The Archive · 1935

BANKING CRISIS IN THE SOUTH Bank of Canton Closes Its Doors: Run On N.C. &

Bank: Depression and American Policy Blamed

Hongkong, Sept. 4.

Dismay was caused in Chinese financial circles this morning when the Bank of Canton, which has its head office in Hongkong, failed to open its doors. A notice. posted on the front door stated:—"This bank is Yemporarily closed until further notice, pending reorganization."

The closure of the bank caused a Jgeneral lack of confidence, which was reflected in a run on the National Commercial & Savings Bank and other Chinese institutions, as panic-stricken "depositors rushed to with-

Text read from the printed page and cleaned; old type leaves the occasional error.

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