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Table of Contents - Volume 13
Book 2. Building the Japanese Economy and Contributing to Public and Social Works (1873-1909)
Part 1. Business and the Economy
Chapter 3. Commerce and Industry
Section 22. Electricity
Sub-section 1. Tōkyō Dentō Kabushiki Kaisha (東京電灯株式会社, Tokyo Electric Light Co., Ltd.)
Previously, Yajima Sakurō (矢嶋作郎), Hara Rokurō (原六郎), Ōkura Kihachirō (大倉喜八郎), and three others had attempted to operate the first electric light supply business in Japan at the urging of Fujioka Ichisuke (藤岡市助), a student at the Imperial College of Engineering (工部大学). Agreeing to their request to become an incorporator, Eiichi helped to organize the company. On this day, they submit a company organization application to Tokyo Prefectural Governor Matsuda Michiyuki (松田道之) and Minister of Home Affairs (内務卿) Yamada Akiyoshi (山田顕義). Ōkura Kihachirō, Yokoyama Magoichirō (横山孫一郎), and others had been working on a plan for arc lamps so they agree to join together and submit an application on 14 December of this year to establish Tōkyō Dentō Kaisha (東京電灯会社, Tokyo Electric Light Company) with 200,000 yen in capital. Authorization is granted on 16 February of the following year and the company opens for business on 5 July 1886.
On this day, Eiichi becomes a committee member for the company and serves in the post until 24 February 1890.
Previously, the company had merged with Nippon Dentō Kaisha (日本電灯会社, Japan Electric Light Company) and was renamed Dai-Nippon Yūgen Sekinin Tōkyō Dentō Kaisha (大日本有限責任東京電灯会社, Great Japan Tokyo Electric Light Limited Liability Company). On this day, Eiichi is elected advisor at an extraordinary general meeting of shareholders. He resigns the post the following year, on 15 February 1891.
Sub-section 2. Hiroshima Suiryoku Denki Kabushiki Kaisha (広島水力電気株式会社, Hiroshima Hydroelectric Co., Ltd.)
Previously, influential figures in Hiroshima city, including Matsumoto Seisuke (松本清助), Matsumoto Manbee (松本万兵衛), and Nomura Tamotsu (野村保), had decided to start an electricity business in the area and asked Eiichi for assistance. Eiichi thus became an incorporator along with Umeura Seiichi (梅浦精一), Asano Sōichiro (浅野総一郎), Ōkura Kihachirō (大倉喜八郎), Ōkawa Heizaburō (大川平三郎), and others. On this day, an organizational general meeting is held at the Tokyo Bankers' Association (東京銀行集会所). Eiichi is chosen as a director and also takes on the post of chairman of the board of directors. Business begins on 11 May 1899.
This month, Eiichi resigns as the chairman of the board of directors of the company. He then becomes an advisor, but resigns on 6 June 1909. During this time, he makes considerable efforts on behalf of the company.
Sub-section 3. Tōkyō Suiryoku Denki Kabushiki Kaisha (東京水力電気株式会社, Tokyo Hydroelectric Co., Ltd.)
Tomita Tetsunosuke (富田鉄之助), Eiichi, and 23 others, have been planning the establishment of Tōkyō Suiryoku Denki Kabushiki Kaisha (東京水力電気株式会社, Tokyo Hydroelectric Co., Ltd.) with 3 million yen of capital and the goal of supplying electric lighting and power to Tokyo and Yokohama by using the water of the Fukara River in Shizuoka prefecture, the Nakatsu River in Kanagawa prefecture, and the Katsura River in Yamanashi prefecture and installing hydroelectric power plants in five locations. On this day, they submit an incorporation application to Minister of Agriculture and Commerce (農商務大臣) Count Ōkuma Shigenobu (大隈重信) and Minister of Communications (逓信大臣) Viscount Nomura Yasushi (野村靖). Later, the company is formed and Eiichi is recommended as an advisor. However, the company never reaches the point of opening for business.
Sub-section 4. Tōkyō Denryoku Kabushiki Kaisha (東京電力株式会社, Tokyo Electric Power Co., Ltd.)
