- Title: HONGKONG: DEPOSITORS WITHDRAW MONEY FROM CHINESE BANK FOLLOWING TAKEOVER
- Date: 11th April 1965
- Summary: 1. LS DEPOSITORS OUTSIDE HANG SENG BANK; POLICE SET UP BARRICADE OUTSIDE (FOUR SHOTS) 0.13 2. MS POLICEMAN CHECKS IDENTITY OF WOMAN DEPOSITORIO 0.16 3. MS MORE DEPOSITORS OUTSIDE BANK 0.18 4. MS POLICEMEN ON DUTY OUTSIDE BANK 0.20 5. MS BANK OFFICIALS LET IN DEPOSITORS (THREE SHOTS) 0.26 6. CU OLD CHINESE WOMAN ENQUIRING 0.32 7. MLS CROWD OUTSIDE BANK 0.35 8. MS POLICE LET DEPOSITORS INTO BANK (PAN) CROWD OUTSIDE 0.46 9. MLS MORE CROWD OUTSIDE BANK 0.51 Initials CAR/VS/CA/YA/RBI Script is copyright Reuters Limited. All rights reserved
- Embargoed: 26th April 1965 13:00
- Keywords:
- Location: HONGKONG
- Country: Hong Kong
- Reuters ID: LVA5DSHXI3VJS5WVVHZYRHKSJENX
- Story Text: LARGE CROWDS OF HONGKONG DEPOSITORS YESTERDAY (SATURDAY), GATHERED OUTSIDE THE HANG SENG BANK AFTER IT HAD BEEN BOUGHT OVERNIGHT BY THE HONGKONG AND SHANGHAI BANKING CORPORATION. BANK OFFICIALS TOLD THEM THAT THEY COULD DRAW OUT ALL THEIR ORDINARY SAVINGS, BUT EXTRA POLICE WERE ON DUTY TO LET IN ONLY A FEW CUSTOMERS AT A TIME.
THE BANK EMPLOYED EXTRA CASHIERS TO MEET A DEMAND WHICH BEGAN THE PREVIOUS DAY (FRIDAY), AFTER RUMOURS THAT AN UNNAMED BANKER WAS BEING QUESTIONED BY POLICE. DESPITE OFFICIAL DENIALS OF THE RUMOUR, PLUS AN EARLIER ANNOUNCEMENT THAT THE HONGKONG AND SHANGHAI BANKING CORPORATION HAD TAKEN THE HANG SENG OVER AND WOULD MEET ITS COMMITMENTS, A NUMBER OF DEPOSITORS WERE ON HAND TO DEMAND THEIR MONEY BACK AS SOON AS THE MULTI-STORIED HEAD OFFICE ON THE HONGKONG WATERFRONT OPENED ITS DOORS. HOWEVER, THERE WAS NO PANIC.
THE TAKEOVER OF THE HANG SENG BANK WAS AIMED AT RESTORING CONFIDENCE IN THE CHINESE BANK.
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