The Archive · 1938

Special Reserve Fund

Hankow, Jan. 8 Two measures for the disposal of profits earned by banks during 1937 are announced by the Ministry of Finance in an order to the Shanghai Bankers' Association and the Shanghai Native Bankers' Guild, as follows:

1. Those banks which have branches situated in the war zone should set aside their entire net profits for the year 1937 to form a Special Reserve fund, which will be disposed of after the political situation becomes normal.

2. Those banks which have no branches. in the war zone may dispose of their profits as customary. However, they are urged to set aside a portion of their profits, as far as possible, as a Special Reserve fund, which may be drawn upon in case of necessity—Kuo Min.

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

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