Happy Holidays

Merry Christmas Comment Graphics

My Latest Research Post on Wikipedia -- K. P. Chen

K. P. Chen was a friend of my great grandfather, Seow Poh Leng and was mentor and teacher to my grandfather Seow Sieu Jin both of whom I have posted biographies on Wikipedia. I decided to do a bit more research on K. P. Chen to see what kind of people my forefathers hung out with and was surprised at what I discovered. My initial post on K. P. Chen was quite modest but as time went on I researched more and discovered more. What a facinating person he was. A remarkable man indeed. Have a read yourself.

K. P. Chen

K. P. Chen (1880 - 1976), a Shanghai banker and nonpartisan State Councillor, was a great innovator, one of China's most successful entrepreneurs in the twentieth century, and was particularly influential in the financial and business world of Shanghai.

In fact, in "Banking in Modern China: Entrepreneurs, Professional Managers, and the Development of Chinese...", the author, Linsun Cheng says, "It is almost impossible to describe any significant innovation in the history of modern Chinese banks without mentioning Chen Guangfu's name."

This unassuming looking gent was the founder of the first modern Chinese savings bank, a travel agency, as well as the China Assurance Corporation Ltd. On Monday, Mar. 18, 1940, Time Magazine described him thus:

"Middle-aged Banker Chen (University of Pennsylvania '09) looks so much like a Westerner's idea of a Chinese banker that wily and subtle-minded Americans have difficulty in believing he is as simple and direct as he is. Of average height, moderately fat, bespectacled, careful, shy of the press, close-mouthed (in the Calvin Coolidge rather than Sumner Welles sense), he has no hobbies, makes no picturesque Oriental remarks, works 24 hours a day at the unglamorous business of cementing U. S.-Chinese trade relations, and considers Chinese repayment of U. S. loans his personal responsibility. His pride: that China has repaid $2,300,000 of her previous $25,000,000 loan, is now, because of U. S. needs for tung oil and tin, ahead of schedule."

The most important elements in his success were his American education and connections; his sense of professionalism (demonstrated by his opposition to official interference); his ability to compete and collaborate with foreign firms; his desire to innovate and explore various business strategies; his skill at obtaining community and professional support; and the unity of Chinese bankers.

Early Years

K. P. Chen was born Chen Guangfu in Dantu, Jiangsu in China in the year 1880. He was born into a family with little education.

He caught the attention of compradors of a foreign firmwho decided to sponsor his education in America.

He graduated in 1909 with a BSc degree from the Wharton School of Finance at the University of Pennsylvania in Philadelphia.

After graduation, as part of the sponsorship agreement, he worked as an intern in an American bank for a year.

He then returned to China where he joined the Nanyang Quanyehui (the Nanjing South Seas Exhibition, imperial China’s first attempt to join the great European powers in hosting an international exposition, which showcased to the world both China’s modernization and her cultural heritage).

The Jiangsu Bank

K. P. Chen began his China banking career in 1913, when he joined a government bank, the Jiangsu Provincial Bank, as its General Manager. There, he introduced something new nearly every day, believing innovation necessary for success.

He broke with tradition and moved the bank's headquarters from Jiangsu to the banking capital of Shanghai, made loans on credit of goods rather than pesonal credit and invited Western accountants to regularly audit the bank's balance books.

The bank established warehouses for its commodities lending operations, the first to do so in China.

All this, he did, in just a year after which he was forced to resigned when he refused to disclose the names of the bank's customers to a local warlord.

The Shanghai Commercial & Savings Bank (The Shanghai Bank)

With 80,000 Yuan in initial capital, K. P. Chen, together with some others including President of the Chinese Red Cross, Zhuang Dezhi, founded The Shanghai Commercial & Savings Bank, in Shanghai in June 1915, and was appointed its General Manager. Comparatively, their initial capital was so small the bank became known as "the Little Shanghai Bank".

His guiding principle was “service to society, support for industry, and prosperity to enhance international trade” and he made sure that his staff must be very polite and patient with their clients, small depositors. In his address to his staff in Qingdao branch, he emphasised that they must appreciate their customers business -- whether for one or 100 Chinese dollars -- must do their best to give their customers convenience, and must be friendly to businessmen. He said “the customer’s psychology always favors a busy place,” because the sight of a busy firm will make people trust it and claimed that the aim of The Shanghai Bank was to serve society and not just make a profit. So, even though some services would not be profitable, they still had to be offered. Chen Guangfu xiansheng lüezhuan (The short biography of Chen Guangfu, Taipei: Shanghai shangye chuxu yinhang, 1977, p. 31.).

Innovation seems to have come naturally to K. P. Chen. It did not stop with the Jiangsu Bank. At The Shanghai Bank, contrary to what other banks were doing at the time, he concentrated on attracting deposits from the public instead of notes issuance.

K. P. Chen was the first to introduce "one dollar" accounts, encouraging savings among individual members of the greater public and took the lead in introducing many different types of savings programs.

In 1928 The Shanghai Bank handled over 6 million Yuan in foreign exchange and became the number one private bank handling foreign exchange in China. The Chartered Bank of India, Australia and China, became upset because of The Shanghai Commercial and Savings Bank' efforts to promote their foreign exchange business, and decided to refuse The Shanghai Bank's foreign exchange contracts. In retaliation K. P. Chen refused to accept contracts from The Chartered bank and made this known to the Shanghai banking community through The Shanghai Bankers Association and The Shanghai Foreign Bankers Association, whom he rallied to his cause. Eventually The Chartered Bank came to cooperate with The Sanghai Bank through the mediation of a third party.

