As early as in the month of September, the Association arranged with Toeat banks for funds for its granary work "which hasbeen carried annually since the Autumn of 1932 Hitherto, only the Shanghai Com. mercial and Savings Bank parti cipated in this work, but this year three local banks are participating—The. Shanghai Commercial and Savings Bank, the Bank of China and the National Agricultural Bank.
"Arrangements have been made with these banks by which an ageregale sum'of $100,000 has been made avail able for loans to farmers. The work started when the rice harvest began. [Up to date, 131 granaries have been established in 120 odd villages, scat~ tered mostly in the districts of Kiangting and Chuyung. It is planned to extend the granary work this month te Kiangpu-hsien on the north side of the Yangtze River.
The number of farmers who have made use of these 131 granaries total 2.380 and about $62,218 already has been loaned out to them against the security of 28,303 piculs of rice which have been deposited by them in the granaries. Farmers are expected to benefit.
Text read from the printed page and cleaned; old type leaves the occasional error.