Feb. 8, Tue China New Year settlement is proceeding in comparatively uneventful fashion. Notwithstanding the steady drain on Shanghai's silver stocks dur-ting the past year for the purpose of providing the inhabitants of the interior with hard cash as a substitute for too frequently depreciated notes, the native banks are. well enough supplied with funds to meet the requirements of their clientele. Although prosperity was very largely absent from business during the year and losses have been incurred in many directions, the great majority of the merchants upbear to be in a position to tide over this settlement, and up to the present only one failure
Text read from the printed page and cleaned; old type leaves the occasional error.