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Last updated on July 10, 2021
Table of Contents - Volume 7
Book 2. Building the Japanese Economy and Contributing to Public and Social Works (1873-1909)
Part 1. Business and the Economy
Chapter 1. Finance
Section 1. Banks
Sub-section 6. Takuzenkai (択善会) and the Tokyo Bankers’ Association (東京銀行集会所)
The Bankers Club (銀行倶楽部) holds its 56th dinner and Minister of Education (文部大臣) Makino Nobuaki (牧野伸顕) and others attend as guests. Eiichi gives a speech.
Bankers serving in the House of Peers and the House of Representatives as well as interested parties from member banks of the Tokyo Bankers’ Association (東京銀行集会所) and the Tōkyō Kōkanjo (東京交換所, Tokyo Clearing House) hold a joint social gathering at the Tokyo Bankers’ Association. Eiichi attends and gives a speech on behalf of the incorporators.
The Bankers Club (銀行倶楽部) holds its 57th dinner. Tsuruhara Sadakichi (鶴原定吉), director-general of the office of the Superintendent General of Korea (総督府[総監府]総務長官); Megata Tanetarō (目賀田種太郎), a financial counselor to the Korean government; and others attend as guests. Eiichi gives a speech.
The Bankers Club (銀行倶楽部) holds its 59th dinner. Vice Minister of Finance (大蔵次官) Wakatsuki Reijirō (若槻礼次郎), Deputy Governor of the Bank of Japan (日本銀行副総裁) Takahashi Korekiyo (高橋是清), and others attend as guests. Eiichi gives a speech.
The Bankers Club (銀行倶楽部) holds its 62nd dinner. Eiichi attends and gives a speech.
The Bankers Club (銀行倶楽部) holds its 63rd dinner. Eiichi attends and gives a speech.
The Bankers Club (銀行倶楽部) holds its 64th dinner. Trade Bureau Director (通商局長) Ishii Kikujirō (石井菊次郎) and others attend as guests. Eiichi gives a speech.
Interested persons from member banks of the Tokyo Bankers’ Association (東京銀行集会所) hold a luncheon at the Bankers Club (銀行倶楽部) for a Korean special envoy, the Korean crown prince, and their retinues. Eiichi attends and gives a speech on behalf of the hosts.
The Bankers Club (銀行倶楽部) holds its 65th dinner. Eiichi attends and gives a speech.
Bankers serving in the House of Peers and the House of Representatives and interested parties from member banks of the Tokyo Bankers’ Association (東京銀行集会所), the Tōkyō Kōkanjo (東京交換所, Tokyo Clearing House), and the Bankers Club (銀行倶楽部) jointly hold a joint social gathering at the Tokyo Bankers’ Association. Eiichi gives a speech representing the incorporators.
The Bankers Club (銀行倶楽部) holds its 66th dinner. Minister of Finance (大蔵大臣) Matsuda Masahisa (松田正久) and others attend as guests. Eiichi gives a speech.
The Bankers Club (銀行倶楽部) holds its 67th dinner. Inoue Katsunosuke (井上勝之助), ambassador plenipotentiary to Germany, and others attend as guests. Eiichi gives a speech.
Interested members of the Tokyo Bankers’ Association (東京銀行集会所) hold a dinner at the Bankers Club (銀行倶楽部) and invite delegates from the Chambers of Commerce of the American Pacific Coast. Eiichi attends and gives a speech on behalf of the hosts.
A welcome party for the U.S. Atlantic Fleet is held by the three organizations of the Tokyo Bankers’ Association (東京銀行集会所), the Tōkyō Kōkanjo (東京交換所, Tokyo Clearing House), and the Bankers Club (銀行倶楽部) at the Kabukiza theater in Kobikichō. Eiichi reads a welcome speech on behalf of the hosts.
On this day, the Bankers Club (銀行倶楽部) holds its 71st dinner along with a farewell party for Inoue Junnosuke (井上準之助) at the club premises in Sakamotochō. Eiichi attends and gives a farewell speech.
On this day the Bankers Club (銀行倶楽部) holds its 73rd dinner. Resident-General (統監) Itō Hirobumi (伊藤博文), Ōkuma Shigenobu (大隈重信), and others attend as guests. Eiichi gives a speech.
