Price of Commodities During February—An Upwardj Movement —"Ceremonial! Bargair s" and Decline in Exchange Tie Bureau of Markets makes prices in Shanghai the following report on wholesale Commodity prices moved higher in February, and the rise was rather extensive in percentage, and unanimous in the different lines. The Treasury Department's Bureau of Markets' Index Number, as of the last Wednesday of February, totalled 106.9, an increase of 29 per cent. over the previous month, and of 4.7 per cent. over the corresponding month last year. It shows the first. considerable advance since June, 1920, during which it reached its highest point. The total average of April last was just the same as that of this month, although they differed widely among their several headings.
It may be a little surprising to see a sudden rise of prices at Shanghai when there prevails all over the world a weak tendency. No substantial increase has been heard yet from any of the figures of London, New York, or Tokio, since the period of re-adjustment began, But we should never forget the facts that the ceremonial bargains" after the Chinese New Year happened this month, and that a revival of trade was eagerly hoped and believed in some circles in this market. Besides, the decline of silver exchange may have had no small effect on prices.
The monthly numbers extending back to February, 1920, are given below Miscellaneous 3 33 S 32
Text read from the printed page and cleaned; old type leaves the occasional error.