Since the publication of the! Customs returns for 1924 showing substantial increases in the revenue of Shanghai and other ports, emphasis has been laid in many quarters on the unsound nature of the business which in many cases has led to this increase. Further weight may be given to this view of the position by a reference to the affairs of a Chinese merchant, dealing in piece goods and. the Tike, where affairs are now being Hiquidated. His career as a merchant on his own account is said to have begun not much more than two years ago when he started a capital of Tls. 12,000, partly' raised from his friends. A short ime ago when his affairs came to inquired into, the firm—being:
financial difficulties, he had ymmitments with about 30 foreign] i rms amounting to over Tis.
200,000, this made up of goods imported on his account from abroad, Naturally when the market went against him or ceased altogether: because of the outbreak of hostilities in some of the most important con-
Text read from the printed page and cleaned; old type leaves the occasional error.