The local Chinese community is very mitch concerned over the sudden increase in the price of rice. In spite of the action of the Bureau of "Social Affairs for Greater Shanghai limiting the price of the best quality to $17 a picul, quotations on Aug. 13 in Nantao and Chapel stood between $19.50 and $20, with every, prospect that the latter figure will be passed within the next few days Naturally, it is the poor who have to suiter,. people like the Tiesha and the handcart - coolies who, with their families, are forced to live @ hand to mouth existence. With prices soaring as they are now, many are wondering whether they will be forced to forego a meal a day. ice merchants are becoming med "because their present stocks are ast disappearing and few shipments have been coming in from the producing centres.
Unlike previous years, when speculators were alleged<to have hoarded the grain for higher prices. to rule and unscrupulous. persons. engaged in smuggling it to foreign countries, principally Japan, reasons, mainly due to acts of God, fre said to be responsible for this Year's shortage and the consequent igh prices, 'A. representative, of. the "North-China Daily News" on August 13 {interviewed various merchants on the subject and learned that the inex ease in price was attributed to the following causes The continuous rains of some weeks past which either destroyed the crops in their entirety or flood-the rice growing districts; The recent, typhoon which has bean'responsible for the suspension of shipping; he partial drought prior to the xain which helped to destroy" the stocks on which the farmers had Daved their estimates The artificial demand which has doen created by a fear of rice shortage The fact that many rice junks which had hitherto been engaged in transporting, rice were now engaged in transporting other cargo; The despatch of huge quantities of the grain from the producing centres to relieve the flood sufferers; The non-arrival of stocks from abroad; and The destruction of a number of dykes in the flood districts which affected transportation, News" was informed, coupled with Ho" post haw een neat to Impostite te pring rice to Shang hal by funk and, eid and of the Jperchanter "we do not know when Bernext Boats are coming in. Froe, few boats have bean alying hak the socks they bring In ares far From sufficient to meet the Tequite: monts of Shanghabs public. "Last years ye stocked heavily in the fear Bhat there would be a shortage bat, after. we Ind bought our stocks, prices dropped. and.'we, suffered Bonvy loses 'S0'it Ye that mont of the rice merchants exercised care this year lest they should make the Sine "istoke, "indeed, our. arocks the present tine ae far below Asa matter of fact, it was stated, 400,000 plete of ice had Been ordered abroad: but. 300,000 Sculs "had. been sold. and. the aimee had not, artiveds But here was. ifiealty. which the puille oiled to's appreciate, Bulering stacks from abroad, the fice merchants. were. faced with The question of exchange, matter which was not so. apparent in past Years: "thin year's silver" slump Yorced them do Day more. than Geuble the prices' they paid in past Jearay Witt the nestle that." Bhey Jove" forced to exercise consider= ale care, Tu an attempt to check further ingreate in see pices, te Buren fof Social Affairs directed Ste. Fane! Gurtang do arrange a meeting with ites Dealers Association. This was belt on August 11, when Feng pointed out that' there. was actualy sufficient ce in. Shanghai fo meet all demoids: and, that $17, the price Limit fixed by the Bureat for the bert quality of the gray Jas 'a fate one. There wat Teed for unnecessary alarm on the art of the people andthe vice Frerchants shovlg, not attempt {ake advantage of the situation by Pushing sp prices
Text read from the printed page and cleaned; old type leaves the occasional error.