Osaka, Oct, 10, As a result of the financial panic April, funds have accumulated the larger banks in Tokyo and Smalley banks everywhere (fering seriously for want of deposits, 'The total amount of deposits in all the banks. throughout the country is 8,311 million yen, of which 2,718 million yen is held' by tthe "big five" banks.
'An extraordinary feature of Jap-fanes banking is that fixed deposits (mostly six months) figure so very' argoly on the side of liabilities more than half the total deposi 'The banks pay a high rate of interest fon fixed deposits. "The rate used to be 6 per cent. It was reduced to 5h per cent. since, and now it has again been brought down to 5 per it, which is still high compared with' what banks pay in some other countries This peculiar state of affairs in Japanece banking may be accounted for by the fact that the majority of the Japanese people do not invest their money in securities, but simply Aeposit it with banks, which do the investing for them. In other words, what is called an investing public is atill undeveloped in Japan, The reduction of the rate of interest on fixed deposits will doubtless tend to shift this form of funds from Danks to trust companies, but the Process will be slow. It will also help to create an' investigat public, but that wil take a long time, —Reuter, Osaxa, Oct. 13:—Mr, Minoura, the former Minister of Commu tions who was prosecuted in con-
Text read from the printed page and cleaned; old type leaves the occasional error.