Eiichi, Yasuda Zenjirō (安田善次郎), Ōkura Kihachirō (大倉喜八郎), Asano Sōichirō (浅野総一郎), and others had been planning to establish Tōkyō Denryoku Kabushiki Kaisha (東京電力株式会社, Tokyo Electric Power Co., Ltd.) with 6 million yen of capital, through the merger of Tōkyō Suiryoku Denki Kabushiki Kaisha (東京水力電気株式会社, Tokyo Hydroelectric Co., Ltd.) and Busō Denryoku Kabushiki Kaisha (武相電力株式会社, Busō Electric Power Co., Ltd.) with the goal of supplying Tokyo with affordable and abundant electric power. On this day, an incorporators' meeting is held at the Imperial Hotel (帝国ホテル) and the business of organization is discussed. Eiichi and seven others are elected as members of the organizing committee and Asada Tokunori (浅田徳則) becomes the chairman as the result of an internal vote. An organizational general meeting is held at the Tokyo Bankers' Association (東京銀行集会所) on 13 September of the following year. Eiichi is elected as a director. On 1 July 1907, the company is acquired by Tōkyō Dentō Kabushiki Kaisha (東京電灯株式会社, Tokyo Electric Light Co., Ltd.) and dissolved.
Sub-section 5. Nagoya Denryoku Kabushiki Kaisha (名古屋電力株式会社, Nagoya Electric Power Co., Ltd.)
On this day, the company holds an organizational general meeting at the Nagoya Shōgyō Kaigisho (名古屋商業会議所, Nagoya Chamber of Commerce) and elections of executives are carried out. Eiichi is nominated to serve as an advisor. He resigns the post in August 1908.
Sub-section 6. Nichi-Ei Suiryoku Denki Kabushiki Kaisha (日英水力電気株式会社, Anglo-Japanese Hydroelectric Co., Ltd.)
Previously, in February 1906, Sonoda Kōkichi (園田孝吉), Count Soejima Michimasa (副島道正), and others had been planning to start up a hydroelectric business in Japan through a joint Anglo-Japanese venture together with a syndicate consisting of the White Company (ホワイト商会) of Britain and two or three other investors. As a result of an investigation, the Ōi River was found to be promising and its water rights were obtained. Moving forward, water rights were acquired from the aforementioned joint Anglo-Japanese company and more incorporators were added in an effort to organize Nichi-Ei Suiryoku Denki Kabushiki Kaisha (日英水力電気株式会社, Anglo-Japanese Hydroelectric Co., Ltd.). On this day, businessmen from the Tokyo-Yokohama region are invited to the Mitsui Shūkaijo (三井集会所, Mitsui Assembly Hall) for a company establishment conference. Eiichi attends the meeting at the invitation of Marquis Matsukata (松方) and Marquis Inoue (井上) and becomes an organizing incorporator. After this, Eiichi participates in the preparations as a member of the organizing committee until June 1909 and exerts himself in many ways. However, problems arose with obtaining the needed funding, construction arrangements, and elsewhere. It is not realized and is dissolved.
Sub-section 7. Various Materials on Related Hydroelectric Companies
1. Arakawa Suiryoku Denki (荒川水力電気, Arakawa Hydroelectric)
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2. Tokiwa Suiryoku Denki Kabushiki Kaisha (常磐水力電気株式会社, Tokiwa Hydroelectric Co., Ltd.)
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Section 23. Civil Engineering and Harbor Construction
Sub-section 1. Land Reclamation in Takashima-chō, Yokohama
Previously, Takashima Kaemon (高島嘉右衛門) had reclaimed land along the coast between Yokohama and Kanagawa. On this day, Eiichi sends a letter to Minister of Finance (大蔵卿) Ōkuma Shigenobu (大隈重信) suggesting that the government cover some of the expenses incurred and exempt the reclaimed land from taxation.
Sub-section 2. Nobiru Chikkō Kaisha (野蒜築港会社, Nobiru Harbor Construction Company)
At the urging of Minister of Home Affairs (内務卿) Ōkubo Toshimichi (大久保利通), the government decided to construct a major commercial port city in Nobiru, Monō district, Miyagi prefecture. Construction work on the harbor began this month. Eiichi made plans with Shibusawa Kisaku (渋沢喜作), Totsuka Teisuke (戸塚貞輔), and others to acquire land in the area and build and manage warehouses and other buildings. The government cancels its port construction project, however, and Eiichi and the others abandon their plans.
Sub-section 3. Nippon Doboku Kaisha (日本土木会社, Japan Civil Engineering Company)
Along with Ōkura Kihachirō (大倉喜八郎) and Fujita Denzaburō (藤田伝三郎), Eiichi becomes a representative incorporator and tries to establish Yūgen Sekinin Nippon Doboku Kaisha (有限責任日本土木会社, Japan Civil Engineering Limited Liability Company), a civil engineering and construction contracting business. An organization application is submitted to Tokyo Prefectural Governor Baron Takasaki Goroku (高崎五六) on 14 March. The application is approved on this day [17 March] and the company opens for business on 2 April, with 2 million yen of capital and headquarters at 1-banchi, Yariya-chō, Kyōbashi ward, Tokyo. Eiichi becomes the committee chairman.
