To the Editor of the "NortH-Cmwa Dany News"
Sm;—On June 30,1929, a report was issued by the Liquidators of the "Russo-Asiatic Bank in Liquidation, China Group.'
This group comprises the following offices: Shanghai, Peking, Tientsin, Hankow and Chefoo.
Creditors claims dmounted to Sh. Tls. 6,100,000.00 Dividend paid to June 30, Sh. Tis: 3,400,000.00
Claims unpaid on July 1, Cash in hand on Jüly 1, 1909 Sh. Tis: 2,700,000.00 1909 Sh. Tis: 226,000.00 Since the issue of the report a further dividend' was paid in September 1929. The dividend paid to this date (16/3/38) amounts to 55 per cent. of the claims, and to 60 peri; cent. for claims smaller than $2,000.00.
On page No. 11 the Liquidators, under the heading "Future Prospects," mention various amounts which they are trying to realize. That was eight years ago; nothing, of course, came out of it, although, 5 I am sure, everything humanly possible has been done, but item (d)
"Bank premises at Peking" has at last been realized and the proceeds of the sale deposited with some Bank. It is about a lakh of dollars which, plus whatever cash is on hand, should now be distributed to the Bank's creditors as a further dividend.
Let us hope that something else may turn up later, but in the meantime let us take what is due us from ihe proceeds of the above premises. Why this unreasonable delay?
Last Hope.
Shanghai, Mar. 16.
Text read from the printed page and cleaned; old type leaves the occasional error.