Progress During Difficult Year in 1935 to Strong Financial Position and Bigger Profits An increase in. {otal deposits $931,474,000 of $80,427,000 over the 3934" total and $118,482,000 over the 1033. total, marked increase in the xemitlances transacted, large increase over the 1934 and 1033 totals of loans fand Investments with very greatly' increased investments in Government] Bonds, exceeding the statutory requirement, making a net profit of $1,200,957.{6 for 1935 which is an increase of more than $263,000 over '1834 and $200,500 over 1093, sum up rleny the results for the past _year ended December 31, 1995, of the Bank' fof Communications, one of China's "Big Three."
With Mr. ¥; Hou presiding and a total value of $14,509,100 in shares: represented, the following were present, Messrs, Tang Shu-ming, 'T. Soong, T. M. Hsi, Jian Chen, Chang Sht-yung, ¥. M, Chien, Hu Meng-chu Singioh Hsu, Shen Sku-yn, Li Ming, Chow Tso-ming, Chen Shun-ching, Yih Wusskao, Yang Teh-sung, Wang Tee-sing and many others.
'Mr, ¥, Hou, chairman and managing director of the Bank, reported thes facts on Saturday afternoon atthe annual general meeting of the Bank' in the Chinese Bankers' Association Yyullding. After avery, brief introduelory review on tke situation abroad, the Chairman put on record a condensed account of the various stages through which te Chinese Government accomplished lls currency reforms, particularly stressing the part played as one of the three main' government banks, of the Bank of Communications, and the special calls made in tiding' over the period of, financial stringency in Shanghal_ and elsewhere. He specially stressed the} fact that the Bank had never made any departure from ils traditionally conservative policy in placing safety above all other considerations. How materially the Bank aided in tiding the special dimeuitics of the year amd how it progressed in its avowed purpose and policy of serving commerce and Industry, can bbe sean In the careful analysis of the: operation of the Bunk, given by the Chairman, in part, as follows total deposits stood at $331,474,000 at the end of the year. This is an' Increase of $80,427,000 over 1994, and $18,482,000 over 1033. Fixed Deposits amounted to $70,200,000 representing fan Increase of $10,900,000 over the corresponding figure of 1934, and {$23,065,000 over "1933, Current Deposits "amounted to '$244,030,000 an Increase of $72,744,000 over the corresponding figure of 1994 and $85,425, 000 over 1993. Cash Orders and other posits amounted to. $11,244,000 an increase of $0,091,000 over" 1933.
In analysing the Agures by district, we find that the greatest increase was effected in the Shanghai district, the proportion being about two-thirds of the total. Other districts of excoptionally good record are Chekiang, Hongkong, Amoy, Hankow, and Chengchow. " The' Nortieastern and Tientsin districts were handicapped by local conditions, had it not been for which our total deposits would be Romitlances transacted in 1998 amounted to over $457,049,000 which was an increase of $166,007,000 over the corresponding figure of 1994, and '$240,425,000 over 1933. Drafts pur chased amounted to §203,318,000 an increase of $115,641,000 over 1924 and '$187,008,000 over 1033,
Text read from the printed page and cleaned; old type leaves the occasional error.