To the Editor of the "Norra-Caisa Datty News."
Sin,—Sinee July 26 last there have appeared in the local newspapers several Reuter telegrams cabled out from both Paris and London in connexion with and aiter the special extraordinary meeting of shareholders of the Banque Industrielle de Chine which was held in Paris, on July We have been advised right along and ever since the local branch of the Bank closed its doors that official statements would be made immediately after the shareholders' meeting" in Paris. We have been given to understand that the local manager of the Bank here would make a public announcement after exact and confirmed reports had been received from the head office at Paris after the shareholders' meeting, and we were further given to understand that satisfactory arrangements would in all probability be made for the repayment to depositors of their hard-earned money which they entrusted to this bank.
Such officio] statements have not as yet been made in accordance with former promises by the local manager of the bank as far as 1 am aware. No announcement has been made by him as to when the opening of the bank will dake place again nor as regards arrangements made ter the repaymcat to depositors of their hard-earned money. Under the circumstances it is rather doubtful whether we can accept Reuter's telegrams as official or depend upon them.
I am very much interested in the future standing of this bank and have gone to the trouble of interviewing many people who are de positors and many of whom have practically their life-savings in this bank. All of these people seem to be under the same impression, te., that repayment will be made by the bank to depositors in full up to 100 per cent. of their claims in cash but payable in instalments covering a stretch of six months from the present time. They base their belief on the reports which
Text read from the printed page and cleaned; old type leaves the occasional error.