The failure of the bank at Shanghai has caused diplomatic complications, because foreign interests are involved. Mr. Yang Toheng has, therefore, requested the Govern. ment to impress on the bank at Peking the necessity of liquidating its affairs in Shanghai by itself as. speedily as possible, for it would be absurd to expect the Government to assume liability for the defaleations of the bank's own servant. The head office of the bank was ordered to liquidate its debts accordingly; but a petition in reply has been submitted by the bank, stating that for the failure of its Shanghai branch, the bank is of course fully prepared to bear its responsibility, but as the Government had interfered by the appointment of Chang Tung as liquidator of its affairs at Shanghai over a year ago, the bank has stood aside and is still ignorant of how matters stand as a result of this liquidator's work. Being a party interested and under suspicion, the bank humbly submits that it is quite out of the question for itself to conduct the liquidation of the affairs of its own branch which had failed. Therefore, concludes the petition, the Government is asked to order Chang Tung, the liquidator, to proceed to Shanghai to continue his investigation he has already begun in order to have this matter settled and closed.
Text read from the printed page and cleaned; old type leaves the occasional error.