On this day, the Bankers Club (銀行倶楽部) holds its 74th dinner. Minister of Justice (司法大臣) Okabe Nagamoto (岡部長職) and others attend as guests. Eiichi gives a speech.
Sub-section 7. Various Finance-related Organizations
1. Ōsaka Ginkō Shūkaijo (大阪銀行集会所, Osaka Bankers’ Association)
This month, Eiichi went to Osaka to solicit subscriptions for an industrial bond and spoke with local bankers about the need to organize a professional social organization. On this day, more than ten bankers meet at the Dai-Sanjūni Kokuritsu Ginkō (第三十二国立銀行, 32nd National Bank) and thereafter hold regular monthly meetings. The following year, in August 1879, they establish a meeting place and, on 28 September, hold an inauguration ceremony. The new organization is named the Ginkō Kurabu (銀行苦楽部, Bank Club). It later becomes the Ōsaka Ginkō Shūkaijo (大阪銀行集会所, Osaka Bankers’ Association).
2. Kantō Ginkōkai (関東銀行会, Kanto Banking Society)
On this day, the Kantō Ginkōkai (関東銀行会, Kanto Banking Society), organized on the initiative of the associated banks of the Tokyo Bankers’ Association (東京銀行集会所), holds its first meeting. As president, Eiichi advises on draft bylaws and then presides over discussions on matters including the revision of the Bank Ordinance, abolition of the Savings Bank Ordinance, and submission of a petition for the postponement of the expiration of the national banks’ business licenses.
On this day, the Kantō Ginkōkai (関東銀行会, Kanto Banking Society) holds its second formal meeting. Eiichi, as president, presides over discussions on matters including the revision of the Bank Ordinance and abolition of the Savings Bank Ordinance, petition for a postponement of the expiration of the national banks’ business licenses, organization of a social gathering for the Ginkōkai, and transfer of public bonds backed by national bank-issued currency notes.
On this day, the Kantō Ginkōkai (関東銀行会, Kanto Banking Society) holds an extraordinary meeting about the expiration of the national banks’ business licenses and decides on the members for a committee to negotiate with the government. Since Eiichi is chosen as a member, he attends a meeting of the Zenkoku Kokuritsu Ginkō Kōshō Iinkai (全国国立銀行交渉委員会, Countrywide National Bank Negotiating Committee) on 5 June and is nominated as the chairman. On 6 and 7 June the committee continues to discuss a proposal requesting an extension of the terms of the banks’ business licenses.
On this day, an extraordinary meeting is held. Eiichi, as president, presides over discussion on the proposal to extend the date of expiration of the banks’ business licenses.
On this day, the Kantō Ginkōkai (関東銀行会, Kanto Banking Society) holds an extraordinary meeting and discusses soliciting subscriptions for war bonds. Eiichi, as the president of the Ginkōkai, uses his influence and provides assistance in the matter.
Representing the Kantō Ginkōkai (関東銀行会, Kanto Banking Society), Eiichi visits the Imperial Headquarters and inquires after the emperor’s health.
An extraordinary meeting was held the previous day, 22 January, and the issue of the expiration of the national banks’ business licenses was discussed at length. It was decided to agree to the draft decision on continuation and, on this day, the Kantō Ginkōkai (関東銀行会, Kanto Banking Society) notifies the central offices of the six national bank associations of the aforementioned decision and that the negotiation committee is automatically dissolved. Eiichi is involved in the process as president.
On this day, a formal meeting is held and Eiichi, as president, presides over discussion on the issue of the expiration of the business licenses of the national banks.
On this day, the fourth spring meeting is held and Eiichi, as president, presides over discussions on the selection of executive banks and other topics.
On this day, a regular meeting is held and Eiichi, as president, presides over discussion on the “proposal to the minister of finance on the issue of extending the deadline for the exchange of paper currency issued by banks that are no longer in business.”
On this day, the 7th meeting is held and Eiichi, as president, presides over discussions on amending the society’s bylaws, the selection of executive banks, and other matters. After the meeting ends, Eiichi organizes a social gathering of society members and Tokyo Bankers’ Association (東京銀行集会所) banks with himself in charge and gives a speech on behalf of the society.
