Paris, July 26.
At yesterday's meeting of shareholders of the Banque Industrielle de Chine, Senator Berthelot, who presided, was supported by Mr. Wong Tseng-tse, representing the Chinese Govermucut, and Count de Feral, representing the Peking Syndicate.
The newspapers, commenting on the meeting, consider the situation as now most hopeful. Hardly any doubt is felt as to the bank's ability to weather the crisis and to resume business soon. The sensible and far-seeing: attitude adopted by the Chinese Government in this matter is most favourably commented upon.—Reuter.
Brans ror Payment or Cultus, London, July 29.
Details are now available of the preliminary proposals for dealing with the creditors of che Banque Industrielle de Chine.
It is proposed thet payment by priority should be made in cash of all claims having a purely banking origin, as, for example, cheques, bills, ete., within six months of the granting of the "Réglement transjactionnel," but all such creditors will have the option of exchanging their total claims into preference shares..
The arrangement provides for the repayment by instalments of _deposits and all other forms of claims, these latter creditors being also offered the option of exchanging into preference shares. The bank vill reserve the right of repaying in anticipation all debts not converted into preference shares.
The President of the Tribunal of Commerce will have the right of decision, in the event of any difficulty in determining the nature of a claim.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.