Diseussing the proposed increase As a result of a conference bein the pig-iron taritt, Mr, Mitsuchi, tween the Governor of the Bank of the Minister of Japan and representatives of they day that it was Mitsui, Mitsubishi, Yasuda and develop her and steel Sumitomo banks, it has een agreed industry. Conse ently, he to establish a special bank for the the authorities lad been assisting purpose of accelerating the re-by means of subsidies and were now adjustment of the banks which closed considering how best they may con-at the time of the financial panic tinue to help. in April, 'Me, Mitsuchi denied, however, 'The new organ will be called the that the authorities had' any inten-Showa Bank and will amalgamate, ion of establishing a prohibitive; not only closed banks, but also a few duty on Indian pig-iron a he] others. declared, it was undesirable the consumer ang for the develop-mont of the industry itself.—Reuter.
Later.
The Foreign, Finance and Com-am with the heads of cotton: terests the question of resorting to some self-defensive measure against India's tariff policy as regards cot-fon, It is expected that they will Recommend an increase of duty on Indian pig-iron though it is om The-Bank of Japan has agreed to make advances at low interest to the new bank, which will be eapitalized at Yen 10,000,000, of which 6,000,000 will be offered' for public subseription—Reuter. phasised that this will be done in the interests of the Japanese steel industry and that the Government does not desire to enter into a tariff war with India.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.