The Archive · 1926

Chinese Funds and Foreign Banks

Failure of Chinese to Obtain Deposits for R. A. Bank

Peking, Nov. 1.

According to semi-official reports, the Chinese bankers' campaign to secure the custody of the salt funds formerly bendied by the Russo-Asiatic Bank, has been unsuccessful, as it is understood that the Cabinet has agreed thet the funds in the future will be divided among the! remaining three foreign custodian banks, namely, the Hongkong and Shanghai Bank, the Banque de Vindo-Chine and the Yokohama, Specie Bank.

The Hongkong and Shengh Bank for some time past has been receiving the Russo-Asiatic Bank's! share of the salt funds, but this merely a suspense arrangement, made in view of the fact that it at the bank in Tientsin and which ere the only two yhere the funds at present Jare being received—Reuter.

Text read from the printed page and cleaned; old type leaves the occasional error.

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