Page:Twentieth Century Impressions of Hongkong, Shanghai, and other Treaty Ports of China.djvu/127

Rh Bombay, Calcutta, Colombo, Foochow, Hamburg, Hankow, Kobe, London, Lyons, Manila, Nagasaki, New York, Peking, Penang, Rangoon, Saigon, San Francisco, Shanghai, Singapore, Sourabaya, Tientsin, Yloilo, and Yokohama.

The London and County Banking Company, Ltd., act as the London bankers of the Corporation.

The bank premises occupy one of the best business sites in the Colony. The main entrance is in Queen’s Road, Central, to which the bank has an imposing frontage, whilst the back of the premises opens on Des Voeux Road. The banking hall is one of the finest in existence, with desks and counters on either side, and covered by a spacious dome of pleasing proportions.

The Corporation also conducts the business of the Hongkong Savings Bank.



BANQUE DE L’INDO CHINE.—The Banque de l’Indo Chine, which represents French interests in the Colony of Hongkong and throughout the Far East generally, was established in the Far East in 1875, by special charter from the French Government, with a capital of Fr36,000,000 and a reserve fund of Fr24,000,000. The Hongkong agency was opened in 1896, and took over the financial interests of the Comptoir Nationale d’Escompte de Paris. In 1900 an agency was also started in the neighbouring Chinese city of Canton. The Hongkong branch is managed by Mr. L. Berindoague, and the Canton agency by Mr. G. Garnier. There are other branches and agencies of the bank at Saigon, Haiphong, Hanoi, Tourane, Pnom-Penh, Nouméa, Shanghai, Hankeau, Bangkok, Pondicherry, Battanbang, Peking, Tientsin, Papéete, and Singapore.



THE YOKOHAMA SPECIE BANK, LIMITED.—When Japan forsook her policy of isolation and allowed her subjects to have free intercourse with the outside world, a tremendous impetus was naturally given to the trade and commerce of the country. Great business corporations sprang into being, and the rapid advance made, from the commercial and industrial point of view, by the people of the Empire has been a cause of astonishment to all nations. There are many financial houses now conducting operations upon an extensive scale, and one of the most important of these is the Yokohama Specie Bank (Yokohama Shokin Ginkō). Founded in 1880 with an authorised capital of Y3,000,000, it was entrusted with the management of several million yen of the Treasury reserve, and thus had an ample capital at its disposal for discounting foreign bills of exchange. In 1889, however, this support was withdrawn, and in place of it, the Bank of Japan was ordered to re-discount foreign bills of exchange on demand of the Specie Bank, to an amount not exceeding Y20,000,000, at the rate of 2 per cent. per annum. In 1887, when the special ordinance respecting the Specie Bank was promulgated, the capital of the bank was raised to Y6,000,000. The consequent extension of business necessitated in the same year, a further increase of capital to Y12,000,000, and in 1899 the capital was again doubled. The business carried on by the bank consists of foreign exchange; inland exchange; loans; deposit of money and custody of articles of value; discount and collection of bills of exchange; promissory

notes and other cheques; and exchange of coins. The bank has authority to buy and sell public bonds, gold and silver bullion, and foreign coins. It is also entrusted with matters relating to foreign loans and with the management of public moneys for international account. The head office is at Yokohama, and there are branches and agencies in Tokio, Kobe, Osaka, Nagasaki, London, Lyons, New York, San Francisco, Honolulu, Bombay, Hankow, Chefoo, Tientsin, Peking, Newchwang, Dalny, Port Arthur, Antung, Lioyang, Mukden, Tieling, Chang-Chung, Hongkong, and Shanghai. The London office is the agency of the Bank of Japan. At the fifty-fifth half-yearly ordinary general meeting held in Yokohama in September, 1907, it was reported that the paid-up capital amounted to Y24,000,000, and the reserve to Y15,050,000. The gross profit for the half-year was Y12,171,077, from which Y9,266,018 were deducted for current expenses, interest, &c., leaving a balance of Y2,905,058 for appropriation. An additional Y500,000 was added to the reserve fund, a dividend of 12 per cent. was declared, and a balance of Y1,055,058 was carried forward to the credit of the next account. The Hongkong branch of the bank is situated in Prince’s Buildings, and is managed by Mr. Takeo Takamichi.



THE NETHERLANDS TRADING SOCIETY.—The Netherlands Trading Society (Nederlandsche Handel-Maatschappij), which has had a branch at Singapore for about half a