On this day, the 9th meeting is held and Eiichi, as president, presides over discussion on the selection of executive banks and other matters. After the meeting ends, a joint social gathering of members of the Kantō Ginkōkai (関東銀行会, Kanto Banking Society) and the Tokyo Bankers’ Association (東京銀行集会所) is held. Eiichi gives a speech on behalf of the organizers.
On this day, the 10th meeting is held and Eiichi has Sasaki Yūnosuke (佐々木勇之助), the director and manager of the Dai-Ichi Ginko (第一銀行), attend on his behalf. After the meeting ends, a joint social gathering of members of the society and the Tokyo Bankers’ Association (東京銀行集会所) is held. Eiichi attends.
On this day, the 12th meeting is held and Eiichi, as chairman, presides over the appointment of members for an investigation committee on “the issue of the protection of bondholders’ claims,” the selection of executive banks, the revision of the society’s bylaws, and other matters. After the meeting ends, the society and the Tokyo Bankers’ Association (東京銀行集会所) hold a joint social gathering, but Eiichi is convalescing and does not attend.
3. Materials Related to the Unagikai (鰻会, Eel Society)
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4. Materials Related to the Suiyōkai (水曜会, Wednesday Society)
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Section 2. Promissory Notes
Sub-section 1. Ōsaka Tegata Kōkanjo (大阪手形交換所, Osaka Clearing House)
Previously, in June 1878, as a result of urging by Eiichi, Osaka bankers had started a social organization that they later named the Ginkō Kurabu (銀行苦楽部, Bankers Club).
This month, they establish the Ōsaka Kōkanjo (大阪交換所, Osaka Clearing House) within the club and begin bill clearing transactions. This is probably the dawn of clearinghouses in Japan. Eiichi is involved in the establishment through the Osaka branch of the Dai-Ichi Kokuritsu Ginkō (第一国立銀行, First National Bank).
Sub-section 2. Tōkyō Tegata Kōkanjo (東京交換所, Tokyo Clearing House)
From early on Eiichi had the insight to predict that transactions involving cheques and promissory notes would flourish. He had the Dai-Ichi Kokuritsu Ginkō (第一国立銀行, First National Bank) submit a petition regarding discounted bills and was committed to their promotion by encouraging bankers and merchants to use promissory notes and cheques. On this day, at a meeting of the Takuzenkai (択善会), Eiichi initiates discussion on the form of cheque endorsements, establishes procedures to guarantee payments, and ensures the safety of cheque transfers. In August the following year, he also facilitates a decision on how to deal with unpaid bills and otherwise takes the lead in expanding the circulation of cheques and promissory notes.
Since March of this year, meetings of the Takuzenkai (択善会) had frequently discussed Eiichi’s proposal to set up a clearinghouse in Tokyo. On this day, the Dai-Ichi Kokuritsu Ginkō (第一国立銀行, First National Bank) and 15 other banks submit a joint request to the Ministry of Finance (大蔵省) that an exchange transaction office be established within the Bankers’ Association (銀行集会所). On 17 November the request is approved. Exchange transactions start at the office on 18 October.
The Dai-Ichi Kokuritsu Ginkō (第一国立銀行, First National Bank) and 18 other banks submit to the Ministry of Finance (大蔵省) a jointly signed petition requesting the institution of regulations regarding promissory notes. The following year, on 11 December 1882, the Grand Council of State (太政官) issues Edict No. 57, regulations on bills of exchange and promissory notes.
This month, Eiichi is nominated as a member of the Tegata Torihikijo (手形取引所, Bill Transaction Center).
Previously, in January 1886, at a formal meeting of the Bankers’ Association (銀行集会所), the Dai-Ichi Kokuritsu Ginkō (第一国立銀行, First National Bank) had proposed the establishment of a clearinghouse. Repeated discussions ensued, but it was decided that the clearinghouse would be attached to the Tōkyō Tegata Torihikijo (東京手形取引所, Tokyo Bills Exchange) for the time being. On this day it begins exchange business. Eiichi is a managing member of the clearinghouse.