In 1931 he created a special trust department in The Shanghai Bank initially to rent out safety deposit boxes but later on including insurance and real estate operations among other things.

He travelled all over China. In the 1930s K. P. Chen would go into the Chinese countryside and attempt to make small farmers "banking-conscious", as observed by a Chartered Bank manager who accompanied Chen on one of his stints. "Don't go to Sinkiang. It's a very hard trip—even dangerous. And when you come back, no one will believe what you find there." he once told a Time Inc.'s Nanking correspondent, Frederick Gruin.

Travel Service Department of the Shanghai Commercial

In 1923 K. P. Chen was treated badly when booking his passage at a British-run travel agency. On returning to Shanghai he decided to establish a travel service department within his bank to compete with the foreign travel agencies.

Having made the necessary preparations he submitted a proposal to the Ministry of Communications under the Northern Warlords Government (1912-1927), asking for permission to establish a travel service department and to sell train tickets on a commission basis.

Whilst the proposal was voiciferously opposed by the many foreigners occupying important positions in many Chinese railways build with foreign loans at the National Railway Through Transport Conference, it was finally adopted thanks to the support of General Director of Communications Ye Gongche and others, and on August 1, 1923, the Travel Service Department of the Shanghai Commercial, the first of its kind run by Chinese compatriots, was born in the Banks Building on Ningbo road. It operated on a trial basis and opened only to those from "polite society" instead of to the wider populace, providing a comparatively limited business scope.

Its official opening ceremony was held on June 1, 1927 and the Shanghai Commercial Savings Bank travel department was formally registered as the China Travel Service. Unfortunately, the average daily turnover in the next few months was too low to cover costs. This embarrassing situation provoked a series of complaints from the board of directors and Chen was obliged to make a thorough reshuffle.

With a total investment of US$50,000, the travel agency was separated from its parent company and had to take on the whole responsibility for its profit and loss from then on. Chen Xiangtao, once an official from the Shanghai Public Communications Bureau was assigned the post of general manager. In April 1928, it changed its name to China Travel Service (holdings) Co. Ltd. (abbreviated as CTS (holding)). The year 1931 was the heyday for the CTS, they won the right to deal in European train tickets for Chinese travelling overseas. In the same year CTS opened up more than 20 chain hostels around the country and its annual profits reached more than US$4 million.

The CTS halted its travel service during the War of Resistance against Japan (1937-45) but was unable to recover after liberation in 1949. It declared bankruptcy in July 1954 and retreated from the arena, but its epoch-making contribution to the Chinese Tourism Industry is still dwelt upon with great relish.

Today it is one of the state-owned large-scale lead enterprises managed by State-owned Assets Supervision and Administration Commission of the State Council. The core business of CTS (holdings) includes travel, industry invests (steel and iron), the related real estate development and distribution trade.

Liu Hongsheng, Insurance and The China Development Bank

In 1927 K. P. Chen teamed up with Liu Hongsheng (1888-1956) to establish an insurance company. Three years later Liu Hongsheng mortgaged his new eight-story group office building to K. P. Chen to raise the capital for launching The China Development Bank.

China's Wartime Finance Advisor

K. P. Chen was head of China's China's Currency Stabilization Board.

During World War II, The Shanghai Commercial and Savings Bank was devoted to consolidating the economy. In order to solve the financial problems, K. P. Chen represented the government of China and negotiated with U.S.A. for loans. Some agreements were made:

 1936 -- US-China Gold-Silver Agreement
 1938 -- $25,000,000 Export-Import Bank loan
 1939 -- Tung Oil Loan Agreement
 1940 -- Tien Tin Loan Agreement

In 1938 when the Chinese Ambassador Wellington Koo called on U. S. Secretary of the Treasury Henry Morgenthau to seek financial aid, the U. S. Secretary told him it might be advisable for the Chinese Government to send K. P. Chen (whom Morgenthau had negotiated with in the past) to America to enquire after credit for the purchase of flour and grain goods.

In 1939 Finance Minister Kung, through K. P. Chen, endeavoured to obtain assistance from from the American Commercial Credit for the purchase of four airplanes, badly needed by the China National Aviation Corporation. K. P. Chen also participated in concluding a contract at Detriot to purchase 1,000 trucks from General Motors and Chrysler for the Chinese government.

Reputation was important to him and he always made sure he kept his promises and by so doing, demonstrated integrity and ensured that China met its commitments.

Time Magazine on Monday, Apr. 6, 1942 reported that "Shy, determined Chinese financier K.P. Chen stuck a feather in his cap last week. From Chungking he wired Manhattan's Universal Trading Corp. to pay the final installment on a $22,000,000 Export-Import Bank loan smack on the tung-oil barrel head—nearly two years before the last installment on the loan was due." This showed U.S. Treasury officials that China could do business even when Japan controlled its coast. When he sought to borrow money from Washingtown in 1938, democracy was not considered good security but tung oil, essential in high-grade paints and varnishes, were. To make this work he founded Universal Trading Corp. in Manhattan to manage tung-oil sales, budgeting one-half of the proceeds to repay the debt. He also organized Foo Shing Trading Corp. in China to gather and ship the oil.

K. P. Chen made outstanding contributions in stabilizing the monetary system and raising funds for war of resistance.

Public Office

On April 17 1947 Generalissimo Chiang Kaishek, President of the National Government of the Republic of China nominated K. P. Chen to membership of the then new state council.

