Who's Who in China (3rd edition)/Sung Han-chang

Mr. Sung Han-chang

宋英章字漢章

Mr. Sung Han-chang was born in 1872 at Chien-ning Hsien, Fukien province, where his father was engaged in the salt business. In 1881 he returned to his father's native city, Yu-yao Hsien, Chekiang province. He studied there till 1889 when he joined the Chinese Telegraph Administration as an accountant. While serving in that capacity he spent his leisure time in studying English. He left the Administration in May 1895 to join the service of the Chinese Customs Administration, Shanghai, as a clerk on the indoor staff. Two years later he was transferred to the Ningpo office. Mr. Sung resigned from the customs in 1898 in order to return to the service of the Telegraph Administration as an accountant and private secretary to the manager, Mr. King Lien-shan. In the same year he accompained Mr. King on the latter's trip to Hongkong and Macao, and became his assistant when Mr. King returned to Shanghai and joined the Imperial Bark of China, now known as the Commercial Bank of China, in 1900. In August 1906 he went to Peking to start the Peking Savings Bank under the control of the Board of Revenue. This was really a department for managing the savings accounts of the Ta Ching Government Bank then in liquidation. By an order of the Minister of the Board of Revenue. Mr. Sung returned to Shanghai to be manager of the Ta Chíng Bank in Shanghai. In 1912, with the consent of the local shareholders, he put the bank into liquidation. This involved a great volume of work for the manager and during a short period of time, the entire amount of capital, totalling Haikwan-Taels 5,000,000, was returned to the shareholders. On the other hand, Mr. Sung accepted tte appointment of manager of the Bank of China. The work of organizing and inaugurating the Bank of China also involved tremendous energy and trials, but Mr. Sung faced the situation admirably. Just when Mr. Sung had set the bank on a firm footing, Yuan Shih-kai proclaimed a state of moritorium among the government banks and almost succeeded in undoing what Mr. Sung had labored for five years to accomplish. The order was proclaimed by a Mandate on May 12, 1916, on accounnt of the government being short of funds. Instructions from Peking for Mr. Sung were that he should at once lock up the cash reserves in the strong room at the Shanghai office and remove his office to Chinese territory. Although he was impressed with the importance of obeying this order, he realised that the financial market of the port would be greatly disturbed. if it were observed and carried out. Courageously he made up his mind to resist the order and transacted his banking business as usual, avoiding a financial panic and at the same time keeping the Shanghai notes at par. Mr. Sung has been for many years president of the Shanghai Bankers' Association and director of the Chinese General Chamber of Commerce, of the Red Cross Society of China, of the Anti-kidnapping. Society, and of thş. Sha-Hsing Guild. In 1916 he was elected chairman of the Chinese General Chamber of Commerce, but he declined the honor on account of. præszure of work in his banking business. He was awarded by the Peking government the Second Class. Chiaho in August 1919 and the Second Tashou Paokuangg Chiaho in April 1923.