All Businesses Faced with Big Losses at New Year Settlement: A Bank Suspension Canton, Jan. 14.
'The vernacular press states that the coming year-end settlements will be' unusually hard all, round, because of the disasters suffered in Kuangtung during the past year These include the Moods in July ani August and the street fighting and destruction in the City during October.
Tt is predicted that any firm be fortunate if it is able to collect more than 40 per cent. of its: outstanding accounts.
Owing to the hard times, the pawnshops have found themselves with more unredeemed articles thea usual and they have now to dispose of them at lees than-60_ per cen, of their cost. It is feared that will force many pawnshops out ut) Ddusinese, Among native banks affected by} the unsettled conditions is the sav~ ings department of the Chen Kwong, Ca. This bank is stated to be temporarily suspending payments, fand savings to the extent of over $1,000,000 are said to be involved.
In spite, however, of the reports that trade' is at a standstill, Canton trade ax measured by the local Cus toms receipts for 1924 was not very bad, The 1924 receipts were Ts. 3,741,100, which was only Tis, 101, 860 loss than the previous year.
Inv. Yen Jit-man has been elected president and Mr, Tom "Took-chow vice-president, of the Canton Mer: cantile Shipping Guild for the next two years, 1925-27, according to a notice recently issued by this. guild. Local shipping: in Canton waters is more interesting and somewhat more unique than that of other ports, In native shipping atourd Canton harbour there are often found ax many as 38 different classes of craft plying round Canton City and the inland ports, and 400 vessels of all licensed at Cant to engage in transportation trade. Those: did not include the seven hundred small steamers and ches belonging really to the Chines but carrying either Portuguese, French, British, or other flag in enter to escape unlawful common shipping, good by vessels 1 those en
Text read from the printed page and cleaned; old type leaves the occasional error.