The outbreak of civil war alony th Yangtze acted ay impetus to a fi market here, almost nullify ing the effects of the imminent settlement with Japan, The yen colined in. conse buyers, but in the majority of eases they turned sellers. been for the very Taree reserves held by Shanghai wwe shoul have seen a much firmer ket. ces rose but slightly, being 2
In Canton, from where a military. expedition is being started against its own offspring, there was a run fon banknote issuing institutions, a hoarding of silver coins and a pro-
It will therefore need no apology' to briefly mention some of its present-day features. During the first three days of the week under review silk to the value of about. one million taels has been contract ed for (mostly for the United States) and exchange fixed therefore. Lyons buys only spasmodically." Exporters have experienced hardships in the way of forward: quotations, which are now at the rate of 1/8 in the G§ rate and 3 centimes in the frane rates per month up; the difference in forward sterling quotations are not! quite so high, but nevertheless extant, These apparent fines are in realty in strict conformity with y that na actions and fare caused partly by the superabundance of funds here and partly based on the forward. cross-rates Exporters will also have to take ito account the disappearance of the hitherto existing difference between four months D/P rate France and four months 1./C quotations on London, Up to now the' difference was in favour of the: But the raising of the French discount rate is thought to ye imminent. Naturally banks who have lently expect the rise, must figure on discounts which force from five to ten So it will have be understood that there vill short ance or England, Pos sibly this measure will not exercise much. effect upon the Shanghai ince there is a clear discernible to draw now in france on Lyons, instead of in sterling. even into the interior. happens th decernes very searce amidst abundance, " The ecctipation of Chefoo by Chang Chung-chang's forces is bringing Customs April Exchange Rates silver as well as paper. Sth it would be erroneous to call ur exchange market firm. At the The followin will Be the Rates of slightest interval that "bears"
Exchange 10 the end of Ap ta ture to take, banks come out as good buyer pre 48 Conditions not much change is to expected in the local exchange situation, unless silver is absorbed Export Statistics ing the export of silk from Shanghai during the current season (which will end on May 30), there is evidence that exporty are: larger though not the preceding against. same inthe 1927.
Spanish Pesetar 353 Kroner cerchorSinv. Kronen 23:32 by, the Interior.
The local smelting shops are closing down for the time hel faavine ao more were to da. The mints are contracting for Porelase of har silver at prices with which the smelting sh riot compete,
Text read from the printed page and cleaned; old type leaves the occasional error.