The Hankow Race Club, which was put in bounds at the end of April, is looking very pretty, a perfect oasis in this hot weather. The navies, both officers and men, make great use of the facilities for sport offered by this club, playing cricket, dolls, polo ing-bath is} [fairly well patronized. There are, however, very few women about other than the wives of the German community, which "is to be seen every afternoon in strength.
All this suggests a return to the riginal, but on the other hand the foreign banks continue to"keep doors closed and are doing little business other than cashing small cheques for residents, while, except for the presepackers, the foreign export trade is dead. The egg-factories are experiencing difficulty in obtaining supplies owing to the fact that country-folk will not Jaccept paper-currency in payment} while the use of silver is illegal, so that these factories are only. running a small portion of their plant. 'The huge plant of the International Export—Company (Vesteys), which in the season] employs 6,000 hands, stands empty Jand idle. 'The Japanese have ceased to attempt to do any business, and' it is doubtful whether even the Germans are paying expenses; in fact it id that many of the latter who with to get away are unable to do so owing to the expense.
The Flight of In the native city, rice and salt have not only risen greatly in price Hour, even at the increase, are very hard to procure, dealers refusing to part with such commodities in return for paper-currency of doubtfal value. Incidentally, Central Bark notes new stand at a discount fof 30 per cent. ard show every Htendeney to go even lower.
There has been a certain amount of export trade from Hankow during fell cargoes, but th 28 is essentially connected with the transfer of capi Shengha Shanghai as the [them to transfer their funds without [ruinous loss en exchange.
'Apart from financial chaos, trode threatens to be severely hindered by sudden increases of doties, ap parently at the Ycliticn of any' Duesbody in the Surtax or Inland. Revenue Department. Duties on} most imports into Hankow now range from 7A up to 12 per cent., Jand even when the bill has been paid Jand the goods cleared, additional! [charges are liable to be thrust upon! the importer. This state of affairs and with stamp-daties imposed in invitating ignorance of the ordinary usages of commerce, with labour taking holidays without notice, and] the tendency shown by the unions to blackmail employers—threatens to kill any hope of a revival. of trade. In fact the general consensus Jof opinion is that foreign trade will Joe in the doldrums for another five years.
'A Capable Director With regard to the Coneéssions, Jone observes that the ex-British Concession locks much the sume as jover, this being attributed on every liliand to the excellent work dane by Mr. H. 0. Tong, who hails from Heungshan and is well-known in Hongkong. Mr, Tong is Chairman and Director of S. A. D. 3, other-ict No. 3 or ex-British Conjeession. In addition to keeping municipal work up to the mark, Mr. Tong maintains a special force ito prevent the possibility of a sudden rush from the native city into the District—always a possibility when so many wild rumours are around.
At present the finances of the District are causing a certain Jameunt of worry, because of the depreciation of Central Bank notes, in which a large proportion of the taxes are paid, but even in this direction, one' understands,—the Director has shown such a' hel fulness which is much appreciate bby the Britih members of the Council. The only cloud in the sky is the probability of Mr. Tong's Leing withdrawn for other duties by the Nationalist Government and the substitution of a successor politic ally agreeable to the Government but lacking all knowledge municipal organization,
Text read from the printed page and cleaned; old type leaves the occasional error.