The Chinese press publishes the following story of a rice combine which -is said to have been organized in Chapei especially for the purpose of exporting rice abroad ©The price of rice is again showing an increasing tendency. The best grain is sold at $11, while 39 is asked for the cheaper grade. Now a combine has been organized and is handling thousands of piculs of rice which is transported abroad.
"Some 30,000 piculs of rice were bought at -a fairly low price, transported to Nanking and from thence sent to Tsingtao, via Pukow. At Tsingtao, it was sold to the merchants of a certain country at $26 per picul. Upon examination by the latter, it was found that the poorer grade was mixed with the better grade. Delivery was refused. The unscrupulous ones were greatly afraid and after some 50 days haggling over the telegraphic wires and after spending some $50,000, the merchants in Tsingtao agreed to take delivery.
"In_ spite of this loss, it is reported that the combine is still working hard at the same practice and hopes eventually to make up for the loss it sustained."
Hoarpers Movine ro Cuaret.
The rice situation eased somewhat on Thursday, Inquiries showed that there was a drop of about 30 cents a picul, bringing prices down to between $9 and $10.
It was stated that owing to the inland officials trying to enforce the famine surtax, the merchants refused to ship any of the grain to Shanghai, but rather hoarded it up inland. When the officials saw that they could not collect the surtax, they decided not to levy on rice-boats. Hence, during the past two days, some 200 of these boats have arrived in Shanghai and thus have greatly relieved the situation.
The Chinese Press states that {the Civil Governor of Kiangsu has ordered an investigation into the alleged hoarding of rice at Pukou for exportation. So far some 200 bags have been found and confiscated by the authorities.
Hoarders in the Shanghai Settlements, continues the Chinese Press, finding that the Municipal Council is bent on prosecuting rice hoarders here, are beginning to move their stocks into the Chinese territory. especially Chapei. Wheelbarrows lader with the grain may be seen in the vicinity of the Sinza Bridse being transported into Chapei.
Text read from the printed page and cleaned; old type leaves the occasional error.