Close Shave

In December 1941, K. P. Chen together with Finance Minister and Vice Premier H. H. ("Daddy") Kung (who took over the ministerial position of T. V. Soong when the latter resigned), his wife and her Soong sister, Madame Sun Yatsen were caught in Hong Kong when war erupted in Asia. Amid a torrential downpour of bombs and artillery shells, K. P. Chen, Kung, and Madame Sun, were hustled into a plane, flown over the Japanese lines and set safely down, 200 miles inland. (From the Dec. 22, 1941 issue of TIME magazine).

Champion of Human Capital Development

K. P. Chen believed in the power of people and saw his investment in their development as an investment in the future profits of the bank.

He approved an annual budget of 12,000 tael in silver and invited a former manager of the Deutche-Asiatische Bank to lecture his staff on the theory and practice of foreign exchange.

He set up an educational fund to send senior managers to America to continue their education and practice advanced banking skills there.

The bank had a global business network through its overseas representative offices managed by its senior managers.

The Three Musketeers

K. P. Chen cultivated close relationships with Li Ming (founder and CEO of Zhejiang Industrial Bank and Chairman of the Shanghai Bankers Association) and Zhang Gongquan who like he was, represented a new generation of modern bankers.

Half of his initial capital for the The Shanghai Commercial & Savings Bank came from Li's sources.

Both K. P. Chen and Li Ming stood up for Zhang Gongquan and accused the government of wrongfully issuing the order when Zhang's Bank of China's Shanghai office got into trouble for refusing to obey the governments order to suspend banknote remittance.

K. P. Chen became close to Zhang Gongquan when he became a private financial consultant to the Bank of China at the time between leaving the Jiangsu Provincial Bank and the founding of The Shanghai Commercial & Savings Bank.

Probably because of his tiny initial capital, K. P. Chen received a long term interbank deposit of 50,000 Yuan from Zhang Gongquan from The Bank of China as reserve capital encouraging close cooperation between the two banks.

Misc

K. P. Chen whose bank had been involved with the cotton industry since its early days, served as Chairman of the Cotton Control Commission or CCC. He was close to Song Ziwen (T. V. Soong, the Minister of Finance and Founder and Director of the National Economic Council) whose idea it was to make private entrepreneurs and capital a vital part of the CCC's nation-building efforts, and had long been involved in state-private projects sponsored by Song.

K. P. Chen was the dynamic chairman of the Universal Trading Corporation (UTC), a wholly-owned subsidiary of China's Nationalist Government, formed for the purpose of promoting Sino-American foreign trade. Chen, a successful, self-made capitalist entrepreneur, believed that UTC could be the perfect vehicle for his stewardship of China’s postwar economic reconstruction. He also placed a premium on Sino-American cooperation and communication.

K. P. Chen was Chairman of the China Committee of International Chamber of Commerce. He was also Chairman of China's Foreign Trade Commission.

K. P. Chen was a signatory to the 1938 appeal for U. S. support by 10 Chinese Associations in Shanghai following the occupation of Manchuria by Japan. (United States Department of State / Foreign relations of the United States diplomatic papers, 1932. The Far East Volume III (1932) -- The Far Eastern crisis: occupation of Manchuria by Japan and statement of policy by the United States, pp. 1-754)

K. P. Chen was a major financier of industrial projects. Often working together with others, he set up various textile, metals and trading companies. He was a member of the board of Fan Xudong's Yongli Group of Companies.

The End

In July 1976, K. P. Chen passed away.

Notes/Sources

The Making of Modern Chinese Financial Entrepreneurship: The Case of Chen Guangfu by Pui-tak Lee, University of Hong Kong

Personal papers of Chen Guangfu / K. P. Chen deposited in the Rare Book and Manuscript Library, Columbia University,

Recently published materials about Chen Guangfu / K. P. Chen from mainland China's archives

The Shanghai Commercial & Savings Bank, Ltd

Emergence of Modern Chinese Financial Corporations: Case Study of Shanghai Commercial And Savings Bank, China Assurance Corporation Ltd, and China Travel Agency -- Investigated by Dr P. T. Lee, Centre of Asian Studies Department, July 1998 - June 2000)

Article "Confucian Capitalism?: Corporate Values in Republican Banking" by Andrea McElderry (Univ. of Louisville) in journal "Modern China", Vol. 12, No. 3 (Jul., 1986) , pp. 401-416 (c) 1986 Sage Publication Inc.

Whither Japan - Page 122 by Shuxi Xu - 1941 | Today's announcement follows three months' negotiations with US financial mission headed by Dr. KP Chen. It was further announced that the credits would be ...

Morgenthau Diary (China): Prepared by the Subcommittee to Investigate the Administration of the... - Page 551 | by United States. Congress. Senate. Judiciary - 1965 | On his return from Chungking to Hong Kong, Mr. Cochran had a talk with KP Chen in which the latter indicated his desire to withdraw from the Board. ...

Morgenthau Diary (China): Prepared by the Subcommittee to Investigate the Administration of the... - Page 885 | by United States. Congress. Senate. Judiciary - 1965 | Mr. KP CHEN On April 17, 1942 Mr. KP Chen, chairman of the Currency Stabilization Board, appeared much older and more fatigued than the year before when he ...

Interlocking Subversion in Government Departments: Hearing Before the Subcommittee to Investigate... - Page 2337 | by United States. Congress. Senate. Committee on the Judiciary - 1954 | I told him that I learned from Mr. KP Chen that wood oil, tung oil, the annual production is about 44000 tons a year and in about five years, ...

The Amerasia Spy Case: Prelude to McCarthyism - Page 21 | by Harvey Klehr - History - 1996 - 280 pages | In 1940 Solomon Adler and Frank Coe, another Treasury Department employee who was a member of the CPUSA, introduced Chi to KP Chen, the Nationalist ...

