Shanghai, Sept, 22.
The recent petition of the local Bankers Association to the Ministry of Finance for a postponement of the date of the levying of income tax on interest derived from bank deposits and debentures has been rejected, The date for the levy, the Ministry stated, "3320 has been formally announced by the National Government and therefore cannot be changed.
'AS a result of the recent discussions between local bankers and Mr. C. Liang, Assistant Director of the Direct Tax Bureau, an agreement has been reached among the various banking concerns hereto abide by the de Gision of the Central Government. to collect income tax on interest en bank deposits and bonds on October is estimated that the levy on the interest on bank deposits in Shanghai alone will net the Nations) Treasury a total of $500,000 yearly, as the total of deposits of all the Tocat "banking concerns, "which estimated at $2,000,000,000, will, viet Shnual interest amounting {0 $10,000, (00.—Central News.
Text read from the printed page and cleaned; old type leaves the occasional error.