Previously, on 28 February, the Tōkyō Tegata Torihikijo (東京手形取引所, Tokyo Bills Exchange) and the clearinghouse attached to it were dissolved and the Tōkyō Kōkanjo (東京交換所, Tokyo Clearing House) was established. On this day, the clearinghouse opens for business. Eiichi is the chairman. He remains in the post until December 1905.
Previously, on 6 July, Bank of Japan Governor (日本銀行総裁) Kawada Koichirō (川田小一郎) summoned the presidents and managers of member banks of the Tōkyō Kōkanjo (東京交換所, Tokyo Clearing House), exhorting them to keep faith with one another and strengthen their solidarity. Thus, on this day, Eiichi and ten bank presidents and managers gather for a discussion, which results in a commitment to do as Governor Kawada urged; assist each other and work together to increase solidarity. Later, on 12 October, the member banks of the Tōkyō Kōkanjo adopt bylaws.
Previously, Eiichi, as the chairman of the Tōkyō Kōkanjo (東京交換所, Tokyo Clearing House), had submitted to the Bank of Japan (日本銀行) a request that current account cheques issued by the head office and branches between Tokyo and Osaka of Tōkyō Kōkanjo member banks be payable at the head office and branches of the Bank of Japan in the same locations. In response, the Bank of Japan issued a directive on certified cheques, which is implemented on this day.
It had been customary for commercial bills to be paid upon presentation to the payer during the payment period, but on this day, at an extraordinary general meeting of the member banks of the clearinghouse, a resolution is adopted to introduce a convenient method by which the name of the payment bank is affixed to the bill so that if the payment period has been reached, payment can be made when the bill is presented to the clearinghouse. They settle on the format for the wording. Eiichi is involved.
As transactions through the clearinghouse gradually began to increase, the incidence of cheques being issued with insufficient funds and dishonored commercial bills also increased. To remedy the situation, member banks meet on this day to discuss sanctions to be applied to bad bills as well as the establishment of a credit investigation office. In May 1899, the management of dishonored bills is transferred to the clearinghouse from the Tokyo Bankers’ Association (東京銀行集会所), where it had been previously. New procedures are determined and revised and expanded as necessary, but the core remains unchanged. Eiichi is involved as the chairman.
There had previously been an exchange room located within the Tokyo Bankers’ Association (東京銀行集会所) in Sakamoto-chō, but it is moved to a room in the newly constructed main building of the Bank of Japan (日本銀行). Eiichi gives a speech to mark the occasion. Later, on 1 December 1898, the exchange room is moved once more, to an upper floor of the bank’s second building.
On this day, at a meeting of member banks of the clearinghouse, it is decided to henceforth publish a weekly report of the business of the member banks. Eiichi participates in the discussion.
Watching the rapid rise in the number of banks opening for business in the city of Tokyo, member banks of the clearinghouse have frequently discussed admitting new members and increasing the number of clearing agents in order to improve conditions for their business. On this day, they decide to allow any bank that has transactions of over one million yen and holds current deposits of over 100,000 yen to join. On 7 October of the following year, they discuss and adopt regulations for clearing agents. Eiichi is involved in the process.
Eiichi and the other directors meet and, as a result of amendments to the bylaws of the Tokyo Bankers’ Association (東京銀行集会所), decide to separate the clearinghouse’s administrative work from the Association starting on this day.
At a meeting of member banks it is decided not to pay interest on current deposits of less than 100 yen. This is put in practice starting on this day. Eiichi is involved in the process.
The clearinghouse holds a spring social gathering for its member banks and invites individuals from related ministries and banks to the Bankers Club (銀行倶楽部). Eiichi attends and gives a speech.
Previously, in March 1900, Eiichi, as the chairman of the clearinghouse, had made a request to the minister of communications (逓信大臣) that postal orders payable at post offices in the city of Tokyo be also payable at the clearinghouse. Then, a regulation governing postal order transfers having been issued in March of this year, Eiichi once more submitted a request to the minister of communications, about adjusting the procedures for postal order transfers in accordance with the regulation. He obtained approval and the revised procedures become effective on this day. Later, the regulation is also applied to written notification of payments remitted by post.
Previously, in view of cases of litigation arising over issues concerning bills, an investigation committee had been formed to discuss establishing a system for the safe handling of bills. On this day, a model is chosen. Then, a specific form for accepting bills for collection is established. Eiichi is involved as chairman.
