For a considerable time past th aromaly of having two: bodies of steek and share brokers in Shanghai, each "with an institution. o their own and each quoting thei own rates, has been recognizes The Stock Exchange, is, of course, by far the oldest: body of its-kind im Shanghai, and it -will be remem-bored that the Sharebrokers Associa tion came into being-about 1910 when the volume of business temporarily increased toa very largo extent. While this volume. subsequently became less, with the Rrowth of the port it is probably conceded nex that sufficient transnetions pass to justify the employment of about 100 brokers, The membership of each change is fixed at 50, and it is of great interest to know that four vacant seats in the Stock Exchange and #10 likely to be filled by the election of Chinese members, 'Two of these, it is "understood, -are Oxford graduates. 'Already, as Mr. A. W. Reynell, chairman' of the Shanghai Sharebrokers Association, "pointed Jout in-his speech Jast Saturday ae tie opening of the Association's new premises, there is-one Chinese mem-Der there, and he is vogarded as a valuable asset. There can, of course, be no doubt as to the value of the association of brokers of all nationalities inthe exchanges, as affording a freer market, One Shanghai market has been tov restricted.
Tt is understood that definite 8 have been proceeding for about four months past for the amalgamation of the' two exchanges, and-now'only technical points are Lelieved: to' be. outstanding,
Text read from the printed page and cleaned; old type leaves the occasional error.