W. H.' Trenchard Davis, and the of honour, Sir Henry Gollan. This was the first occasion that Sir Henry had been in Shanghai on Founder's Day. There were the usual speeches and toasts, "The King," "Charterhouse" and others, Mr." Preston and Sir Henry, Gollan were among the speakers. Avery enjoyable evening was spent by everyone, and the eclebration this year was voted a huge hai, and it would, therefore, pay me'to transfer my account to the Bank of Philanthropy, provided, of course, it is established on a sound basis.
In my ignorance of finance, I always understood that the interest charged by ordinary banks depondlargely on the security pledged for a loan, Recently the British Government fesued a Conversi Loan on which interest at 5 per cent. is to be paid.
If the Bank of Philanthropy is to lend money at a maximum rate of 8 per conte... docs it mean that the chits and other securities put up by the charity able-retail firms of Shanghai offer greater security for a loan than that offered by the poor, old British Government?" What will happen to™~ the Wayfoong and Mahkalee notes when the Bank of Philanthropy notes are put on the market?
I am, ete, 2834, Burdick Avenue, Oak Bay, Victoria, 'B.C,
Text read from the printed page and cleaned; old type leaves the occasional error.