The member banks of the clearinghouse hold a year-end party at the Bankers Club (銀行倶楽部). Eiichi gives a speech.
On this day, at a meeting of member banks of the clearinghouse, it is decided to organize an association bringing together clearinghouses from across the country. Eiichi and other directors, as well as members of the investigation committee, gather and form the Rengōkai Junbi Iiinkai (聯合会準備委員会, Association Preparatory Committee). After different kinds of preliminary work, inquiries are sent to clearinghouses in Osaka, Kyoto, Kobe, Yokohama, and Nagoya.
The use of certified cheques sent to provincial regions as substitutes for bills is abolished. Eiichi is involved in this as chairman.
Despite the abolition of the rin in November 1897, it had still been used within banking services for national treasury expenditures. On this day, the clearinghouse submits a proposal that the rin no longer be used in national accounting. Eiichi is involved as chairman.
The Senji Keizai Chōsa Iinkai (戦時経済調査委員会, Wartime Economic Investigation Commission) is established to investigate the financial and economic conditions occasioned by the Russo-Japanese War with the goal of providing a reference for banking services. Sasaki Yūnosuke (佐々木勇之助) attends the commission’s meetings on Eiichi’s behalf and Eiichi himself attends occasionally.
With peace restored between Japan and Russia, the Senji Keizai Chōsa Iinkai (戦時経済調査委員会, Wartime Economic Investigation Commission) is dissolved and replaced by the Sengo Keizai Chōsa Iinkai (戦後経済調査委員会, Postwar Economic Investigation Commission), the goal of which is to investigate the financial and economic conditions of the postwar period. This commission is dissolved in October two years later. Sasaki Yūnosuke (佐々木勇之助) attends the commission’s meetings on Eiichi’s behalf and Eiichi himself attends occasionally.
The Tōkyō Kōkanjo (東京交換所, Tokyo Clearing House) holds an event to mark the 20th anniversary of their start of operations. Eiichi gives a speech. He is presented with a letter of appreciation and a pair of sterling silver flower vases for his distinguished services from the beginning.
Having reached his 70th year the previous year, Eiichi decides to retire from his business engagements, with the exception of those at the Dai-Ichi Ginko (第一銀行) and a few others. He resigns as a managing member of the Tōkyō Kōkanjo (東京交換所, Tokyo Clearing House) on this day. Since most of the member banks want him to remain in the post, however, he decides to stay.
Sub-section 3. Zenkoku Tegata Kōkanjo Rengōkai (全国手形交換所聯合会, National Clearinghouse Association)
The first meeting of the Zenkoku Tegata Kōkanjo Rengōkai (全国手形交換所聯合会, National Clearinghouse Association) is held at the Tokyo Bankers’ Association (東京銀行集会所). Eiichi is nominated as president and talks about the goals behind holding the meeting. The following day, a social gathering is held at the Imperial Hotel (帝国ホテル), to which genrō (元老, elder statesmen) and people from the Ministry of Finance (大蔵省) and the Bank of Japan (日本銀行) are invited. Eiichi gives the first speech to start the gathering.
On this day, Eiichi attends the third social gathering of the Zenkoku Tegata Kōkanjo Rengōkai (全国手形交換所聯合会, National Clearinghouse Association) held at the Tokyo Bankers Club (銀行倶楽部) and gives a speech.
On this day, Eiichi attends the fourth social gathering of the Zenkoku Tegata Kōkanjo Rengōkai (全国手形交換所聯合会, National Clearinghouse Association) held at the Tokyo Bankers Club (銀行倶楽部) and gives a speech.
On this day, Eiichi attends the fifth social gathering of the Zenkoku Tegata Kōkanjo Rengōkai (全国手形交換所聯合会, National Clearinghouse Association) held at the Tokyo Bankers Club (銀行倶楽部) and delivers a message of thanks to the guests.
Previously, Eiichi had attended a meeting of the investigation committee of the Kakuchi Tegata Kōkanjo Rengōkai (各地手形交換所聯合会, Alliance of Regional Clearinghouses) on the topic of government bonds and tax payment dates. On this day, the alliance’s president, Toyokawa Ryōhei (豊川良平), submits to Prime Minister and Minister of Finance (大蔵大臣) Marquis Katsura Tarō (桂太郎) a proposal, adopted at the meeting, concerning government bonds and tax payment dates.
