Easily Met: Result of Over" selling Hands As the result of rumours of ims pending fighting: in Kiangsi between the Wuhan and Nanking forces and statements made by exchange speculators who have been overselling bonds, a run took place March 5 on the Centeal Bank of China on The Bund.
The speculators, we are told, have oversold to such an extent that they have been thrown into tin extremely dangerous position, with the result that they have started rumours push down prices. These naturally affected the Central Bank of Ching, the state bank, and, accordingly, there wes a ran when the Central Bank opened its doors at 9 am, yestenay. This continued for "an hour and. stopped between 10 and 11 am. When the bank opened ita doors assam in the afternoon, there was another rush, In order avoid overerowdingg, an announce ment was issued to. the effect that the notes issued would be exchanged. up tu 9 pan, yesterday.
Apparently, all those concerned in the rush were small note helders for only between $50,000 and $00,090 were exchanged in the morning and even smaller amount in the after= in the course of an interview with a representative of the "North.
Dolly News." Mtr. Jian Chen, the sreneral manager, stated that had nothing to fear or even to worry about because they had 100 per con, reserves. Nor, he. said was it necessary to get assistance from other banks. although Ube chairman of the Native Bankers "Association had kindly offered whatever assist= ance was necessary for the cone venience of the note-holders, "Our aim is for financial benefit and not for military or political pur. poses," asserted Ins. Chen, "and. it is organized according to a most gild system, there being " Board of Directors and a Board of Super: visors, We have never had Sorrow money since we opened this bank and, on the other handy we have deposited lar sums of money with other institutions. Our Board of Supervisors consists of leading merchants and bankers, and every month an examination of reserves ix held, Mr, Li Ming is chairman of this Board and the other supervisors are Mes 1, Wang, Tauyee Pei C, Zing, Vu Ya-ching, K. 1. Lin and C. M. Hau, According to thole examination of our reserves for February, the total note issue circulation, including subsidiary coin. notes, amounted to 816,175,772 and reserves were at least '60 ut and securities met the romainde!
"It ix a common thing to ko Mr. Chen concluded, "and, this case, it is fortunate for Ht vill prove our stability and our credit will be far better than ever before."
Little Further Trouble Expected On March 6, the Central Bank opened its doors and at once a Jarge crowd poured in, demanding cash for notes which many of the smaller money exchanges had Aieclined to change for ther. Plenty fof silver was available and all hands fat once went to work handing over bright Sun Yat-sen silver lars for the "Sun Yat-sen notes."
a short time, the crowd ha: dwindled to a mere handful and the iver dollars on the desks wore more than sulicjent. to meet requirements, Confidence ix being restored and expected that there will soon end of the trouble.
Text read from the printed page and cleaned; old type leaves the occasional error.