Shanghai Central Bank Notes Sent to Tientsin Tientsin, Nov. 23, Inquiries regarding" Shanghat rumours that Central Bank of China notes nave been circulating In Tien tain at a discount to-day elicited from the manager of the Government bank here the information that. the Jocal branch, during the past three weeks, nus' redeemed more that '$500.000 of notes in Chinese standard dollars, at no discount what was also revealed that the Central Bank has shipped $1,000,000 rs from Shanghai' to me November 1, in an to thwart the currency manqouvres of Tientsin and Shanghai The local manager explained that the money-shops have been trons porting large quantities of Central Bank notes, all. issued anghai, to Tientsin to take advantage of the premium at which Tienisin currency has ruled over Shanghai currency recently These notes are redeemable, under the governmental currency regulations, in Standard sliver dol~ lars at any branch of the Central Bank, wherefore the importation of Shanghai notes yields the operators profit of approximately $70 on each $10,000 of notes.
In order to discourage this activity, the Tientsin branch is insisting upon redeeming the bank's Shanghai notes in standard silver dollars, whereas the currency manipulators desire payment in cheques, which would facilitate constantly Increasing onera~ tions. It was explained that payment in cheques would save the operators the time involved in counting and shroffing silver dollars and also the expense involved in moving the metal—United Press.
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