Peking, July 5.
At the recent meeting of the shareholders of the Bank of China a resolution was passed calling for a thorough reorganization of the bank and a drastic reduction in expenses. Acting on this mandate the authorities have recently made a* very extensive reduction of the staff, over 150 members of the head office alone, without including the staff of other branches, having been discharged.
In spite of the generous terms granted, a good deal of discontent has been caused, according to a statement issued by the bank, and as a result certain of the disgruntled members, no doubt acting in a spirit of spite, have caused to be circulated in the various Chinese newspapers in Peking incorrect and misleading statements as to the business done by the Bank of China during last year. The authorities of the bank are doing everything in their power so far as the Chinese press is concerned and in the near future a circular letter will be issued by the Bankers' Association requesting the press in the execution of its duty to be guided by public interests which are so greatly wrapped up in the welfare of the bank, and not to permit' its members to be made use of' for the furthering of their private ends.
The foreign press, meanwhile, is notified that any information of public interest which may be desired will be readily furnished on application to the bank.—Reuter, Tue strike of boatbuilders in Pootung which started on July 4 has been settled, the employers having granted a 7 cent per day increase.
Text read from the printed page and cleaned; old type leaves the occasional error.