DDPFINITE signs of recovery in economic conditions in China and the maintenance of the stability of national currency in spite of political uncertainties and uneasiness were emphasized in the report of the Joint Reserve Board of the Shanghai Bankers Association and of its Bankers Acceptance House for the year ended December '31, 1936, delivered by Mr. Perey Chu, Manager, at the annual meeting held at the Shanghai Bankers Association Building, 59 Hongkong Road on March 10 at which Mr. Li Ming, Chairman, presided.
Mr. Chu reported that the heavy increase in the volume of bank clearings provided convincing evidence of the upward trend of business, and member banks, following a policy of cautious conservatism, made remarkable progress during the year consolidate ing their strength and increasing the liquidity of reserves.
He further reported with satisfaction that all measures undertaken by the Board since its inauguration five years ago, which included the introduction of a Joint Reserve System and subsequently the establishment of a Clearing House had been completely and effectively put into operation with the ce-operation of member banks. At the conclusion of the meeting, the following were re-elected members of the Executive Committee for the year 1937—38: Mr. Li Ming, Chairman; Mr. Tsu-yee Pei, Mr.
Tong, Mr ¥. M, Chien and Mr. C. M. Shu, Members of Standing Committee; Mr. KP. Chen, Mr. F. S. Yih,
Text read from the printed page and cleaned; old type leaves the occasional error.