Administration by Central Bank of China Nanking, Mar. 25
Measures for liquidation of savings societies which offer prizes to attract the public have been tentatively drawn up by the Ministry of Finance.
'According to these measures, the affairs of these' societies, both Chinese and foreign, will be taken over by the Trust Department of the Central Bank of China as soon as the latter formally inaugurated.
In the interests of old depositors, the Trust Department will carry on the work of the societies in accordance with their respective existing regulations, so that the old depositors may continue to make their deposis and enjoy the benefits as heretofore.
On the Trust Department taking-Jover, however, no new depositors will be admitted to any of the savings societies. In this manner, not only will the interests of the old depositors be protected, but a definite timemit set for the closure of the savings societies which are mot tolerated under the new Savings Banking Law.
Text read from the printed page and cleaned; old type leaves the occasional error.