The Amerasia Papers: A Clue to the Catastrophe of China ... Prepared by the Subcommittee to... - Pages 1216, 1373, 1374 | by United States. Congress. Senate. Judiciary Committee - 1970 | It has been learned that Keswick proposed the formation of a Chinese company in the United States by KP Chen and Bang HOT and others ...

A History of Modern Shanghai Banking: The Rise and Decline of China's Financial Capitalism - Page 293 | by Zhaojin Ji - Business & Economics - 2003 - 325 pages | ... fl Chase Bank Chen Bulei Chen Guangfu (KP Chen) Chen Guofu Chen Yun ...

Institute of Pacific Relations: Hearings, Eighty-second Congress, First[-second] Session... | by United States. Congress. Senate. Committee on the Judiciary - 1953 | ... I told him that so far as I was informed, ! in this country, having arrived with KP Chen, but that to get 1 public perhaps is difficult. ...

Shanghai: Revolution and Development in an Asian Metropolis - Page 9 | edited by Christopher Howe - Science - 1981 - 461 pages | ... the Chien brothers (Chien Chao-nan and Chien Yu-chieh) and the bankers, KP Chen (Ch'en Kuang-fu) and Chiang Kia-ngau (Chang Chia-ao). ...

Guide to Nanking and the Nanyang Exposition - Page 9 | 1910 - 55 pages | KP Chen Hwei-teh, 13.

83-1: Executive Sessions of The Senate Permanent Subcommittee on Investigations of The Committee... - Page 3433 | by United States. Congress. Senate. Committee on Governmental Affairs - 2003 | There were also Chinese members of the boards, Mr. KP Chen was one, and he was the head of the Shanghai Commercial Bank, and Mr. Tsu ...

The Life and Political Economy of Lauchlin Currie: New Dealer, Presidential Advisor and... - Page 392 | by Roger J. Sandilands - 1990 | ... the finance minister whom he urged the Generalissimo to replace by someone more honest and efficient. He recommended KP Chen as an alternative. ...

The Cambridge History of China - Page 775 | edited by John K. Fairbank, Denis Twitchett - History - 1983 - 1120 pages | ... the interests of the Chinese residents on the Shanghai Municipal Council), he was in touch with the bankers Sung Han-chang and KP Chen as well as the ...

Repeal of Silver Purchase Acts: Hearings Before a Subcommittee of the Committee on Banking and... - Page 38 | by United States. Congress. Senate. Committee on Banking and Currency - 1955 - 368 pages | ... The Chinese representatives were: KP Chen, YC Koo, and P. W. Kuo. Apparently the

Shanghai Money Market - Page 26 | by Shinwei Peng - 1946 - 56 pages | Mr. KP Chen, founder and chairman of the Shanghai Commercial and Savings Bank a year or so ago assured the author that the aim of that bank was to help ...

The China Journal - Page 221 | by China Society of Arts and Science | It is being sponsored whole-heartedly by such prominent Chinese leaders as Dr. PW Kuo, Mr. Ling Kang-hou, Mr. Yue Tso-ting, Mr. KP Chen, Mr. Tu Yueh-sen, ..

"China To-day" Series - Page 83 | 1934 | A Standing Committee of the Board was elected, the members being Mr. TV Soong, Chairman of the Bank of China, Mr. Hu Chun, Mr. KP Chen, Mr. YM Chien, ...

Appalachia - Page 296 by Boston Appalachian Mountain Club | One of these cultured gentlemen was Mr. KP Chen, a banker wellknown on both sides of the Pacific, and another was Mr. Pan, who was installing comfortable ...

Journal - Page 23 by American Chamber of Commerce of the Philippines | ... ability of his Chinese associates on the board: Chairman KP Chen, of the Shanghai Commercial Bank; ...

No Fears, Hidden Tears: A Memoir of Four Score Years : the Autobiography of John Lewis Keeshin - Page 84 by John Lewis Keeshin - 1983

China Today: Chin Jih Chung-kuo - Page 4 by Taiwan China Today Society, T'ai-pei Institute of Chinese Culture, Institute for Advanced Chinese studies, China Today Society, Chung-kuo wen hua hsüeh yüan. Chung-Kuo wen hua yen chiu so, Tai pei Chung-Kuo wen hua yen chiu so, Inc United Publishing Center, Chinese Institute of Translation and Research

Going to War with Japan, 1937-1941 - Page 194 by Jonathan G Utley - History - 2005 - 256 pages Harry Dexter White memo, March 16, July 12, 1938, folder 189, box 62, RG 56; Morgenthau diary, box 127, 109; HH Kung letter to KP Chen, Aug.

Banking in Modern China: Entrepreneurs, Professional Managers, and the Development of Chinese... - Page 257 by Linsun Cheng

Chinese Economic Journal and Bulletin by China. Shi ye bu. Guo ji mao yi ju, China. Jing ji tao lun chu. Published by Bureau of Foreign Trade, Ministry of Industry [etc.]

Chinese Economic Bulletin - Page 104 | by China. Jing ji tao lun chu, China. Industrial and Commercial Information Bureau, China. Shi ye bu. Guo ji mao yi ju | ... who are as follows:— Li Ming, General Manager of the Chekiang Industrial Bank; KP Chen, General Manager of the Shanghai Commercial and Savings Bank;

Chinese Economic Journal and Bulletin - Page 187 | by China. Shi ye bu. Guo ji mao yi ju, China. Jing ji tao lun chu | KP Chen and John H. Chen, Managing Directors of the Bank. The Chairmanship of the Board of Directors was entrusted to Dr. HH Kung. The Board of Supervisors ...

