Chinese banks in Shanghai began clearing up the year's accounts yesterday and will begin their three-day annual settlement holiday on the New Year's Day. Chinese bankers and their assistants will work hard in the next few days. The counting interest on deposits was concluded yesterday and interests of other departments will be accounted for up to December 25, Information obtained from banking circles indicates that, although Chi-Jnese banks have suffered losses as a result of the hostilities, the loses have been made good by large profits they have realized during the past year taking the advantage of the increased population of the city. No closure of any Chinese bank is expected, it is stated.
The foundation of the legal tender notes is reported to be frm, but the United Press of China, an organ of the ow Nanking reglue, reports that in May of 1939 the "Provisional Government" in Peiping will stop the circulation of Chinese government notes in the North, 'A Chinese evening report stated yesterday that the Ministry of Finance "I am especially glad to be at this {tunetion today which has as one of important features the presentation jot the David Brand Memorial Scholar. ship. All who knew David Brand had 'a great affection for him at great admiration for his character, tasked myself what was the principle feature of David Brand's character. The answer that at once suggested itself was "Patriotism." David Brand strongly imbued with this virtue, }By patriotism 1 do not mean the [blatant exaltation of national spirit to the detriment of all others which is prevalent in some countries today but Jo calm pride in the achievements of the British Empire in the past and full confidence that it will continue the future to live up to its traditions and give the benet of eivilization in its highest sense to all those for whom it was responsible "I exhort you to be proud of your Jcountry; be confident in its fulure and make up your minds so to rule your Jown lives that your country would be proud of you."
Mr. Massey concluded by wishing the scholars a happy Christmas and pleasant holidays. wilt soon call a meeting of banker isos plans for devetotng the south-west." The meeting will be eld in Kunming' and many Chinese bankers in Hongkong and' Shanghai! fare said to be going.
Text read from the printed page and cleaned; old type leaves the occasional error.