Alarm Caused by Purchase of Local Concern Fears of an invasion of the Hong-ow retail market by" the, Dalmary Company, operators of department stores in various Japanese ities were allayed on June 8 by an one nouncement by the firm" that would not open a selling branch here.
The rumours of the impending opening of a Daimaru store here followed the acquisition by the Osaka firm of the Bingaya Company, dry goods store at 201-208 Boone Road.
'A Daimaru spokesman, the "Shang-hal' Mainichi reported on June 8, announced that the firm did not intend to open a retail shop het but would engage exclusively in exporting colin rugs and other Chinese-manufactured articles the United States and other coun ties, The Bingoya hitherto operat two cotton rug factories, one at 1033 Baikal Road, and another in Soochow.
These plants will be enlarged and Improved at a cost of ¥.300,000, the "Shanghai Mainichi" said, Mr, Sanematsu Sugihara, owner of the Bingoya Ca, sold out because of falling health. He intends: retiring to Japan, The opening of a Dalmaru export.
branch here was regarded 03 significant in local Japanese financial and business circles, the Japanese newspapers said, The step was Interpreted as attempt of the ¥.18,000,000 concern acquire foreign exchange for the purchase of goods for importation to Japan, 'The recent imposition of a: Government Hence system on the purchase of foreign exchange by Japanese importers, coupled with' the strict enforcement of the Foreign Exchange Control Law and the Law against the Flight of Capital, has made. the Importation of foreign articles into Japan dimeult,
Text read from the printed page and cleaned; old type leaves the occasional error.