It had been decided to dissolve the company in October of the previous year. On this day, a notice of dissolution is submitted to Tokyo Prefectural Governor Miura Yasushi (三浦安).
Sub-section 4. Inbanuma Excavation Project
On this day, Oda Kanshi (織田完之), who had been focused on an excavation project at Inbanuma, visits Eiichi to give a detailed account of the project's progress from its conception to the present. Completely in favor of the project, Eiichi joins the Taimeikai [?] (大明会), a group organized by Oda and others, by signing and placing his seal in the directory.
On this day, Eiichi meets with Ono Gishin (小野義真), Takashima Kaemon (高島嘉右衛門), Kinpara Meizen (金原明善), Oda Kanshi (織田完之), and others at the Hamachō Tokiwaya. They discuss the Inbanuma excavation project. Later, Eiichi advises that to ensure the most efficient overall use of water they should have de Rijke, a Dutch engineer with the Ministry of Home Affairs (内務省), do a careful survey before they move ahead with their plans. All those present agree with his advice. Then, on 25 December, Eiichi meets with Vice Minister of Home Affairs (内務次官) Yoshikawa Akimasa (芳川顕正) to request that de Rijke be sent to work on the Inbanuma excavation project. On 25 March 1889, the Ministry of Home Affairs sends de Rijke to Chiba prefecture. He travels around the area and returns to Tokyo on the 30th of the same month, upon which he submits a report. On 9 June, the Japanese translation, entitled “Inba unga keikaku hōkoku” (Report on the Inba Canal Plan), is completed.
On this day, Eiichi meets with Narahara Shigeru (奈良原繁), Takashima Kaemon (高島嘉右衛門), Ono Gishin (小野義真), Kinpara Meizen (金原明善), Oda Kanshi (織田完之), and Suzuki Yasutake (鈴木安武) at the Kanda Kaikarō. They discuss the Inbanuma excavation project and decide on the preparation of a budget and on the matter of jointly signing an application to borrow Inbanuma and Teganuma. Then, on the 27th, Eiichi and the others affix their seals to the application and it is submitted to the Chiba prefectural government.
On this day, Eiichi sends a letter to Oda (織田) and notifies him that the matter of recruiting members will not proceed until after Furuichi Kōi (古市公威) has toured the actual site. After that, due to a referral from Narahara (奈良原), Furuichi consents to an on-site survey of Inbanuma and, from 29 December through 1 January of the following year, he visits the area.
On this day, Eiichi meets with Oda (織田) and the others at the Kakigara-chō Yūrakukan to discuss the project. Then, on 28 May of the same year, Oda sends Eiichi and others an expense report related to the project and a budget for expenditures to cover the work remaining on the survey of Inbanuma. Thus, Eiichi delivers funds to Tōri Kawaseten (東里為替店, Tōri Exchange Shop).
On this day, Oda (織田) visits Eiichi to discuss the future of the Inbanuma excavation project.
Eiichi advises requesting Furuichi (古市) to tour the area again and not moving ahead until after a solid basis for the project has been secured. Later, as a result of Narahara (奈良原) and Eiichi consulting Furuichi, they have Shimizu Wataru (清水済), a doctor in engineering, sent from the Ministry of Home Affairs (内務省) to draw up designs. Having received instructions, Shimizu makes this the subject of the graduation thesis of Kōka Daigaku (工科大学, College of Engineering) student Noda Mutsuji (野田六次) and the college sends Noda to the area to conduct a survey. In September 1892, Noda's thesis is completed, under the title of “Inba unga keikakusho” (Inba Canal Plan). With the completion of the designs for the Inbanuma excavation, Oda considers the project to have reached a milestone and puts together a historical record of the project.
Sub-section 5. Moji Chikkō Kaisha (門司築港会社, Moji Harbor Construction Company)
Previously, as plans to build a railway in Kyushu had progressed, it became necessary to build a port at the starting point in Moji, Kiku district, Fukuoka prefecture. At first, the prefectural authorities took on the planning of this, but they had some troubles with the payment of expenses. Saitō Michihiko [?] (斎藤美知彦) and other interested individuals from the six districts of Buzen [parts of present-day Fukuoka and Oita prefectures] consulted and decided to try to run the project together as a company enterprise. Consulting with Eiichi, Ōkura Kihachirō (大倉喜八郎), and others, they organize a joint stock company this month [March 1889] with 250,000 yen in capital. Eiichi serves as an advisor to the company.
