Branches Being Opened to Extend Trade From Oun Own Comeesronoex?
Hongkong, Oct. 31.
The China State Bank' Lid. and the Chung "Nan Bank, "both of University of! Shanghai, will shortly open branch offices in Hongkong in order to faci~ tate their business in South China, It is said that the Bank of Communications may reopen its" branch The extension of Shanghai banking interests to Hongkong is due to the proximity of this colony to mainland plus the fact that this port is an access to ocean-going steamers from all parts of the world and security exists. In spite of gen ral unfavourable trade returns, the banking field here is encouraging.
"The general trade situation here is not very bright, however, and a result is that empty flats are numerous. Most houses have three or four storeys, and sometimes only one Moor is occupied. Landlords are preparing a petition to the Government, praying that payment of rates stiould be assessed by occupied flats and not including empty ones. At present, landlord has a tenant on one floor only. It 4s estimated that the rent from the one floor is just enough to cover the rates for the whole house.
The hardships suffered by the landlords are genuine, and it is possible that a basis of collecting rates which will give them some relief will be allowed. The Hongkong Government has already lowered water rates by twenty per cent, There 1s an agitation for the further reduction of water rates. At present, however, if payment is made before the 26th day of the month, there is rebate of 15 per cent, which some believe to be sufficient.
Eeonomle Commission's Inquiry Inthe meantime, the Economic Commission formed by the authori ties to investigate how to bring back Prosperity here has completed its Work and findings. The public are invited to submit their views on how to improve the trade situation Hongkong, and several memoranda have been submitted by commercial bodies to the Economic Commission, which is now drafting its report to be presented to the Governor-in-learned that the members of the Commission do not favour protective wall in Hongkong. The main problem before' the Commission is how to Jehange the Colony from a transit port to a producing centre. The currency question also figures prominently in the common report.
Members of the Commission are Jatso in favour of having a Chinese [Custom House here, where all export, and import "duties for goods from and to South China can paid in Hongkong. It is felt that This is a matter to be arranged between the Colonial authorities here and the National Government in Nanking. Owing to the strong op-
For trade revival in this Colony, Chinese merchants believe they [should have concrete plans for cooperation with foreign merchants, There should be a mutual under
Text read from the printed page and cleaned; old type leaves the occasional error.