On this day, Eiichi attends a social gathering of the Zenkoku Tegata Kōkanjo Rengōkai (全国手形交換所聯合会, National Clearinghouse Association) held at the Tokyo Bankers Club (銀行倶楽部) and gives a speech.
Section 3. Credit Bureaus
Sub-section 1. Tōkyō Kōshinjo (東京興信所, Tokyo Credit Bureau)
Previously, from around 1892 or 1893, Eiichi had talked about the need to establish a credit bureau, but had been busy with commercial and industrial affairs following the end of the Sino-Japanese War. On this day, Eiichi and other leading bankers in the Tokyo-Yokohama area act as incorporators and hold an organizational general meeting for the Tōkyō Kōshinjo (東京興信所, Tokyo Credit Bureau). On 24 March, a general meeting of incorporating members is held and Eiichi becomes a trustee and representative of the Dai-Ichi Ginko (第一銀行). Henceforth, he attends meetings of the board of trustees.
On this day, Eiichi attends a general meeting of incorporating members.
On this day, Eiichi attends a general meeting of incorporating members and an extraordinary general meeting. He also frequently attends meetings of the board of trustees, where they discuss amendments to the bylaws and regulations, adding a printing department, and other topics.
Eiichi often attends meetings of the board of trustees and exerts himself in managing business affairs.
Section 4. Insurance
Sub-section 1. Tokio Marine Insurance Co., Ltd. (東京海上保険株式会社)
Previously, 26 peers who were shikō (出伺, attendants) of the jakō-no-ma (麝香間, Musk Room) rank had gotten together and formed the Tōkyō Tetsudō Kumiai (東京鉄道組合, Tokyo Railway Association). They received permission to purchase the state railroad between Tokyo and Yokohama and reached an agreement with the government by which they would use their hereditary stipends to pay 3.1 million yen in yearly installments over seven years. But soon thereafter, the peer’s hereditary stipends came to an end when they were converted to interest-bearing government bonds and the Fifteenth National Bank of Japan (第十五国立銀行) was established, which, in addition to other reasons, meant that some peers found it hard to keep up their payments. After making the third payment to the government, they finally had to give up trying to purchase the railroad, submitted a request to cancel the purchase to the government, and obtained approval.
On this day, the Tetsudō Kumiai holds its 40th meeting and, in addition to discussing future objectives, resolves to dissolve. Eiichi, as the general representative, suggests founding a marine insurance company instead. Those present accept and entrust Eiichi with preparatory research.
Previously, members of the former Tōkyō Tetsudō Kumiai (東京鉄道組合, Tokyo Railway Association) had decided to start a marine insurance enterprise as a way to manage money returned to them from the government after an agreement to purchase a railway had been cancelled. They had entrusted Eiichi with the preliminary study and, a draft of the results of the research having been completed, a conference is held on this day to discuss founding a marine insurance company. Eiichi shows the draft to those present.
Members of the former Tōkyō Tetsudō Kumiai (東京鉄道組合, Tokyo Railway Association) decided to organize a marine insurance company in accordance with Eiichi’s plan and, on this day, ask Eiichi to be their general representative, take care of all documentation and other items needed to organize the company, and to remain in charge of the company once it is established. Eiichi agrees to serve as the general representative until the company is organized.
Eiichi prepared draft applications for the organization of a marine insurance company and for the refund of payments made for the purchase of the railroad, work that had been entrusted to him at a meeting held on 18 June. He presented the drafts to the members for deliberation and, on this day, the organization application, jointly signed by Hisamatsu Sadakoto (久松定謨) and 24 others, is submitted to Tokyo Prefectural Governor (東京府知事) Kusumoto Masataka (楠本正隆). On the following day, 20 July, the application for refund of payments made is submitted to Minister of Finance (大蔵卿) Ōkuma Shigenobu (大隈重信).
Previously, Iwasaki Yatarō (岩崎弥太郎) had attempted to manage a marine insurance business, but failed to get government approval. Eiichi thus suggested that Iwasaki join the alliance’s incorporators . Iwasaki replied with the condition that he own one third of the company’s shares. On this day, the incorporators hold a meeting at which they approve Iwasaki’s proposal and decide to increase the company’s capital.
