Nanking, Apr. 19, The Chinese tea market in Java, which usually occupies an important place. in China's exports, Is now on the decline, owing to serious com= petition of Java native tea and the Gumping of Formosan tea by Japan ese, Tk is estimated that more than 10,000 Chinese directly or indirectly connected with the tea trade in the Netherlands colony have returned China because of the depression, fand fears are expressed that, if the conditions are allowed to drift on, the Chinese ten market will be swept out of Java in two years. The Chinese Government, however, Is Inking steps to better the situation.
Recent quotations put Formosan ten at ¥.20 per picul and Chinese tea at {40 per' pict, thus leaving the Jatter in an obviously disadvantageous position—Central Nows, Some of these attempts have been-Evary factory oF industry established particularly. "glossing. Perhaps the! with foreign capital end under for-Worst, In which British intoresls areelgn, management in China only. indivecly involved, Has been asset. The dividends paid to foreign the deliberate attempt to put the In-|!nvestors amount only to an influ ternational. Savings.
Socloly out of \esimel percentage of the money spent business, on the ground that it en-[in Cina on building and land, on courages gambling in an undesirable labour, on raw materials, ele. form, followed by the establishment, Foreign enterprises are also an imtinder the auspices of the Central portant factor in the reduction of the Trust, of a Savings Society run on|adverse trade, balance which, is exactly the same lines, the operations [handicap to China's commercial ex-which have been commended to pansion.
In the long run, given the public by the Minister of Finance, similar eMcieney, Chinese enterprises There have, of recent. years, been must be expected to outdistance those many examples of direct discrimina- which are dependent upon foreign Hon against foreign Interests, such capital and foreign management. It fs the Industrial Encouragement Act, is false polley to subsidize IneMiciency the new Insurance Law, the new Pri-lin the interval. T have ventured upon vale Railways Act, ete, all of which these fow observations in the kope diffeult. to reconcile with the that you will realize that the China professed desire of the leading Chi- Association and British Camber Rose officials to encourage the Inflow Committees cannot remain inactive, of foreign capital, even when what most people regard Leglstation Hindrances 3 manter Sin major Sino-British issues are. in But the form of discrimination that abeyance, and {o emphasize the fact that ce-operation—not discrimination, following for the Dow-Jones industrial average, the present advance tiees is now the longest intermeupswing on record:
Sept, 25, 1911 to Sept. 30, 1012. arch 20, 1015 to Fed. 11, Obviously the vulnerability of the market has been increased after such protracted advance and unless the Fall average soon convincingly pene-
secondary reaelion appears probable. Hates is Pobraary, ah elf Monday's Closing Quotations 2 which Is most dimeult to deal with, and which has occupied so much of your Committee's attention during the past year, is legislation which, fon the face of it, does not directly Aiseriminate against foreign interests, but compliance with which by, the: whatever form that may take—is to Anaconds the best interests of China, as well of British merchants and Investors; this country, Mr, Woodhead then moved and Mr. P, W. Massey seconded the adoption of the statement of accounts and the Bord in Sa ist ch, Coy Bed latter would In many cases handicap, if it did not entirely paralyze, foreign enterprises. I refer to such laws motion was carried unanimously.
The meeting concluded with the election of the following members of BhiyecMonhattan Trans, at ast yeManssia cum td. 3014 108k cast, 31, Joo! Hao Ean Paine Ray, lat Shag "Nat Batic Hongkong & Shanghai Banking Corporation (incorporated In the Colony of Hongkong. The Wabitity Of" Members. is United to the extent aid y manner prescribed by Ordinance No, of 1920 of the Colony.)
Text read from the printed page and cleaned; old type leaves the occasional error.