Sub-section 6. Wakamatsu Chikkō Kabushiki Kaisha (若松築港株式会社, Wakamatsu Harbor Construction Co., Ltd.)
Eiichi supports the organization of Wakamatsu Chikkō Kabushiki Kaisha (若松築港株式会社, Wakamatsu Harbor Construction Co., Ltd.), which Ishino Kanpei (石野寛平) and other locals propose for the purpose of rebuilding and dredging the harbor at Wakamatsu Port, Onga district, Fukuoka prefecture. Eiichi becomes a shareholder and takes on the post of advisor. He resigns as an advisor in October 1904.
Sub-section 7. Tōyō Shunsetsu Kabushiki Kaisha (東洋浚渫株式会社, Tōyō Dredging Co., Ltd.)
Tōyō Shunsetsu Kabushiki Kaisha (東洋浚渫株式会社, Tōyō Dredging Co., Ltd.) was organized as a result of a proposal by Matsuda Gengorō (松田源五郎), Kimura Kusuyata (木村久寿弥太), and others for the purpose of undertaking contracts to dredge rivers and harbors and reclaim land. Supporting the organization of the company, Eiichi becomes a shareholder.
Sub-section 8. Ōfunato Chikkō Tetsudō Kabushiki Kaisha (大船渡築港鉄道株式会社, Ōfunato Harbor Construction Railway Co., Ltd.)
Previously, in order to further the development of the Ōu region [present-day Aomori, Akita, Iwate, Yamagata, Miyagi, and Fukushima prefectures], Eiichi had planned, with Amemiya Keijirō (雨宮敬次郎) and others, to build a railway in the Ōfunato area of Iwate prefecture and also to organize an iron manufacturing and dock business. On this day, Eiichi becomes a member of the organizing committee of Ōfunato Chikkō Tetsudō Kabushiki Kaisha (大船渡築港鉄道株式会社, Ōfunato Harbor Construction Railway Co., Ltd.). On 16 October, he is nominated to serve as the committee chairman. After that, he uses his influence with government authorities in various ways, starting with applying for government subsidies, but he resigns his post in June 1909.
Section 24. Land Companies
Sub-section 1. Hakodate Tochi Gōshi Kaisha (函館土地合資会社, Hakodate Land Limited Partnership Company)
Eiichi forms Hakodate Tochi Gōshi Kaisha (函館土地合資会社, Hakodate Land Limited Partnership Company) together with Ōkura Kihachirō (大倉喜八郎), Umeura Seiichi (梅浦精一), and others.
Section 25. Exchanges
Sub-section 1. Tokyo Stock Exchange (東京株式取引所)
On this day, Paper Money Bureau Director (紙幣頭) Yoshikawa Akimasa (芳川顕正) writes Eiichi to ask him to read a recently completed translation on the operation of stock exchanges and to study the subject further. Eiichi has Fukuchi Gen'ichirō (福地源一郎) do research on the matter and works unstintingly with the authorities to set up an exchange. The Stock Exchange Ordinance is issued on 13 October 1874.
Previously, the buying and selling of government bonds had been increasing daily. At the same time, factors such as the spread of national banks following the revision of the National Bank Ordinance in August 1876 and the outbreak of the Satsuma Rebellion in February 1877 led to a sharp increase in supply and demand, which brought about calls for the establishment of an open market as quickly as possible to facilitate transactions. At this point in time, Eiichi and others proposed revising the Stock Exchange Ordinance while also applying for permission to organize a stock exchange in Tokyo. On this day, they receive authorization from Minister of Finance (大蔵卿) Ōkuma Shigenobu (大隈重信). However, they are told to wait for a later directive on articles of incorporation and bylaws, which were to be subject to further discussion.
The Tokyo Stock Exchange (東京株式取引所) opens for business. Previously, as Eiichi and others had obtained authorization to organize the stock exchange and had been preparing for inauguration, the new Stock Exchange Ordinance was issued on 4 May of this year. Authorities from the Ministry of Finance (大蔵省) notified Eiichi and others on 7 May that it had rejected the articles of incorporation, bylaws, and other documents filed earlier and that they should apply again, in compliance with the new ordinance. They reapplied on 10 May and on this day [1 June 1878], Japan's first stock exchange finally opens in Kabuto-chō in the Nihonbashi district of Tokyo with 200,000 yen in capital.
