A telegram received by the Bank of Japan at the end of last month stated that the monetary situation in Lombard Street has witnessed a marked degree of easiness. Last week's tenders for Treasury' Bills are announced to have lowered the average discount rate to 33 per cent. per annum, However, the situation shows a slight sign of hardening as the year end is ju sight.
In the stock market in London! gilt-edged securities, especially British securities, continue their advances. The volume of business has also broadened very much. However the deadlock as regards the ratification of the Irish Treaty and the approach of holidays are in-traducing & reaction.
The Geddes Committee has prepared its ad interim report which is now receiving attention in the Government. Although the contents of the report are kept secret it is understood that its chief point is save £200,000,000 through the fusion of the War Office, the Navy Office and the Air Service Department in! a single department of national defence.
A reduction in the Income Tax is urgently requested. Railways in fo England and Wales have decided to lower their freight rates on iron, coal and other commodities on and New From of Bill of Lading London, Jan. 4.
An important change in the conditions regulating ship freights, as laid down in the Hague Rules of 1921, has been introduced in the bills of lading of liners. It is expected that this change will be in operation next month. Shipowners under these new conditions—will accept "Carrier's risks." The arrangement will not apply to bills of lading issued in the United States, where the Harmer act is in operation.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.