It is generally understood that a number of smaller Russian firms fand shops are being forced into liquidation owing to the closing of the Russo-Asiatic Bank. Weeksels jor Promissory Notes which play such a prominent role in Russian business circles are no longer being negotiated by the local Banks. This means to say that Russian traders are no longer able to buy Jon credit and with most of them especially as the outstanding be protested against if not paid on the given date.
The position lof a great number of Russian house-Jowners is not one whit better, for mest of them have borrowed money jon their properties, principally from Japanese firms and at a very high rate of interest. The latter jate closing down on many of the /mortgagees, due partly to the fact that the local dollar is pow so How. The local Court naturally assesses the buildings in dollars, and when a creditor has proved" his debt to the satisfaction of the Court, the latter has the property valued jand fixes the value at which it may be auctioned. The original owner is allowed to receive the difference between the selling price and the Jactual amount of his debt. Thanks to the fall of the dollar and to the fact that the money borrowed was jin Yen at the time when the Yen lower than the dollar ° the Joriginal owner finds that he not Jonly loses his property but also leash.
Text read from the printed page and cleaned; old type leaves the occasional error.