Independence of Foreign and Native Banks Desired Canton, July 14. The silk merchants in Canton have decided to organize a "silk bank." This action, they hope, wil render them more or less independent of the foreign and native banks whose dictation, the silk merchants say, they often have to follow under circumstances beyond their control.
According to reports from the Shuntak silk area, the 4th crop of silk this summer has turned out to fair, but this improvement still fails to cover the losses of the first three this year. The farmers, how-lever, still have two more crops '0 bring in. They now pay less than four dollars for a picul of mulberry leaves and get $140 to $150 for Picul of cocoons, not a very good ly drawn up by the return in the eyes of the farmers.
Text read from the printed page and cleaned; old type leaves the occasional error.