With Iwasaki Yatarō having joined the alliance’s incorporators, the company’s capital was increased from 500,000 yen to 650,000 yen. On this day, an application to organize a marine insurance company is again submitted to Tokyo Prefectural Governor (東京府知事) Kusumoto Masataka (楠本正隆). Approval is granted on 12 December.
On this day, applications for approval of the certificate of organization and articles of association for the company are submitted to the Tokyo prefectural governor (東京府知事). Approval is granted on the 30th of the same month. Accordingly, the company opens for business on 1 August under the name of Tokio Marine Insurance Company (東京海上保険会社), with 600,000 yen in capital, and a head office at 23-banchi, Minami Kayabachō, Nihonbashi-ku. Eiichi and Iwasaki Yatarō become advisors.
Eiichi is elected as a director at the general meeting of shareholders held on this day.
At a general meeting of shareholders held on this day, Eiichi and the other directors try to resign to take responsibility for a slump in business. In accordance with the shareholders’ wishes, however, all the directors are reappointed.
At a general meeting of shareholders held on this day, Eiichi is chosen as the chairman and presides over the meeting. It is decided to increase the capital from 1.2 million yen to 3 million yen.
Previously, in June 1899, the company’s capital had been reduced to 1.5 million, but at a general meeting of shareholders on this day, capital is increased to 3 million yen. Some shareholders object to the method of allocation of 30,000 new shares, but Eiichi wins them over and the allocation is approved.
Having reached his 70th year the previous year, Eiichi decides to retire from his business engagements, with the exception of those at the Dai-Ichi Ginko (第一銀行) and a few others. On this day, he resigns as a director of the company. Attending the general meeting of shareholders held on 8 April of the following year, 1910, Eiichi gives a speech announcing his resignation as a director.
Sub-section 2. Meiji Fire Insurance Co., Ltd. (明治火災保険株式会社)
The Kasai Hokenkai (火災保険会, Fire Insurance Group) is founded by Abe Taizō (阿部泰蔵) and several others. Eiichi is one of the group’s associate members.
Previously, there had been discussion about reorganizing the Kasai Hokenkai (火災保険会, Fire Insurance Group) as a joint-stock company. On this day, the incorporators submit to the Tokyo prefectural governor (東京府知事) a request for permission to found Meiji Fire Insurance Co., Ltd. (明治火災保険株式会社), along with a prospectus and articles of association. Eiichi is one of the incorporators and becomes a shareholder following the establishment of the company.
Sub-section 3. Yokohama Kasai Hoken Kabushiki Kaisha (横浜火災保険株式会社, Yokohama Fire Insurance Co., Ltd.)
Previously, Ono Mitsukage (小野光景) and several others had been working to promote the establishment of Yokohama Kasai Hoken Kabushiki Kaisha (横浜火災保険株式会社, Yokohama Fire Insurance Co., Ltd.) and, on this day, a meeting is held at the Tokyo Bankers’ Association (東京銀行集会所) to discuss the solicitation of incorporators. Eiichi attends and agrees to become an incorporator. Later he is nominated as an organizing managing director and also becomes a shareholder.
Sub-section 4. Nisshin Kasai Hoken Kabushiki Kaisha (日清火災保険株式会社, Nisshin Fire Insurance Co., Ltd.)
Previously, the establishment of Nisshin Kasai Hoken Kabushiki Kaisha (日清火災保険株式会社, Nisshin Fire Insurance Co., Ltd.) had been promoted and, on this day, a meeting of incorporators is held. Eiichi attends and becomes the chairman of the organizing committee. Later an incorporation application and organization application are submitted.
From this day, Eiichi repeatedly attends organizing committee meetings and discusses important matters.
Sub-section 5. Nisshin Seimei Hoken Kabushiki Kaisha (日清生命保険株式会社, Nisshin Life Insurance Co., Ltd.)
Previously, people connected to Waseda University (早稲田大学) had been working to promote the establishment of Nisshin Seimei Hoken Kabushiki Kaisha (日清生命保険株式会社, Nisshin Life Insurance Co., Ltd.). Eiichi was one of the incorporators. On this day an incorporators’ meeting is held and Eiichi attends.
