Paris, July 6. The report of the Senatorial Committee with regard to the Banque. Industrielle de Chine, signed by M. Guillaume Poulle, declares that the Directors of the Bank were imprudent in granting almost unlimited credits where such confidence was not justified.
They had attracted depositors from the Far East by allowing 2 very high rate of interest an thought to compensate themselves by involving the Bank in long-term credit operations of considerable risk. Moreover, hey had tolerated large uncovered' d personal liabilities among the Dire: P tors which pointed to privat speculation on their part. Dealing with the inefficiency of the assistance afforded to the Bank, the report reco that what absorbed the large sum after the depositors had been paid off was the payment of fresh advances to different debtors, by yh, in Paris alone, debit accounts were increased by 72,000,000 francs.
Writing in the "Revue des Deux Mendes' M. D?Areais, who accompanied Marshal Joffre to the Far East, remarks that wherever the Marshal came in contact with financial, commercial and industrial circles, whether French, Chinese or foreign, he found the unanimous opinion that the Banque must be refloated. M. D'Arcais points out that it is absurd to speak of rivalry in the domain of exchange deposits and advances, ete., which are common to all banks. French Ind China, Siam and the British and Dutch possessions in the Far East are developing with incredible rapidity and the volume of business is increasing sq that everyone can prosper without jnjuving his neigh-hour. The reason for the Banque Tndustrielle crisis hes inthe fact that the Paris directors lost sight of the which the principles Banque was fo tinded. The deposits and profits harvested i from Singapore to Yokohama were immobile ed in purely home affairs in which they were swallowed up or com-
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