The above Bank was established some time during February last, with a capital of $3,000,000 in 20,000 shares of 8150 each, of which the Government and the merchants each subscribed @ moiety.
At a meeting of shareholders held the other day at Hangchow, Mr. Hu Min-pang, Commissioner of Finance for Chekiang. made an interesting speech in which he attributed the poor result of the Bank's business solely to the preponderating power given to Government Officials by the rules and regulations. For instance, although practically the Government could not well interfere with the management, yet the foralities requiring the submission of reports to and the obtaining of sanction from the Government, ete., had retarded business and caused inconveniences to the detriment of both the Government and the sharcholders. He proposed that the red-tape clauses in the rules be amended, and that more power be given Original from
Text read from the printed page and cleaned; old type leaves the occasional error.