• Short Summary

    DESPITE THE HONGKONG GOVERNMENT'S ASSURANCE THAT IT WAS IMPORTING STERLING BANKNOTES BY AIR TO OVERCOME A SHORTAGE OF DOLLAR.

  • Description

    1.
    LS (TILT DOWN) CHINESE OWNED BANK
    4 1/2 ft

    2.
    LS QUEUES OUTSIDE BANK
    6 1/2 ft

    3.
    LS MORE QUEUES FORMING OUTSIDE (TWO SHOTS)
    10 1/2 ft

    4.
    MS MOTHER IN QUEUE FEEDING CHILD (TWO SHOTS)
    14 ft

    5.
    MS QUEUES ALONG BANK'S CORRIDOR
    16 ft

    6.
    LS (PAN) ANOTHER BANK -- LONG QUEUE OUTSIDE
    19 ft

    7.
    MS QUEUE OUTSIDE BANK
    21 ft

    8.
    MS POLICEMAN WITH LOUDHAILER REQUESTING ONLOOKERS TO DISPERSE
    23 ft

    9.
    MCU ANOTHER MOTHER WITH BABY AT THE BACK AMONG QUEUE
    28 ft

    10.
    MS PEOPLE RUSHING TO QUEUE
    31 1/2 ft

    11.
    LS MORE PEOPLE RUN TO QUEUE (PAN) CROWD LINING UP
    39 ft

    12.
    MS BANK OFFICIALS ALLOWING PEOPLE INTO BANK
    43 ft

    13.
    MLS CROWD AT BANK ENTRANCE
    45 ft

    14.
    MS CROWD AT BANK COUNTERS WAITING TO WITHDRAW MONEY
    48 ft

    15.
    MS DEPOSITORS WITH BUNDLE OF MONEY IN HAND WALK OUT OF BANK AFTER WITHDRAWING
    50 ft

    16.
    CU MAN CARRYING BUNDLE OF MONEY OUT OF BANK
    52 ft

    17.
    MS TRACK PEOPLE QUEUING OUTSIDE BANK
    55 ft

    18.
    LS (PAN) CROWD OUTSIDE BANK
    61 ft



    Initials CAR/VS/MK/CA/RBI



    Script is copyright Reuters Limited. All rights reserved

    Background: DESPITE THE HONGKONG GOVERNMENT'S ASSURANCE THAT IT WAS IMPORTING STERLING BANKNOTES BY AIR TO OVERCOME A SHORTAGE OF DOLLAR. BILLS, QUEUES OF DEPOSITORS CONTINUED TO FORM OUTSIDE CHINESE-OWNED BANKS -- TO WITHDRAW THEIR MONEY.

    MOST OF THE PEOPLE IN THE QUEUES WERE HOUSEWIVES AND HAWKERS. MANY OF THE WOMEN, WITH BABIES ON THEIR BACKS, WAITED IN THE HOT SUN. POLICE HAD TO USE LOUDSPEAKERS TO KEEP THE QUEUES IN LINE.

    THE RUSH FOR WITHDRAWALS BEGAN LATE LAST MONTH WHEN AMERICAN DOLLARS CHEQUES ISSUED BY A CHINESE BANK IN HONGKONG WERE NOT HONOURED IN THE UNITED STATES. THE BANK CLOSED DOWN AND A RECEIVING ORDER WAS MADE AGAINST IT.

    WITHIN THE PAST FORTNIGHT, TWO BANKS HAVE SUSPENDED OPERATIONS FOLLOWING THE RUSH ON WITHDRAWALS.

    MEANWHILE, HONGKONG'S "BIG TWO" WESTERN BANKS HAVE GIVEN THEIR SUPPORT TO LEADING CHINESE BANKS WHICH ARE CURRENTLY EXPERIENCING ONE OF THEIR WORST RUNS IN THE COLONY'S BANKING HISTORY. THE TWO BANKS ARE THE HONGKONG AND SHANGHAI BANKING CORPORATION AND THE CHARTERED BANK.

    THE HONGKONG GOVERNMENT HAD APPLIES EMERGENCY BANK CONTROL REGULATIONS AND LIMITED THE AMOUNT THAT COULD BE WITHDRAWN FROM A BANK IN NOTES TO 100 HONGKONG DOLLARS (ABOUT SEVEN POUNDS STERLING) FOR EACH ACCOUNT EACH DAY. ALSO IN A MOVE TO CURB FURTHER WITHDRAWALS, THE HONGKONG EXCHANGE BANKS' ASSOCIATION HAS WARNED TIME DEPOSITORS AGAINST EXPECTING PAYMENTS BEFORE MATURITY.

  • Tags

  • Data

    Film ID:
    VLVAEI7KS96MA9EHR3PLS6XGESXEB
    Media URN:
    VLVAEI7KS96MA9EHR3PLS6XGESXEB
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    10/02/1965
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:01:36:00
    Time in/Out:
    /
    Canister:
    N/A

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