Sinister Rumours Arising from a Peking Bank Failure Peking, June 12.
One of the many awkward financial questions requiring the attention of the new Government will be the case' brought against the Governor, Vice-Governor, local Manager and Chief Accountant of the Vu Feng Commercial Bank by representatives of the late Financial Commission entrusted with the famine relief funds obtained from the $4,000,000 Customs Surtax Loan; and by the International Famine Relief Committee for the recovery of $94,696, due to the Sianfu Famine Relief Committee, With interest and the fine of $400 a day after three- days' grace on the remittance of a sum of $100,000.
Tt was only one day after the last $100,000, was paid over to the Vu Feng Bank that those concerned with the transfer of the money were informed that the bank had failed. After considerable trouble the Financial Commission succeed-in recovering $70,000 leaving the aforementioned balance unpaid with interest and fine.
It is alleged that a forged telegram showing the guarantee of the Sianfu branch of the bank for such transfer was presented to the Financial Commission before the last contract was made for the transfer of funds, and the circumstances, it is alleged, point to conspiracy. It is most important that this matter should be dealt with, particularly in view of the effect that otherwise would be produced on future famine relief. The matter was brought to the attention of the Chinese Government by the Diplomatic Body last month.—Renter.
Text read from the printed page and cleaned; old type leaves the occasional error.