FRENCH BANK FAILURE
BOXER INDEMNITY TO BE USED.
(UMUD PSISS ASSOCIATION,—COPYRIGHT.)
(AtITHAUA* - MIW lIALAKD CAlll AIIOCIATIOK.)
(Received December 21, 9.30 a.m.)
PARIS, 20th December.
Advices from ±>ekin state that the Chinese Government has made an agreement with the French Minister by which the Boxer indemnity will be used to meet the losses of the Industrial Bank of China. [At the end of J.une the Industrial Bank of China suspended payment. The bank was established in Paris in 1913 for the purpose of developing French' trade with China and the Far East. The failure created a great sensation in France, because it practically coincided with the re-opening in China of the activities of the great German Asiatic Bank, and because other French banks were likely to be dragged down in the amash. An agitation for the salvage of the Industrial Bank beganj and at once aroused a violent political, storm, reminiscent of the Panama and Dreyfus scandals.]
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Evening Post, Volume CII, Issue 149, 21 December 1921, Page 7
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156FRENCH BANK FAILURE Evening Post, Volume CII, Issue 149, 21 December 1921, Page 7
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