Chinese Economic Bulletin - Page 240 | by China. Jing ji tao lun chu, China. Industrial and Commercial Information Bureau, China. Shi ye bu. Guo ji mao yi ju

Chinese Economic Bulletin - Page 263 | by China. Jing ji tao lun chu, China. Industrial and Commercial Information Bureau, China. Shi ye bu. Guo ji mao yi ju

Chinese Economic Bulletin - Page 253 | by China. Jing ji tao lun chu, China. Industrial and Commercial Information Bureau, China. Shi ye bu. Guo ji mao yi ju

Chinese Economic Bulletin - Page 382 | by China. Jing ji tao lun chu, China. Industrial and Commercial Information Bureau, China. Shi ye bu. Guo ji mao yi ju

Banker and banking business in modern China: conference and publication of the diaries of K.P. Chen -- To study banker and banking business in modern China: conference and publication of the diaries of K.P. Chen. -- investigated by Dr. Lee P.T., funded by Hang Seng Bank Golden Jubilee Education Fund for Research, July 2001

Tung Oil Wanted -- Apr. 6, 1942, TIME Magazine

Time Inc.'s Nanking correspondent, Frederick Gruin, Monday, Oct. 20, 1947

Everyday Life, Monday, Mar. 18, 1940, Time Magazine

Emergency As Usual, Dec. 22, 1941, Time Magazine

Golden age of Chinese tourism by Vivian Wang, 05/23/2003

Chen Guangfu Pioneered China's Modern Tourism 2-- Yao Huiyuan,Cao Lingjiao

Do we really know what we want in life?

Someone wrote to me recently and in his message he asked whether we know what we want in life. He observed that our perceptions change as we grow and suggested that this may result in confusion.

I believe that deep down inside we know what we really really want in life. However, our conditioning has confused us. The examples we are exposed to everyday over the years. Our environment. The values pushed onto and into us. To the point of confusion. To the point we feel torn. Is what we want what we REALLY want or is it something we have been brainwashed into thinking we want? Internal conflicts like this happen all the time and cause unhappiness because we cannot separate what is real from what is not. Some of us are lucky and realise what is happening and this gives us the opporunity to pause and meditate and reflect on our life and what is really important. Some of us just go on plodding on through life. So many. Wondering to themselves, "I have a job, a wife, kids, a house, a car etc... Why then am I unhappy? Why does it feel like something is missing?"

Yes, our perception is always changing. This is because our perception is influenced by our perspective and our perspective is influenced by knowledge and our knowledge is ever increasing everyday with each new experience we experience. The danger of this increasing body of knowledge and how it affects us is that we end up believing we already know the answers before the questions are even asked. And so nothing is new, there are no surprises or learning and we end up being wrong as often as we are right. To be able to wake up each day and experience the world through the eyes, heart andmind of a child is a gift few of us have.

In This Life - Collin Raye

Negative Economic Outlook

While in some lights the economy looks healthier than ever — companies are sitting on record amounts of cash; bankruptcies are at 20-year lows — in others, it looks like a house of cards waiting to collapse. CFO optimism about the economy hit a 5-year low in September, according to CFO's quarterly survey, with one-third predicting a recession in the next year. That gloominess is driven largely by concerns about consumer demand, followed by rising labor costs and increased fuel prices. If consumer demand weakens any more, 34 percent of CFOs say they will cut back on hiring, and 29 percent will cut back on capital spending. How else might companies start battening down the hatches? CFO culls its best articles from past downturns on how to navigate through an economic storm.

(Source: CFO.com Members Newsletter, Thu, 19 Oct 2006)

My Wiki Post on my ancestor TAN KIM CHING

My Wiki Post on my ancestor TAN KIM CHING
Tan Kim Ching
From Wikipedia, the free encyclopedia

Kapitan Tan Kim Ching, J.P., (1829 - Feb 1892)
Image:Http://www.a2o.com.sg/a2o/public/html/online exhibit/odetoFriendship/html/King V/images/12.jpg

Tan Kim Ching the eldest of the three sons of Tan Tock Seng, the founder and financier of Tan Tock Seng Hospital (1844), was consul for Japan, Thailand and Russia, was a member of the Royal Court of Siam, was one of Singapore’s leading Chinese merchants and one of its richest men at that time. He was also the first Asian member of the Straits Branch of the Royal Asiatic Society.
Contents

* 1 His Equally Famous Father
* 2 Businessman
* 3 Man of the People in Singapore
* 4 Tan Kim Ching, Anna and The King of Siam
* 5 Philantrophy
* 6 Commendations
* 7 His Children
* 8 Final Years
* 9 Posthumous Reference
* 10 Notes/References

His Equally Famous Father

Tan Tock Seng was born in 1798 in Malacca and later migrated to Singapore. He began as a vegetable, fruit and fowlseller and later opened a shop and went into business with Whitehead and Company. Governor Butterworth made Tan Tock Seng a Justice of the Peace; he was the first Asian to be given this honour. He was a philanthropist who contributed to numerous charities. He died in 1850 at the age of 52 years leaving behind his widow, three sons and three daughters.

Businessman

In his day, Tan Kim Ching was one of Singapore’s leading Chinese merchants, one of the richest men in Singapore and had sizeable business interests in Singapore, Siam, Vietnam and Malaya. His business boomed with rice mills he owned in Bangkok and Saigon.

