Nanking, Aug. 2
By virtue of a resolution adopted fat the 6th regular meeting of the National Government Council, a [Mandate was issued by the National Government yesterday officially promulgating the law governing [the tax on the net profit of banks, tion of the tax by the Ministry of Finance semi-annually on banks das "Limited share com-at rates ranging from 5 to 15 per cent. on the net profits, the light of this provision, it is believed that the new Law ' will be Japplicable only to modern banks, jas most of the old-style native iks are organized on. partner-"proprietorship"—basis with the partners or proprietors bearing unlimited liability. Government banks, according to the Law are to be exempt from the Tax—Kuo Min.
Text read from the printed page and cleaned; old type leaves the occasional error.