Previously, Eiichi had often attended general meetings of shareholders as a shareholder and de facto advisor and had otherwise worked hard in the interests of the exchange. On this day, he attends an extraordinary general meeting of shareholders of the Tokyo Stock Exchange (東京株式取引所). At the meeting, President Shibusawa Kisaku (渋沢喜作), Kimoiri (肝煎, Official) Fukuchi Gen'ichirō (福地源一郎), Kimoiri Kobayashi Naoemon (小林猶右衛門), and Kimoiri and Manager Kurihara Hitsu (栗原必), who had long been supported by Eiichi and others, resign en bloc. Perhaps it was because, with the authorities' control of speculation starting in the spring of this year, many transferred their shares, which caused changes in the shareholder community. Around this time Eiichi also gradually sells his shares, and by the first half of 1881 is no longer a large shareholder.
Eiichi requests the Tokyo Stock Exchange (東京株式取引所) to provide printed copies of the complete set of bylaws, articles of incorporation, arranged rules, and all other related regulations whenever they are revised or updated.
The establishment of a member-organized joint stock market had been a long-standing ambition of Eiichi's. Since the time was now ripe, he consulted with Ōkura Kihachirō (大倉喜八郎), Masuda Takashi (益田孝), and others and they worked on draft plans. On this day, the draft is completed and Eiichi informs Vice Minister of Agriculture and Commerce (農商務次官) Yoshida Kiyonari (吉田清成).
Previously, since the second half of 1881, Eiichi had been a stockholder with ten shares, but this month, with a view to reforming the exchange system in Japan, he sells all of the shares he owns and severs his ties with the exchange.
With the completion of an investigation by authorities from the Ministry of Agriculture and Commerce (農商務当局) into the establishment of a joint stock market, Vice Minister (次官) Yoshida Kiyonari (吉田清成) decided to ask for advice from influential businessmen in the prefecture. Prior to that, he had extended an invitation to Eiichi to have an unofficial discussion. Eiichi agrees on this day. Since the Ministry of Agriculture and Commerce had completed a draft of the Commodity Exchange Ordinance on the 14th of this month, the draft may have been shown to him.
On this day, together with Masuda Takashi (益田孝), Ōkura Kihachirō (大倉喜八郎), Iwasaki Yanosuke (岩崎弥之助), Kawasaki Hachiemon (川崎八右衛門), and other influential businessmen in the prefecture, Eiichi is invited by Vice Minister of Agriculture and Commerce (農商務次官) Yoshida Kiyonari (吉田清成) to a gathering at the vice minister's official residence and consulted on the establishment of a joint stock market. The consultation may have been about the draft Commodity Exchange Ordinance.
Eiichi meets with Masuda Takashi (益田孝), Iwasaki Yanosuke (岩崎弥之助), Kawasaki Hachiemon (川崎八右衛門), Hara Rokurō (原六郎), and the other influential Tokyo-based businessmen who had previously been consulted by Vice Minister of Agriculture and Commerce (農商務次官) Yoshida Kiyonari (吉田清成) on the establishment of a joint stock market. They meet at the Bankers' Association (銀行集会所) in Sakamoto-chō, Nihonbashi district, and discuss their response. This is presumably about the draft Commodity Exchange Ordinance. In November of this year, the draft Commodity Exchange Ordinance worked out by the Ministry of Agriculture and Commerce is introduced at a Cabinet meeting.
On this day, together with Masuda Takashi (益田孝) and Ōkura Kihachirō (大倉喜八郎), Eiichi had plans to meet with Vice Minister of Agriculture and Commerce (農商務次官) Yoshida Kiyonari (吉田清成), but it does not happen due to illness. The objective of the meeting is unclear, but it might have been related to the necessity of making changes to the draft, previously composed with the opinions of Eiichi and others, of the Commodity Exchange Ordinance to be introduced to a Cabinet meeting by the Ministry of Agriculture and Commerce. Or it might have been related to the fact that the draft ordinance was further deliberated upon and modified at the start of this year and then re-submitted on 28 February.
The Exchange Ordinance is issued on this day. Consequently, Eiichi, together with Shibusawa Kisaku (渋沢喜作), Hara Rokurō (原六郎), Ōkura Kihachirō (大倉喜八郎), Yasuda Zenjirō (安田善次郎), Minomura Risuke (三野村利助), Nishimura Torashirō (西村虎四郎), Kawasaki Hachiemon (川崎八右衛門), and others, becomes an incorporator and sends invitations to influential merchants in Tokyo with the intention of holding a stock exchange organizational meeting at the Bankers' Association (銀行集会所) in Sakamoto-chō on the 17th.
Previously, merchants and others involved with the Tokyo Stock Exchange (東京株式取引所) and the Tokyo Rice Trading Exchange (東京米商会所) had decided to organize a new exchange. Since this created confrontation with Eiichi's group, Vice Minister of Agriculture and Commerce (農商務次官) Yoshida Kiyonari (吉田清成) urged cooperation. On this day, Tokyo Stock Exchange Advisor Tanimoto Michiyuki (谷元道之) and Kimoiri (肝煎, Director) Nakano Buei (中野武営) visit Eiichi's residence, where they discuss and agree on the two groups making a joint application.