An organizational general meeting for Nisshin Seimei Hoken Kabushiki Kaisha (日清生命保険株式会社, Nisshin Life Insurance Co., Ltd.) is held at the Tokyo Chamber of Commerce (東京商業会議所). Eiichi is named as an advisor.
Having reached his 70th year the previous year, Eiichi decides to retire from his business engagements, with the exception of those at the Dai-Ichi Ginko (第一銀行) and a few others. He resigns as an advisor to the company on this day.
Sub-section 6. Banzai Seimei Hoken Kabushiki Kaisha (万歳生命保険株式会社, Banzai Life Insurance Co., Ltd.)
Previously, Fujimura Yoshitane (藤村義苗) and several others had been working to promote the establishment of Banzai Seimei Hoken Kabushiki Kaisha (万歳生命保険株式会社, Banzai Life Insurance Co., Ltd.). The company opened for business on 31 August 1906 (Meiji 39). On this day, Eiichi agrees to become an advisor.
On this day, Eiichi attends a meeting of executives. A resolution to increase the company’s capital is made at the general meeting held the following month, on 26 February.
Having reached his 70th year the previous year, Eiichi decides to retire from his business engagements, with the exception of those at the Dai-Ichi Ginko (第一銀行) and a few others. He resigns as an advisor on this day.
Sub-section 7. Tōmei Kasai Kaijō Hoken Kabushiki Kaisha (東明火災海上保険株式会社, Tōmei Fire and Marine Insurance Co., Ltd.)
Previously, persons connected with Tokio Marine Insurance (東京海上保険株式会社) and Meiji Fire Insurance (明治火災保険株式会社) had been working to promote the establishment of Tōmei Kasai Kaijō Hoken Kabushiki Kaisha (東明火災海上保険株式会社, Tōmei Fire and Marine Insurance Co., Ltd.) as a reinsurance company for the two corporations. On this day, an organizational general meeting is held and Eiichi takes office as a director.
Having reached his 70th year the previous year, Eiichi decides to retire from his business engagements, with the exception of those at the Dai-Ichi Ginko (第一銀行) and a few others. He resigns as a director of the company on this day.
Sub-section 8. Meikyō Hoken Kabushiki Kaisha (明教保険株式会社, Meikyō Insurance Co., Ltd.)
Previously, a dispute had arisen among executives of Meikyō Hoken Kabushiki Kaisha (明教保険株式会社, Meikyō Insurance Co., Ltd.). Eiichi and Hamaoka Kōtetsu (浜岡光哲) had been entrusted with arbitrating. This month, their arbitration decision is handed down and it is suggested that a settlement be obtained through the sale of stock.
Section 5. Other Financial Institutions and Financial Issues
Sub-section 1. Trusts
Previously, from the mid-1890s, Eiichi had been interested in the trust industry. When his heir, Shibusawa Tokuji (渋沢篤二), and Hozumi Nobushige (穂積陳重) had gone to the United States and Europe in July 1899, he had assigned Hozumi the task of researching the trust industry in the United States. Furthermore, when Takagi Masayoshi (高木正義), a Dai-Ichi Ginko (第一銀行) employee, had gone to the United Sates in 1900, Eiichi had assigned him the same task. Eiichi had thus made efforts to research the trust industry and, this month, at a meeting of the Kin’yōkai (金曜会, Friday Club), Eiichi gives a speech on the subject. Then, in January 1902, he has useful discussions on the trust industry with two Americans, Tison and Miller [?].
Sub-section 2. Nichi-Ei Kin’yū Shōkai (日英金融商会, Japanese-British Financial Company)
The Nichi-Ei Kin’yū Shōkai (日英金融商会, Japanese-British Financial Company), established in London in September of the previous year [1905], sets up a branch in Tokyo and opens for business on this day. Eiichi is a counselor.
Sub-section 3. International Foreign Exchange Issues
Dr. Jenks, a professor of economics at Cornell University and a member of the U.S. Commission on International Exchange, is to visit to negotiate with Japan on matters of international foreign exchange. In preparation, this month the government organizes conferences for chosen representatives of the public and private sectors. Eiichi attends several meetings.
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