only in-Foreign Bamking Association as a cluding such large operations as a matter of form, will not confer any bank or an insurance company real benefit upon the chinese baukwould undertake, but at the same ing business; while the Chinese time such petty dealings as would banks would gain no great glory by only befit a broker to handle. They merely joining such an association propose even to purchase and disin appearance. pose of cifrios and pric-a-prac, or to buy and sell all kinds of things for Sioxs or UpHeavat. gifts. Rather too farcical to be The "Sinwanpao'' devotes an worth our notice. article to the subject of signs of But one thing there is that should disturbance in the country. Tt first have the careful consideration.of quotes the change of Tuchun in every one. All these companies Shensi and the independence pro-have not yet been established, nor gramme of Lu Yung-hsiang in any of their shares issued. Yet: Chekiang, and then points to the such shares have rapidly soared in weakness of Wang Chan-yuan in price; in some cases, already ex-Hupeh which the recent mutiny of ceeding twice their original value. his soldiers has exposed. It feels It is only commercial logic that so the keenest apprehension for the long as the profit and loss of a peace and security of the Yangtze business remains an unknown
Text read from the printed page and cleaned; old type leaves the occasional error.