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HONGKONG BANK REPORT.

When allowance is made for the extent to which the sterling figures have been affected by the depreciation in Chinese currency, the annual report of the Hongkong and Shanghai Banking Corporation must be regarded as entirely satisfactory. Nearly all the figures in the balance-sheet, expressed in terms of Chinese currency, show an increase both in turnover and in profits, but the exchange has had to be calculated at the rate of is. 71d. as compared with 2s. Oid. for the previous year, and this has resulted in a small diminution in profit and a decline in the sterling figures of the balance-sheet. The, usual dividend was maintained, but there was a slight reduction in the bonus, due entirely to the exchange position.

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