Upon the death of his father, the name of the firm "Tan Tock Seng" - mainly involved in the rice business - was changed to "Tan Kim Ching". The business was carried on at "River-Side" (now known as Boat Quay) from 1851 to 1859 by Tan Kim Ching as sole owner. In 1860, having admitted his brother Tan Swee Lim as a partner, the firm was known as "Tan Kim Ching & Brother", chop Chin Seng Ho, but a few months later Tan Swee Lim left the firm. The business which finally became known as "Kim Ching & Co." chop Chin Seng attained considerable success, and he bought rice mills at Saigon, Siam and elsewhere which supplied him with his milled rice. In 1888, the company opened a branch in Hong Kong.

Apart from the rice business he had mining concessions in Patani, whose workers he could supply with his own rice. He was one of the earliest merchants to import silk from China. He also involved himself in the shipping business.

In 1863, he came up with $120,000 to found and set up the Tanjong Pagar Dock Company (the forerunner of todays Port of Singapore Authority), purchased two steamships and promoted the Tanjong Pagar Dock Co.

Man of the People in Singapore

A man of influence in Singapore, Hokkien marriages were often solemnized in his office and the marriage certificates authenticated with the company rubber stamp.

In 1860 the Hokkien Huay Kuan was established in the premises of the Hock Keng Temple at Telok Ayer Street and Tan Kim Ching was installed as its first leader, a position he held for 30 years. Hew was especially noted for his establishment of a marriage registry for the Hokkiens.

In 1864, he was elected to the Grand Jury as one of the only 5 Chinese members on the jury.

In 1865 he was made a Justice of the Peace by the British Straits Setftlements government.

In 1888, he was appointed to the Municipal Council.

He was also made a Kapitan China, responsible for the conduct and administration of the Chinese population in Singapore.

He was fluent in Malay and was arguably the most powerful Chinese leader in the region in the 19th century.

Tan Kim Ching, Anna and The King of Siam

This illustrious scion of the Tan family played a key role in strengthening ties between Singapore and Siam. Tan Kim Ching had a very close relationship with the royal family of Siam and often served as their go-between. In recognising the importance of his role, he was appointed ‘the first Siamese Consul in Singapore’ by King Mongkut in 1863 and in 1885, King Chulalongkorn elevated his title to that of Consul-General. He was bestowed the Royal Title Phraya Astongt Disrarak Siamprajanukulkij. He was also Special Commissioner for Siam in the Straits Settlements.

He had great influence on the Chinese outside the Colony, especially in the northern Malay States bordering Siam, viz. Kelantan and Patani (originally a Malay state but eventually annexed in 1906 as part of the Kingdom of Siam). Exercising this influence, during the time of Sir Andrew Clarke, Tan Kim Ching was instrumental in settling a difficulty, that arose between the Siamese and Perak governments.

When King Mongkut of Siam also known as King Rama IV wanted to find someone who would help educate the members of his immediate family without attempting to convert them through use of Christian indoctrination it was to his Consul in Singapore, Tan Kim Ching, that he turned, pointing out "It is not pleasant to us if the school mistress much morely endeavour to convert the scholars to Christianity than teaching language literature etc. like the American missionaries here." In response, Tan Kim Ching recommend a suitable teacher in Singapore at that time who happened to be Anna Harriet Leonowens, a young widow, looking for work to support herself and two children. The story of the schoolteacher and the King of Siam has been made popular through the films "The King & I" (Yul Brynner and Deborah Kerr) and "Anna And The King (Chow, Yun Fatt and Jodie Foster).

When the King & Queen of Slam landed in Singapore in 1890 they stayed at Tan Kim Ching's house, "Siam house", in North Bridge Road. It was reported that The King, who was expected to arrive in Singapore at Tanjong Pagar Wharf onboard the royal vessel “Ubon Burratit” on 30 May 1890, had landed at Johnston’s Pier instead. Due to the late arrival, only Tan Kim Ching was at the Pier to receive him.

Philantrophy

Tan Kim Ching And The Tan Tock Seng Hospital

On July 25, 1844, the foundation stone of the Tan Tock Seng Hospital was laid on Pearl's Hill. The stone was laid but the construction took 3 years. After that the hospital stayed empty for another 2 years because of insufficient funding. In 1852, in order to ease overcrowding at the hospital founded by his father Tan Tock Seng, Tan Kim Ching offered timely assistance - to bear the cost of additions to the building which was approximately two thousand dollars ($2,000). His generous gesture led to many other merchants increasing monthly subscriptions to Tan Tock Seng Hospital.

Image:Http://www.crescent.edu.sg/ipw/2000/sec1/13g10-ttkhospital/Website/marbletablet.JPG

By 1854 the additions were completed. An inscription engraved in stone at the hospital gate acknowledges the donation of $3,000 by Tan Kim Ching. After all of that it was decided that the Tan Tock Seng Hospital had to move as the government wanted to build a new building. Tan Kim Ching agreed to the move, on condition that the rebuilt hospital should not cost less than the original one. He also requested for a female ward, which his mother paid for in 1858 to perpetuate the memory of Tan Tock Seng. In 1858, two years after the government's decision to acquire Pearl's Hill, construction work began and Tan Kim Ching donated an additional $3,340.

Image:Http://www.crescent.edu.sg/ipw/2000/sec1/13g10-ttkhospital/Website/marbletablet2.JPG

Tan Kim Ching And The Tan Si Chong Su

Tah Kim Ching together with Tan Swee Beng donated funds to build an ancestral temple to serve the needs of the Tan Clan (people bearing the Tan surname) and in 1876 the Tan Si Chong Su was built.

Others

In 1849, when the Chinese school Chung Wen Ge was built, he donated $100.

In 1854, he donated $150 towards the constuction of the Chui Eng School.

