London, July 13.
As a result of the application of the Banque Industrielle de Chine in Paris for a '"reglement transactionnel" under the French law of July 2, 1919, and the consequent suspension of payment by the London branch, a petition has been presented for the winding-up_ of the London branch and an application will be made for the appointment of a provisional liquidator.
It is officially stated that these steps are being taken solely as a precautionary measure to protect and preserve the assets for the general body of creditors.
It is confidently hoped that, as a result of the negotiations now being conducted in Paris under the leadership of the French Govern ment, arrangements will be made which will entirely satisfy the creditors and that liquidation proceedings will be stayed.—Reuter.
A Mererine or SHaReHOLDER
Peking, July 16.
Mr. Chen Lu, Chinese Minister at Paris, has telegraphed to the Government that a meeting of shareholders of the Banque Industrielle de Chine will be held in Paris on the 25th instant. Mr. Lu Chun, Consul-General at Paris, has been instructed by Mr. Chen Lu to attend the meeting as representative of Chinese shareholders in the Bank.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.