The Sampin Slump Become Chronic Tokio, Sept. 10.
The Japanese financial crisis, which suddenly developed April, has since become chronic, and the depression is particularly felt in the textile trades. The transactions on the Osaka Sampin Exchange clearly indicate the great change which has taken place since the early part of this year. The Sampin Exchange may be regarded as the centre of the cotton trade in Japan and occupies a position similar to that of the Manchester Royal Exchange. (It may here be noted that the name "Sauipin" signifies "three commodities," namely, cotton yarn, cotton cloth and raw cotton not cotton yarn as_is frequently erroneously assumed by foreigners, though actually no business is transacted except in cotton yarn on this exchange).
For the past. two months, prices have ranged slightly over Y.300 per bale of 400 Ib. but, in the early part of this year, they were more than double the present rates. During April there were very violent fluctuations and the range of prices extended over Y.200. This was the turning point and since the tendency has been ward, now having about struck the bottom.
The lowest price ever recorded on this Exchange was in December, 1914, when it was as low as Y.85.! This, of course, was due to the outbreak of the war. The high water mark was reached November last year, when Noven ber delivery went up as high as
Text read from the printed page and cleaned; old type leaves the occasional error.