The assembled elected its first directors: The meeting decided to register the company with a nominal (authorised) capital of $4 million.
Dr. Lim Boon Keng arranged an interview with Sir Arthur Henderson Young (1854–1938), Governor of the Straits Settlements.
Before the interview, Seow Poh Leng was called on to produce a balance sheet within 48 hours, which he did, after which he fell from sheer exhaustion.
[14][15] On 27 August 1914, Secretary Seow Poh Leng had a notice published in the major newspapers, informing the public of a Government proclamation, dated 26 August and published at the bank, "Maxwell, acting Colonial Secretary, Straits Settlements, issues this Proclamation for general information.
The Government has examined thoroughly the accounts of the Chinese Commercial Bank and finds that its assets exceed the liabilities.
The present trouble is partly due to the fact that many traders are hoarding their money instead of paying it into the bank.
Further it should be well known to all that in the present time of war, people who have cash should pay it into the various banks in the Colony and thus allow it to circulate freely to help commerce and should not hoard it.
[20] Due to repeated complaints from shareholders, particularly Tan Cheng Siong, Lim Peng Siang, resigned.
[23][24][25] The bank had successfully recovered from the run, but due to complaints from shareholders, particularly Tan Cheng Siong, Lim Peng Siang resigned his position as Managing Director.