Commendations

Commander of the Third Class of the Order of the Rising Sun of Japan.

Special letter of thanks from the Governor of the Straits Settlements, Sir Andrew Clarke, for his role in settling a difficulty that arose between the Siamese and Perak governments.

Special letter and honour from China for his contribution to the Famine Fund in 1890.

His Children

He had the following children through his marriage to Chua Yee Ren: i. Tan Soon Toh (1853-1892) ii. Tan Cheng Gay Neo (-1892) iii. TAN Unknown Female (1892-) iv. Tan Siew Kong (-1892) v. Tan Hay Leng (1892-1943) vi. Tan Boon Nin (-1892) vii. Tan Kah Chiat (-1892) viii. Tan Eng Say aka. Chit Sia (1878-1941) ix. Tan Keck Geang (-1886) x. Tan Choo Neo (1892-)

His daughter, Tan Cheng Gay Neo, who had been taught Chinese and also a little English, was the first among those appointed trustees of his estate to take out probate of his will- one of the rare instances of a Chinese lady being appointed and assuming the duties of executrix of the will of a Chinese testator.

Five of his grandsons, Tan Boo Liat, Tan Cheow Pin, Tan Kwee Liang, Tan Kwee Swee and Tan Kwee Wah (all sons of the late Tan Soon Toh) were very well-known members of the Chinese community.

Final Years

Towards the end of his life a prosecution was instituted against him for keeping slaves, but he was discharged. He died in February 1892 and his remains were interred at his private burial ground at the thirteenth mile on the Changi Road.

At his death, he was the owner of the steamers Siam and Singapore, and of a large number of concessions, including some at Mount Ophir, Kampong Rusa, Patani and various others, which had not been prospected.

Posthumous Reference

The setting up of the Tao Nan School, established on 18 November 1906, financed by the Hokkien Huay Kuan (which was led by Tan Kim Ching before he died), was initiated by Tan Boo Liat, the son of Tan Kim Ching. Tan Kim Ching's residence at Siam House served as temporary grounds for the school which moved to its own premises in Armenian Street and later Marine Parade (1982).

Although he was buried in Changi, his grave was transferred to Bukit Brown in 1940.

Notes/References

1) An Ode To Friendship -- Celebrating Thailand-Singapore Relations, Mr Wong Wee Hon, Head (Archives Reference Room),National Archives of Singapore

2) Singapore Then & Now, Ray Tyers, University Education Press, 1976

3) The London Illustrated News, 6 March 1858

4) The Free Press, 31 May 1890

5) The Sunday Times, 30 November 1969

6) From Competition to Constraint: The International Rice Trade in the Nineteenth and Twentieth Centuries, A. J. H. Latham, University of Wales, Swansea

7) Tao Nan School by Mr Dhoraisingam S. Samuel

8) Lim Siew Yeen & Renuka M, National Library Board, Singapore, 2002

9) The King of Siam's Eclipse: The Total Solar Eclipse of August 18th, 1868 by Heather Hobden

10) Cavenagh Private Letterbooks Volume XI Oct 1865 To Oct 1868 and Volume VII 10th Jul 1863 To 27th Dec 1863, University of Victoria, British Columbia, Canada

11) The English Governess at the Siamese Court -- Being Recollections of Six Years in the Royal Palace at Bangkok by Anna Hariette Leonowens, 26th July 1870

12) Ancestors of Claudine Chionh, Claudine Chionh, 2005

13) Lawrence Tan's Family Tree, Lawrence Tan

(Researched by Jeffery Seow)
Retrieved from "http://en.wikipedia.org/wiki/Tan_Kim_Ching"

Categories: 1829 births | 1892 deaths | Thai businesspeople | Chinese businesspeople | Malaysian businesspeople | Singaporean businesspeople | Chinese people in history

The Sanctuary Of Truth - Pattaya, Thailand

I was reading through the Sunday Star Weekender section and came across an article on a remarkable piece of architecture.

The construction of a magnificent wooden palace called The Scantuary of Truth, dreamchild of Thail billionaire Khun Lek Viriyaphan, began in 1981 and may take another 20 years to be completed. What is currently available for viewing is nothing short of breathtaking, the result of generations of families (including about 40 wood carvers) who have been working on it in the building itself and out of a small wood shed.

Storytelling in bass-relief, we are treated to visions out of Buddhist and Hindu lore. Those stories and the purpose of this modern artefact are best told in the words of the people representing and marketing the place:


"From the Cold War era until today, the world has been under the influence of western civilization , accentuated by materialism and devotion to advanced technology. Many natural areas have been degraded , and men have drifted away from their old values in such a way that morality and spiritual contentment have become irrelevant to many people. Their attempts to control nature have transformed many people into egotistical individuals who are out to destroy one another through incessant wars and economic plundering. Most are after only happiness in this life, and believing that there is no life after this.

This sanctuary of truth was conceived out of the vision that human civilization has been achieved and nurtured by religious and philosophical has been achieved and nurtured by religious and philosophical truth. This sanctuary was created not from hubris but from goodness drawn from religion , philosophy and art.

Man cannot be born and exist without seven creators. The Sanctuary of Truth presents seven creators through carved wood sculptures which adorn its interior. They are: Heaven , Earth , Father , Mother , Moon , Sun and Stars.

