June 29, Surricienr time has now elapsed to observe the effect upon the bocal market of the decision of the British Chamber of Commerce anent the piece goods contracts. Among those who hoped for relief from their engagements there is na-ing'' is probably the correct term—but the opinion which concerns us is that of the Chinese merchants of standing, the mainstay of Shanghai's prosperity. Some of them have losses to face, and these are inevitable at such a time, but thanks to sane and conservative methods of business these losses are distinctly limited. While the decision of the British Chamber had in the first place a steadying effect on the market, bringing the reckless clement to some realization of their responsibilities, it has in the succeeding days gone much further. Tt is being welcomed by those firms who through the vicissitudes of past years have succeeded in carrying on a sound business. They see more clearly now that the action of the Chamber has averted what would have been a very great evil, nothing less than the conversion of trade into a gamble, and with 2 minimum of the sporting spirit usually as. sociated with gambling present. Had any other course been taken
Text read from the printed page and cleaned; old type leaves the occasional error.