Aug. 16.
view' of the situation following the serious developments in the local Sino-Japanese. hostilities, foreign. banks belonging to the' Shanghai Foreign Exchange Bankers' Associ tion in the central district are closing their offices for the time bein 'The following statement was sued last night by the Shanghai Foreign Exchange Bankers' Assoclatlon:—"In consequence of the state of war and jeopardy to life and property on The Bund and in the busi-hess district of Shanghai, the banks who are members of the 'Shanghai Foreign Exchange Bankers' Assoclaton, in order to safeguard the lives of their customers and star, have deemed it advisable to close their offices temporarily, and this action hasbeen approved by the various national' Governments concerned. Immediately it is considered sate, to s0, the Banks will re-open and notice to this effect will, be published in 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 Communication snd the Farmers Bank of China, a Chinese banks in Shanghai will' rein closed for an indefinite period three days' "holiday" since last Friday, The four banks, it ig learned, will establish their temporary offices at places of safety where business will be transacted as) usual, - beginning from Tuesday, August '17.
Amid the heavy fighting now' proceeding, it is stated, it would be lin possible for the banks. to continua li day authorizes last Friday. Apoval of the extension had now been received and as a consequence the banks will not re-open to-day, The Finance Ministry In an order to the banks, however, instructed that they should promptly find some suitable site for a temporary office in order that business may be resumed as $00n as possible.—Central News.
Text read from the printed page and cleaned; old type leaves the occasional error.