Whether They Remain or Will Quit Still Unascertainable With further reference to_the intended enforcement of the Foreign Bank Law at Vladivostok, we have not yet been confirmed in our previous report that both the Yokohama Specie Bank and the Bank of Chosen have arranged to keep in business, the latter under the style of the Matsuda Bank. The term of business of the foreign banks at the Siberian port, as specified vy the Soviet Russia Financial Committee for the Far East in its notification, having expired on October 30, any foreign bank doing business there has to pay a tax amounting to 5 per cent of its capital. This tax will amount to Y. 5,000,000 for the Yokohama Specie Bank, Y.4.- 000.600 for the Bank of Chosen and $1,060,000 Mex. for the Hongkong & Shanghai Banking Corporation. In the present state of Vladivostok, business there does not positively warrant paying a tax of: such a fictitious amount, Moreover, the Soviet Russia requines, by virtue of her law, the staff of each foreign bank and firm at Vladivostok to subscribe to a sort of labour insurance and on' this account, each bank and firm will have to bear the premiums charged for the insurance upon the members of its staff.
Such being the case, the Japanese banks rather feel advised to withdraw from the field from a business point of view.
The Bank of Chosen, is, however, so peculiarly situated as to find it awkward to close its Vladivostok branch even at more or less sacrifice. Even, as to the Yokohama Specie Bank, the management, knowing how difficult it will be to reopen its branch once it has been withdrawn, seems to be in no hurry to close it up, although it appears ready to quit, in case of the heavy tax above mentioned being co!- lected.
Pending further advices from Vladivostok, we shall be kept in the dark as to whether the two iea@ing Japanese banks there have decided to remain or not.
Text read from the printed page and cleaned; old type leaves the occasional error.