Hongkong, Dec. 29.
'The year-end market situation there' is generally stationary.—Although the T, T. draft on Japan has been firmly quoted at ¥.54 the general tone is weak. As to the trade nation big trade. transactions, both import and export, are at a standstill except for some minor dealings. The money market is considerably easier owing to the abundant stock of silver. All markets are considerably under! heavy business depression. However, no firms have closed down and bankruptcies "o far as there are semic weeks more before the settlement according to the Chinese A s0UNT order has Ween issued bs! the Shanghai District Kuomintang] and the Greater Shanghai Bures of Soe shops and factories to observe, the "Affairs, forbleding: native
ina New Year, and saying that {hose ignoring the order will have meant their employees" double Pay during the period of the hol Any. Tu the event of employees ask me for eave for the China New ear, the order says, they will have thole wages forfeited in addition to a fine amounting to twice as much their wages during the period of the Foldag The emlapers. nay fre tinent from thely duties for mins ang' of their employees who
dave ge more, durin the China Year without proper reasons the order concludes. In this cow: nection, it fs oF interest to note that the Native Bankers Association has issued. a notice saying that. they will suspend their business for fre days beginning from February 19, 1931, (which date coincides. with, the China New Year) in order to lose their books.
Text read from the printed page and cleaned; old type leaves the occasional error.