Interesting Scheme to Promote Native Industry Members of the Organization Committee of the Cotton Trust Bank of Shanghai were hosts at a tiffin given at the Yih Tze Hsiang Restaurant on Saturday to representatives of the Chinese and foreign press to celebrate the inauguration of the bank. After eulogizing the value of the press, Mr. Zee Pin-we, who presided, in an address, said in part:—
"The cotton yarn business of China has of late assumed great dimensions. Here and fore new mills have started and spindles of existing mills increased. This marked growth of the cotton industry no doubt arises from the constant increase in the demand for cotton products—a demand which knows no limit and nothing but the decline of civilization can curb its progress.
"There is, however, a long-felt want in this important trade, and, that is, a bank devoted to the study of its needs. With the object of supplying this want, my colleagues, nearly all of whom are members of the cotton yarn trade, and I have joined hands in the organization of this Cotton Trust Bank of Shanghai. In addition to the usual banking functions which it will undertake, the chief feature of its business will be, in the first place, to promote the cotton yarn trade, and secondly to develop other industries.
Text read from the printed page and cleaned; old type leaves the occasional error.