The Archive · 1935

Bank Runs in Canton Yet

Canton, Sept. 5.

The nervousness created by the closure of the Bank of Canton still prevails in local financial circles, but {here have ben no runs whatever any bank here.

Local bankers are of the opinion thatthe present nervousness is intable, owing to the closure of the Bank of Canton, but do not believe that the crisis: will last very Jong.

Meanwhile, the local branch of the Bank of anton remains closed.

'The entire staff of the local branch ave disappeared. Police are keep-tog guard' over the bank premises eeuploy Petition Filed Hongkong, Sept. 5.

The Bank of Canton, which yester-closed. its doors and announced a pending reorganization, to-day Med petition in bankruptey.

Mr, J. H. Seth, a chartered countant, was appointed provisional Higuidator of the institution, Tu. its. petition, the bank stated that large amounts of its assets wer bound up and not convertible imm" Giately into liquid assets, The ban) ripley hearing wil be held at the end of October.—United Press.

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

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