No improvement was looked for in the piece goods market this week, and certainly none has occurred.' Nor is any in sight, in fact the weeks between now and China New Year will be among the most critical which have to be faced.
Rumours of difficulties are more in evidence than ever, and while many are based upon a good foundation there is the inevitable tendency to give currency to the wildest exaggerations. In the case of one failure occurring towards the end of last week it seems tolerably certain that the extent of liabilities over assets is in the region of a million and a half taels. This will certainly not be the end of the tale of woe, for i the absence of financial faci from the native banks it will be impossible for many dealers of small capital to tide over China New Year. In the circumstances these next few weeks are bound to be disastrous to them, and the prognostications made long since of danger to trade generally through the influx of inexperience traders will be fully borne out.
For those who can weather the immediate storm the prospects are more hopeful. Provided that they can carry on over China NewYear it_ is anticipated that the banks will once more provide the accustomed facilities and afford an opportunity to move cargo into
Text read from the printed page and cleaned; old type leaves the occasional error.