The interest of Chinese bankers and financiers is, for the time being, concentrated on an order lasuied by th Minister of Finance, calling for the prompt re-opening of local native banks which have closed their doors recently, some on account of the de. pression, others because their ma ers have absconded. The genet consensus of opinion is that, at the present time, attempts to force these banks to resume. business will be found exceptionally dificult, especial-tu the ease of absconding officials, sums of money entrusted to their banks 'The fact that the Minister of! Finance is keeping in touch with the matter, however, is greatly appreciated, Local Chinese bankers pointing cout' that past regimes always have taken less than a lukewarm Interest in the affairs of the Shanghai financial market.
Tt is understood that petitions have been addressed to the Nanking Government, requesting that severe men sures should be taken to deal with conding bankers, in order that the Shanghai "Anancial' market may be properly protected in future, Chinese Ananclers consider that, in such cases, persons arrested after absconding. Should be held In custody until they restore the money which they have embezzled and that the Jaw courts should refuse them ball whenever they apply for dt. The same, they say, should apply to others alleged to have conspired in the embezzlement, Meanwhile, considerable interest is centred on ihe case of the outport branch manager of a local bank who alleged to have absconded with $220,000. This case in shortly to be heard in the Chinese law courts, with the local authorities prosecuting. The public prosecution generally is applauded by the local Chinese banking fraternity, who consider that the judgment of the court in the case will establish an important precedent.
Text read from the printed page and cleaned; old type leaves the occasional error.