In view of the situation following the serious developments in the local japanese hostilities, foreign banks belonging to, the Shanghai Foreign Exchange Bankers' Associa tion in the central district are closing their offices for the time being The following statement was syed last night by the Shanghai Fo eign Exchange Bankers' Associa tion:—
In consequence of the state of war and jeopardy to life arid property on The Bund and in the business district of Shanghai, the banks who are members of the Shanghai Foreign Exchange Bankers' Associa-tuan, in order to safeguard the lives of their customers and staff, have seemed it advisable to close their offices temporarily, and this action has been approved by the various nal Governments concerned. diately it is considered safe to de so, the Banks will re-open and notice to this effect will be published the local Press and broadcast."
With the exception of the four Government banks, namely, the Central Bank of China, the Bank of China, the Bank of Communications, end the Farmers Bank of China, all Chinese banks in Shanghai will' re-rain closed for an indefinite period after three days' "holiday" since last Friday.
The four banks, it is learned, will establish their temporary offices at places of safety where business will te transacted as usual, beginning from Tuesday, August 17.
Amid the y fighting now proceeding, it is stated, it would be impossible for the banks to continue norms! operations, and they had applied to the Finance Ministry for permission to extend the two days' holiday authorize last Friday. Approval of the extension had now been received and consequence the banks will not re-open to-day The Finance Ministry in an order the banks, however. instructed hat they should promptly find some table for a temporary office in order that business may be resumed as soon as possible—Central
Text read from the printed page and cleaned; old type leaves the occasional error.