October 11.
There were persistent rumoare throughout the Settlement on Mondsy that three or more native banks bad failed, This report will probably be found to be exaggerated, though it seems certain that at least three banks are temporarily ins critical situation, The crisis is said to have arisen on Saturday evening in connexion with the Yuan Feng-yon Exchange Bank, which was opened by " merchant named Yen Tza-chun about thirty ago and has number of branches throughout the country. About 9 p.m. on Satardsy it was reported that this made engagements with extending up to China New Year, it will cause them grave inconvenience if the Taotai calls upon them for all the fonds belonging to him, or for which he is responsible. The Taotai is natare ally anxious to, rebabil ud it is reported that the fands for which he is respon: will be able to show a" satisfactory October 12, The following farther account of the action of the Chinese Chamber of Commerce in regard to preserving the stability of the money market is taken from a native paper On October 5 " certain foreign bank declined to receive the notes of twenty-
Text read from the printed page and cleaned; old type leaves the occasional error.