On this day, Eiichi and seven others become incorporators and 125 merchants and others from Tokyo assemble at the Bankers' Association (銀行集会所) in Sakamoto-chō. Eiichi is the representative incorporator and chairman. Various matters are approved at the meeting including the matter of the organization of an exchange through a merger of the groups from the Tokyo Stock Exchange (東京株式取引所) and the Tokyo Rice Trading Exchange (東京米商会所) and the matter of the selection of members of the exchange's organizing committee being referred to the incorporators.
Eiichi meets with Tokyo Stock Exchange (東京株式取引所) President Kōno Togama (河野敏鎌) and Tokyo Rice Trading Exchange (東京米商会所) President Hayakawa Isamu (早川勇) on the upper floor of the Dai-Ichi Kokuritsu Ginkō (第一国立銀行, First National Bank) building and discusses the organization of the exchange. Thereafter the three become representative organizing incorporators, add a few more committee members, and decide to carry out various other preparations.
Together with Tokyo Stock Exchange (東京株式取引所) President Kōno Togama (河野敏鎌) and Tokyo Rice Trading Exchange (東京米商会所) President Hayakawa Isamu (早川勇), Eiichi becomes an incorporator and holds a meeting at the Bankers' Association (銀行集会所) in Sakamoto-chō regarding the establishment of the exchange. Shibusawa Kisaku (渋沢喜作), Ōkura Kihachirō (大倉喜八郎), Kawasaki Hachiemon (川崎八右衛門), Tanimoto Michiyuki (谷元道之), Asabuki Eiji (朝吹英二), Nakano Buei (中野武営), Nakamura Michita (中村道太), Ogawa Tamejirō (小川為次郎), and others attend and discuss questions concerning the Exchange Ordinance.
Previously, on the first day of this month, regulations for the enforcement of the Exchange Ordinance had been issued. Thus, Eiichi meets with Ōkura Kihachirō (大倉喜八郎), Minomura Risuke (三野村利助), Nakano Buei (中野武営), Asabuki Eiji (朝吹英二), Hayakawa Isamu (早川勇), Ogawa Tamejirō (小川為次郎), and others at the Bankers' Association (銀行集会所) in Sakamoto-chō on this day and discusses trading laws related to the organization of the exchange, fundraising methods to cover costs of organizing the exchange, and other subjects. Nakano Buei and Ogawa Tamejirō are appointed as bylaws drafters and Shibusawa Kisaku (渋沢喜作) and Asabuki Eiji as draft advisors.
Previously, some members of the organizing committee for the new exchange, including Kōno (河野), Nakano (中野), and Ogawa (小川), had been assigned to investigate questions concerning the Exchange Ordinance and regulations for its enforcement. Their investigation almost finished, on this day Eiichi meets with Shibusawa Kisaku (渋沢喜作), Ōkura Kihachirō (大倉喜八郎), Yasuda Zenjirō (安田善次郎), Tanimoto Michiyuki (谷元道之), Nakano Buei (中野武営), Asabuki Eiji (朝吹英二), Nakamura Michita (中村道太), Hayakawa Isamu (早川勇), Ogawa Tamejirō (小川為次郎), and others at the Bankers' Association (銀行集会所) in Sakamoto-chō and asks questions of and exchanges opinions with Ministry of Agriculture and Commerce (農商務省) officials present at the meeting.
On this day, Eiichi meets with Shibusawa Kisaku (渋沢喜作), Yasuda Zenjirō (安田善次郎), Kōno Togama (河野敏鎌), Nakano Buei (中野武営), Ogawa Tamejirō (小川為次郎), Asabuki Eiji (朝吹英二), Nakamura Michita (中村道太), and others at the Bankers' Association (銀行集会所) in Sakamoto-chō and discusses, among other things, the draft application for the organization of the Tōkyō Torihikijo (東京取引所, Tokyo Exchange).
On this day, Eiichi and 13 others become incorporators and meet with 100 or so Tokyo merchants at the Bankers' Association (銀行集会所) in Sakamoto-chō about the organization of the Tōkyō Torihikijo (東京取引所, Tokyo Exchange). Eiichi is the representative incorporator and chairman. At the meeting they discuss and decide on, among other things, a draft of the application to organize the exchange and the selection of organizing committee members.
