Yet another Chinese bank, formed to be run on modern lines, and called the Chinese Merchants' Bank, was formally opened to business on January 27. Its offices are situated at No. B, 41-44 Nanking Road. It has the backing of the wealthy and influential classes in Shanghai, as on its opening day, deposits, both current and fixed, amounting to over Ts. 2,200,000 were received from its clientele. Mr. Y. S. Tung, who has gained) "considerable experience in modern banking business by his former connexion with the International Banking Corporation and the Yokohania Specie. Bank at Hankow and also with two of the foreign banks here, has accepted the managership of this bank. Its Board of Directors is composed of well-known men, namely, Chang Hu, Yao Wen-fu Hsu Shen-ju, Cheng 'Tan-fu, Yang She-yin, Wang Han-chi, Pao Langsen, Li Chi-hou, Han' Shih-chang and Pan Ming-sen.
Among a large number of people who made congratulatory. calls at the Bank were Mr. Yang Tcheng, Mr. C. P. Yin, Mr. Chu Pao-san, Mr Sung Han-chang. and Mr. Kinj Pangping Tuchan Li Shun and Civil Governor Chi Yao-lin both sent telegraphic messages wishing the Bank every success.
Text read from the printed page and cleaned; old type leaves the occasional error.