On top of the four spires of the sanctuary, the four elements that will lead to the ideal world according to eastern philosophy are presented

1. A wood sculpture of a celestial body (Deva) holding a lotus flower , representing the establishment of religion , the pillar of the world
   
   
2. A wood sculpture of a celestial body holding a child and leading and elderly person , which represents life bestowed upon human beings
   
   
3. A wood sculpture of a clestial body holding a book representing the continuation of immortal philosophy
   
   
4. A wood sculpture of a celestial body with a pigeon perching on his hand , symbolizing peace

On top of the tallest, central spire is Kalaki mounting a horse, the symbol of Phra Sri Ariyametrai Phra Sir Ariyamethai was the last Bodhisattva to achieve enligtenment in the world and become the fifth Buddha in the Bhadhra era,i.e., the present era

Board 1 : This is a sanctuary where people can gather to recognize the seven creators and the Four elements that will lead to the ideal world whether for each individually or for the whole world.

The steps that humanity must go through to erach such an ideal world include the war between the good and the evil, spiritually and in battlefields. The creator of the art work presented here portrays this through woodcarvings depicting the stories from two greal epics, Mahabharta and Ramayana. These stories are meant to help fight against personnel desires and lust and to extinguish them.









Board 2 : Wood sculptures on the pediment depict Mahisha Sura Mardini, an episode of Turaga Defeating Mahingsa the ogre, symbolizing iqnorance conquered by wisdom.

Wood sculptures in the front gable depict parents, as the creators who give life to their offspring. Parental love is clean and pure. It is giving without taking, just like water in a clear stream that refreshes the heart and soul. The kindness of a father and a mother is greater than the sky and the ocean.



Board 3 : Carvings depict episodes from the Krishnavatar, the 8th reincarnation of Vishnu. They iclude Krishna on his cow Vardhana, Krishna standing on the head of Naga, Krishna and the cowherds, and Krishna on a swing with Radha. In the epic Mahabharta, which is about the war between Good and evil on the Kurukasetra plain, Krishna drove The chariot of a Pandave king, the representative of Good who was waging war against the Evil, a Kaurava King. Before entering the battlefield, Krishna enlightened The Pandava king do that he would understand and could perceive the cycle of birth and death. This became the teaching sermon of Vishnu, known as the Bhagavatgita, on of the most famous texts of Hinduism.








Board 4: Wood sculptures representing the gods of the planet. These plandets move around along their orbits in the sky. They influence all human and the course of life The Deities who control these movements are the gods of the Nine planets. According to an old belief:

• The sun represents honor and social status.
• The moon represents honor and social atatus.
• Mars represents courage and industry.
• Mercury represents gentleness.
• Jupiter represents wisdom.
• Venus represents wealth.
• Saturn represents unhappiness and suffering.

Board 5 : Wood sculptures of Chinese supernatural beings, including the Bodhisatava, as viewed by Mahayan Buddhism is one of the two or branches of Buddhism.

It is sometimes called the large vehicle that will carry people across the cycle of birth and death. Bodhisatava id the one who will become enlightened and be Buddha, But declines to reach nirvana, wanting to save men from suffering first. There are countless Bodhisatavas in Mahayana Buddhism, such as Bodhisatvalikotesavara (Kuan Yin), Bodhisatva Manyachusri, etc. Although born under different circumstances, if they Conduct good deeds and live good lives, men can be Released from the cycle of karma.







Board 6 : Carved work showing that the world is composed of Mahabhutas or the great four elements; earth, water, wind and fire. The gods these four elements are Brahma, Shiva andVishnu. Shiva, god of Earht, who stays on top of the Krailas mountain has a third eye in his forehead. When he opens his third eye, whatever he looks at will burn. So he controls Fire. Vishnu sleeps atop Ananta Nagaraj in the middle of a sea of milk. He is the God of water. Brahma who rides a swan is the god of the sky and the Wind.









Board 7 : This work indicates that humans art only dust in and will ultimately become one with the universe.

Physical beings deteriorate, ravaged by the time, but truth and goodness are immortal.Materialistic pleasure is a superficial physical and external joy. True happiness found in intrinsic spiritual pleasure. Ideals make human life more meaningful. Determination to go to the ideal world is something desired by all men. Every belief, every religion and every philosophy leads there by different paths.







Four faced Brahman surmounts the transept of the front pavilion. Brahma is one of the three major Gods of the Hindu world. Called the Trimuarati, they are brahma, Shiva and Vishnu. Brahma is self-conceived, and he is believed to be the creator of the world and all beings. In Buddhism, the four kharmas of a Brahman include kindliness, benignity, rejoicing in others’ good fortune and equanimity.

To ponder the great questions of heaven and earth and yet live for humanity, to study and teach the sublime knowledge of scholars of the past, and to create eternal Peace for all mankind. This id the true goal and the knowledge great men strive to achieve."





It seems a real shame that I missed this place when I was in Pattaya in 1999. I could go on and on about this place but a picture speaks a thousand words so I'll show you instead:









For more information about the place, how to get there and how to book tours and accomodation etc contact:

The Ancient City Co.,Ltd.
( Pattaya office )
Address : 206/2 Moo5 Naklua 12 Naklua Rd.,Banglamung
Chonburi 20150 Thailand
Telephone . +660-3836-7229,
+660-3836-7230, +660-3836-7815
Facsimile : +660-3836-7845
E-mail : info@sanctuaryoftruth.com
www.sanctuaryoftruth.com
Picture Download

or

The Ancient City Co.,Ltd.
( Bangkok office )
Address : 62-74 3Bldg., Ratchadamneonklang Rd., Bovrnivet,
Pranakorn Bangkok 10200
Telephone .+660-2622-3591-2
Facsimile : +660-2622-3593
E-mail : info@sanctuaryoftruth.com
www.sanctuaryoftruth.com


Have a lovely adventure!!!

<(^_______________________________________________________________________^)>