On this day, at the Bankers' Association (銀行集会所) in Sakamoto-chō, Eiichi and other Tokyo merchants add their names to and sign the application to organize the Tōkyō Torihikijo (東京取引所, Tokyo Exchange).
Eiichi and others have the head of Nihonbashi ward affix his seal to the application to organize the Tōkyō Torihikijo (東京取引所, Tokyo Exchange) and submit the application to the Ministry of Agriculture and Commerce (農商務省) via the Tokyo prefectural authorities. Permission is granted on 1 August.
Previously, on 28 July, Tokyo Stock Exchange (東京株式取引所) President Kōno Togama (河野敏鎌) had submitted to Tokyo Prefectural Governor Takasaki Goroku (高崎五六) an operations extension petition from representative shareholders addressed to the minister of agriculture and commerce (農商務大臣). On this day, the Tōkyō Torihikijo (東京取引所, Tokyo Exchange) reports to Governor Takasaki, listing Eiichi and 14 others as members of the organizing committee.
Eleven members of the Tōkyō Torihikijo (東京取引所, Tokyo Exchange) organizing committee, including Eiichi, gather at the provisional organizing office. They discuss matters investigated and agreed upon at the drafting committee meeting on 3 August, implementation details to be raised by the drafting committee members with the authorities, and other related matters.
The organization of the Tōkyō Torihikijo (東京取引所, Tokyo Exchange) has not progressed because integration with the currently operating stock and rice exchanges has been slow. Concerned about this, former Minister of Agriculture and Commerce (農商務大臣) Hijikata Hisamoto (土方久元) encourages Eiichi to make an even greater effort. On this day, Eiichi, in a private capacity, invites Kōno Togama (河野敏鎌), Ōkura Kihachirō (大倉喜八郎), Kawasaki Hachiemon (川崎八右衛門), Yasuda Zenjirō (安田善次郎), Asabuki Eiji (朝吹英二), Sano Tsuneki (佐野常樹), and Aoki Teizō (青木貞三) to the Bankers' Association (銀行集会所) and discusses how to integrate the new and old exchanges. However, the authorities have not yet made clear their explanation of questions on the Exchange Ordinance and regulations for its enforcement, so the meeting is adjourned without any decisions being made.
Members of the Tōkyō Torihikijo (東京取引所, Tokyo Exchange) bylaws drafting committee had previously asked the Ministry of Agriculture and Commerce (農商務省) questions about the Exchange Ordinance and regulations for its enforcement to be used as reference when compiling the bylaws. Having finally received a directive on the 13th of this month, a drafting committee meeting was held on the 19th. Then, on this day [21 October], ten members of the organizing committee, including Eiichi, meet at the provisional organizing office. However, not only is the directive pointlessly strict but the policy of the Ministry of Agriculture and Commerce on the exchange issue also changed due to personnel transfers. On the 19th of this month, Commerce Bureau Vice Chief (商務局次長) Sano Tsuneki (佐野常樹) and others previously appointed as Tōkyō Torihikijo committee members were dismissed and then, on this day [21 October], the Tokyo Stock Exchange (東京株式取引所) is authorized to continue operations. These and other things mean that it is not necessarily advantageous to push ahead with preparations for organization. It is therefore decided to observe the situation for a while and wait for the provisional rules to be announced.
Since standards for exchange bylaws, which the Tōkyō Torihikijo (東京取引所, Tokyo Exchange) bylaws drafting committee had previously requested the Ministry of Agriculture and Commerce (農商務省) to issue, have finally been issued, a drafting committee meeting was held on the 17th of this month. Then, on this day [24 November], five members of the organizing committee, including Eiichi, gather at the provisional organizing office and discuss the standards article by article.
On this day, Eiichi organizes a meeting at the Bankers' Association (銀行集会所) of 11 leading merchants from Tokyo and Osaka. They have an informal discussion on current commercial affairs and also touch on the subject of the exchange. Then Eiichi attends several meetings of the Tōkyō Torihikijo (東京取引所, Tokyo Exchange) organizing committee and uses his influence extensively. During this time, Minister of Agriculture and Commerce (農商務大臣) Kuroda Kiyotaka (黒田清隆) consults with Eiichi in particular.
On this day, Eiichi attends a New Year's banquet for the Tokyo Stock Exchange (東京株式取引所).
On this day, Eiichi and several other members of the Tōkyō Torihikijo (東京取引所, Tokyo Exchange) organizing committee gather at the provisional organizing office and discuss the draft of an opinion statement about the standards for exchange bylaws previously issued by the authorities.
Based on these discussions the wording is adjusted at a drafting committee meeting on the 12th of the same month and the statement is delivered to Minister of Agriculture and Commerce (農商務大臣) Kuroda Kiyotaka (黒田清隆) on the 21st.
