Counsel—Do you think the presence of thie bank, as now constituted, on Shameen for the purpose of business would be open to objection?
Witness—Yes, I uve reason to. think s0, because the nature of the bank's business differs from that of other banks, such as the Hongkong and Shanghai Bank, the Chartered Bank, the International Bank, of any other purely foreign bank. They do a purely Chinese business and their clients are rely Chinese, and if f am correctly formed they are associated with the opium trade.
Mr. Potter objected to this state-went, observing that the Bank was ran on entirely the same lines as the Hongkong Bank.
Witness repeated, that he had every reason to believe his information was correct. lis Lordship—With regard to the attitude of the Chinese towards the nationality of such individuals as you have mentioned, do you refer to the Peking Government or the Canton Government?
Witness—The Canton Government. In the correspondence I have had with them they say that is the law of China.
Mr. W. Stark Toller, Vice-consul in charge of the Land Office at) Shanghai, gave evidence as to the registration of. the plaintiff Bank, saying that of the 10 directors named, three were shown as. being. British, while the nationality of the other seven wax"not mentioned, With regard to land in the International Settlement registered in the Bank's name, witness pointed out that at present land transfers jeould be made at the Consulate to persons of any nationality.
Mr. Potter reminded his Lordship" that it had never been challenged that at the time this property in Shameen was purchased, eight of the 10 directors were Hongkong Chinese.
Mr. Tee-fong, managing director of the Bank, was re-called and questioned with regard to membership of the Chinese Bankers' Association, Me produced minutes of the Association's meet ings showing that the rule requiring that the capital of member banks must be entirely Chinese ex pital has been amended to admit foreign capital. answer to Mr, Wilkingon, witness anid that the Bank of East Asia had applied for membership of the Foreign Bankers' Association and admission had been refused.
He wax unable to sy why the application wax refused, Counsel proceeded with their losing argument on points of law, and the hearing war again adjourned.
Text read from the printed page and cleaned; old type leaves the occasional error.