Heavy Damage to Silk Reported On account of the continuance of heavy rain during the past month there has been a certain amount of anxiety in regard to the effect it would have on the!ocal- crops. At the same time as Shanghai experienced these downpours, a report became current that the country in the vicinity of Peking was again suffering from drought. The extent of this it is impossible yet to say, but there seems to be no doubt that over a particular} area the lack of rain is being felt.
With the exception of silk, and the measure of damage which is not yet fully ascertained, information is largely lacking as to the effect these rains have had. Chinese reports must always be taken impossible yet to say.
I with a good deal of reserve, as reports of damage are generally exaggerated with a view to sending prices up. It is, for instance, impossible at present to say how far the wheat crop has suffered, although a number of reports of damage have been received. Eyen if these are correct—and no definite information.is likely to be forthcoming for about another fortnight—the wheat crop' will almost certainly be as large as a year ago, for it is reported that owing to the high prices current last season the acreage has been increased.
One difficulty in estimating the effect of the weather on crops is an. absence of information as to the extent of the rain. Thus so far as cotton is concerned the general position in Kiangsu is fairly well known, but reports from Hankow, Shensi and other centres have not yet come to hand. The only effect the heav ins have had in this province is to delay planting for about a fortnight, and the crop will accordingly probably be later than usual.
Text read from the printed page and cleaned; old type leaves the occasional error.