Japanese-Financed Bank to Start on March 1
Peiping, Feb. 12 The new Federal Reserve Bank been formally inaugurated and will open for business on March 1 with Mr. Wang Keh-min, the most prominent member of the "Provisional Government," as Governor.
Mr. Wang announced to-day half of the "Provisional Government share of the Bank's capital had been paid from a loan of $12,500,000 negotiated with the Bank of Chosen, the Japan Industrial Development Bank and the Yokohama Specie Bank.
Eight local banks, including the branches of the three Central Government banks, must now provide their share of the capital totalling 000,000.
Text read from the printed page and cleaned; old type leaves the occasional error.