NOTES FROM NATIVE PAPERS, The Hu Pao states, under reserve, that the Governor of Formosa has concluded with the representative of the German firm arrived from Amoy negotiations for a loan of $700,000, to be repaid within three years.
The Shéx Pao states that the losses on the first crop of teas incurred by the native dealers at Kiukiang have hech so heary that they have declined to make any contracts with the growers for the second crop, which is accumulating in vast quantities, without present prospect of being sold at all.
The Soochow correspondent mentions the discovery of Retrolewn within the walls of the town, and this in a well which was hitherto supposed to contain water only. The owner engaged four men to draw forth all the oil they could, and stored it ready for sale; but, as the neighbours seemed to fear a subterranean explosion, he bricked up the well after obtaining all the available supply.
ne Hw Pao prints a circular issued by the President of the Board of Revenue calling upon the Secretaries concerned for suggestions as to the most suitable rules for the conduct of a new government copper cash and cash note bank. The one principle already recognised is that notes must only be issued to the extent of the cash in store.
The different correspondents of the Shen Pao make out that the expected silk crop in Corea is " failure, on account of the worms coming to maturity before the mulberries are ready for them. The experimental tea-crop_ is also stated to be an utter failure, owing to the unsuitability of the soil. The Tung-hu (Ichang) silk-crop wod, and the new silk is selling at 3,34 cash the catty; very little opium is produced there; but the other six districts of Tehang yield a large quantity. The Szechuen yield of silk is good this year, and the opium largely in advance of last_year's production; the price is from 220 to 230 cash the ounce for the new drug; Tehang new opium, 200 cash. The difficulty previously referred to with the silk growers of Hai-ch'éng (Newchwang) is here stated to be in a dispute between' the Shantung and Kiangnan dealers, upon a question of guild contributions, but to be in a fair way of settlement. Each packet of silk has hitherto paid' 2,000 cash to the Shantung Guild.
There are still 170,000 half-chests of Hu-Kwang tea in stock at Hankow, and 40,000 of Ningchows, and Keeméns but, as the Russians are now coming freely forward, it is hoped all this may be cleared off in a fort~ night. A dispute has arisen with one of the English firms about a failure to come up to sample; the Chinese offerred to with-dray, but the tea-taster insisted upon either a fine or a cut in the price. The matter has been laid before the British and Chinese authorities.
There has, according to the Hu Pao, been some talk of working the mines at Kashgar, and a Russian named Kaumeinai has been sent as special envoy to China to enquire who is to be entrusted with the opening of them, A sum of Tls. 590,000 has been appro-printed by the Board of Revenue towards the expenses of the approaching Imperial Marriage. Both the native newspapers
Text read from the printed page and cleaned; old type leaves the occasional error.