Interim Minister of Agriculture and Commerce (農商務大臣) Enomoto Takeaki (榎本武揚) summons Eiichi and indicates, with tags, which parts of the standards for exchange bylaws, previously submitted by members of the Tōkyō Torihikijo (東京取引所, Tokyo Exchange) organizing committee, were approved or rejected. He also urges Eiichi to follow the intent of the Exchange Ordinance and bring the new exchange into operation as quickly as possible.
Eiichi and several other members of the Tōkyō Torihikijo (東京取引所, Tokyo Exchange) (organizing) committee gather at the provisional organizing office and discuss, article by article, the directive from the former interim Minister of Agriculture and Commerce (農商務大臣) Enomoto Takeaki (榎本武揚) concerning their statement on the standards for exchange bylaws. They find it too rigid and decide to have Eiichi inform the new Minister of Agriculture and Commerce Inoue Kaoru (井上馨) that it will be absolutely impossible to start the exchange if their statement is not fully approved.
The new minister of agriculture and commerce (農商務大臣), Inoue Kaoru (井上馨), had no intention of immediately reforming the country's exchange system. However, the Ōsaka Torihikijo (大阪取引所, Osaka Exchange) had already obtained permission to organize from previous officials and, since it is ready to open for business, does not agree to policy changes by the authorities. Therefore, on this day, Inoue Kaoru invites representatives from new and old exchanges in various regions to the Ministry of Agriculture and Commerce and a discussion is held on what action to take with regard to the Ōsaka Torihikijo. Eiichi is invited, but does not attend. No decision is made on this day. They meet again the following day, the 11th, at a branch of the Fujita-gumi (藤田組, Fujita Group) and reach a compromise to delay the opening of the Ōsaka Torihikijo until either the expiration of the authorized term of operation for the old exchanges or the revision of the Exchange Ordinance, provided that the expenses of organizing the Ōsaka Torihikijo would be paid by the Tokyo and Osaka stock and rice exchanges. Following a resolution at a general meeting of the Ōsaka Torihikijo on the 30th of this month, official approval is issued on 3 October to extend the operation of the Tokyo Stock Exchange (東京株式取引所) and three other exchanges until 30 June 1891.
On this day, Eiichi attends a New Year's banquet for the Tokyo Stock Exchange (東京株式取引所).
On this day, Minister of Agriculture and Commerce (農商務大臣) Inoue Kaoru (井上馨) invites Eiichi and several other members of the Tōkyō Torihikijo (東京取引所, Tokyo Exchange) organizing committee to his residence and urges sending personnel to observe exchange operations in Europe and North America. Perhaps the objective would be for them to study exchanges overseas and contribute to the revision of the Exchange Ordinance and regulations for its enforcement prior to the expiration of the existing exchanges. Eiichi and the others agree and decide to send one person.
On this day, Eiichi and several other members of the Tōkyō Torihikijo (東京取引所, Tokyo Exchange) organizing committee meet at the provisional organizing office and decide to send committee member Ogawa Tamejirō (小川為次郎) to observe exchanges abroad.
On this day, Eiichi and several other members of the Tōkyō Torihikijo (東京取引所, Tokyo Exchange) organizing committee meet at the provisional organizing office and discuss matters including travel expenses for committee member Ogawa Tamejirō's (小川為次郎) trip to observe exchanges abroad.
On this day, Eiichi and several other members of the Tōkyō Torihikijo (東京取引所, Tokyo Exchange) organizing committee meet at the provisional organizing office and listen to a report by committee member Ogawa Tamejirō (小川為次郎), who has returned from his trip to observe exchanges abroad.
Eiichi pays a visit to Commerce and Industry Bureau Director (商工局長) Kiuchi Jūshirō (木内重四郎) at the Ministry of Agriculture and Commerce (農商務省). As Director Kiuchi will soon be leaving on a business trip overseas, they talk about the exchange system and various other points that need to be investigated.
Bureau Director Kiuchi's (木内) reform of the exchanges had already been carried out, but resulted in great confusion in the business community. Initially, Eiichi had been travelling in Europe and North America, but after his return he turns to the Tokyo Bankers' Association (東京銀行集会所) to study the problem. On this day he holds the first discussion meeting.
Kanda Raizō (神田鐳蔵) and others have been attempting to make the spot securities market independent. On this day, Eiichi expresses his stance on their plan in the Jiji Shinpō newspaper.
On this day, Eiichi attends a New Year's banquet for the Tokyo Stock Exchange (東京株式取引所).
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