On the evacuation of Chungking, the stocks of the British-American Tobacco Ca., the Standard Oil Ca. and, in part, the Asiatic Petroleum Ca, were seized and sold by. the: Chinese authorities, who undertook to refund the proceeds at some future time. The mission was suc-
The conclusions to be drawn fron this memorandum may not unfairly be summarized thus. British (and foreign) trade throughout the Yangtze Valley has suffered most severely from the prevailing state of clines, and is likely to continue: to suffer from the increasing exe actions on direct trade and the opcessful in saving the little that remained of the Asiatic Petroleum, Co's stocks, and a further agroement, whereby the Chinese were to allocate the proceeds of a certain tax to discharge their indebtedness in respect of the stocks already seized, was negotiated during its stay.
In Hankow, Mr. Brett found conditions slightly better and business facilitated by the removal of the restrictions on the movement of, silver. Here, however, the many millions of depreciated notes which the Eugene Chen-Borodin administration and issued, constitute an insuperable barrier to: the resumption of trade on normal lines. Lab-jour is thoroughly out of hand, and it is practically impossible for factories to carry on. All the corporations have suffered and have a hard struggle ahead.
Mr. Brett says: "I must frank ly admit that my visit to the ufres stroying their buying power.
Yangtze Valley absorbs the greater part of China's imports of Britishe made cotton goods, British machine ery and other manufactures, the ess of which trade directly ulfects industry in Great Britain, Nor do the losses sustained by the oil. tobacco and shipping interests matter much less to the British taxe payer.
British trade with China is worth saving, and it ennnot be saved by pious hopes and gentle phrases, Local action, whatever Mr. Brett may think, has proved efficaciouss The Chinete understand the argus mont of the Big Stick: it is precise ly their own way of dealing with their own recalcitrant countrymen, So, until the day when there is a competent Chinese Governmanty treaty rights should be maintained by force wherever and whenever, necessary.
Bavssets, Jan. 14:—Two earthquake shocks were felt last night, in the east of the province of Liege, in the north of Luxembourg and in the neighbourhood of. Brussels. There war no serious damage done, and no casualties—Reuter, OsaKA, Jan, 21:—A mass-meeting was held last night at the Public Hall to oppose the tariff on pig-iron, steel bar, cotton yarns, wool-to yarns and pieces, jumper, etc. meeting was sponsored by various trade associations—Renter,
Text read from the printed page and cleaned; old type leaves the occasional error.