The revelation has not only ite intable concomitant of a financial ori The despatch of money from Shanghai in Hapkow, bat also one in Shang
to Havkow, to relieve the situation came by the depreciation of paper money there, has led to the n value of dollars locally, orage Ohinese and the lo classes, bearing that the Hopeb Gor notes were being offered for 25 conte, fil iota a state of panic. Every including the Taching yesterday by these peopl and depositors end note-holders wauved all their money in silver.
The banks have stood this ran re-testimony to the fact ive banking has made wonderfal vent daring the year. Bat if contione, the banks, however be, cannot bat go ander. 'The Chinese Chamber of Commerce and the Bankers'
{Guild met yesterday morning, aod decided to request the foreign banks to extend the time for the short loans made banks, in order to It iv understood that rangement could be arrived be foreign "banks woes the bile the drain on the banks is very great, the Tachiag Hak alone haviog paid out $300,000 yesterday. ti ordinary meet the strain they are getting much of their loans back a8 possible, ities offered are accept able, ther. chance of the foreign banks telping them with ready money The foreiga plete with money, and with.000 rent by corey of keeping the market are easily be relieved. for and parallel could be found on development has arisen, one
the occasion of the Boxer troubles, in the fact that Chinese are baying gold. Sovereigos were bought yesterd: st the lowest entimate Y.2,000 000 have been bought for deli three weeks, for ase among Chinese. To auch an extent has the panic deve. loped that the people distrust even the recognized foreign book notes, and convert them into silver.
We anderstend that op till late yesterday the Banks were not inclioed to grant the request of the native banks to concede an extension of time for the Payment of cativo orders. Bat the matter is still under cent the decision will very mach depend upon the tarn affairs may take.
Text read from the printed page and cleaned; old type leaves the occasional error.