Representatives of prominent banks in Tokio and Osaka met on November 25, at the Bank ci Japan, apparently in order to discuss the issue of new bonds. Eng-Jand has been contemplating redeeming, entirely in cash, yen currency 'Treasury Bills worth Y.50,- 000,000 and expiring on January 15, 192i, and part of specie' already shipped is expected here in the course of December. The influx of Y.50,000,000 gold at once will materially affect the monetary market, which is "now very easy, and may react on it unfavourably. Bankers thus hope, it is said, to issue new bonds, with a view to attracting available funds.
The term for the exemption of Customs duties on beans, cotton yarn, cotton textiles, eggs, and beef was to expire at the end of November, and this question must be soon settled by the Cabinet. The Ministry of Agriculture and Commerce has decided to restore the duties on beans, cotton, yarn, and cotton textiles, but not to restore those on eggs and beef for the present.
The Mitsui and Dodwell lines have begun to lower freight rates for Oriental ports from Seattle, and members of the Pacific Homeward Conference are compelled to follow the example, including the rate on lumber from $15 to $12.50.
Text read from the printed page and cleaned; old type leaves the occasional error.