BIG BANK SMASH
OLD-ESTABLISHED CHINESE INSTITUTION. GOVERNMENT A LARGE SHAREHOLDER. Pekin, September 26. The Russo-Asiatic Bank, one of the oldest banking institutions in China, is going into voluntary liquidation and will remain closed pending the appointment of a receiver. The management announced to-day that no official statement would be made but notes are being refused in all parts of Shanghai and the Chinese City, causing panic among local note-holders. The bank was brought into existence by agreement between the Chinese and Russian Governments during the Romanoff regime but its affairs became involved after the overthrow of the Imperial Russian rulers. It was the official institution of the Chinese Government which was one of the largest subscribers.—A. & N.Z.
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Bibliographic details
Southland Times, Issue 19986, 28 September 1926, Page 7
Word Count
117BIG BANK SMASH Southland Times, Issue 19986, 28 September 1926, Page 7
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