The Mid-Autumn Festival, one of the three major festivals in the y will not be celebrated in China this ear owing to the situation, and the hinese public have been urged by civie leaders and Kuomintang officials to donate the money to be spent in the customary celebration of the occasion to "comfort funds" for soldiers.
The festival, which falls on the fifteenth day of the eighth moon, which is to-day, will be observed by banking institutions as a holiday. Member banks of the Shanghai Foreign Exchange Bankers Association will be closed for one day In order to meet the market demand for cash, Chinese Government banks are reported to have already made short-term discount loans to the amount of over $5,000,000) as the festival is also a major settlement day. The other two important festivals or settlement days are the Dragon Boat Festival and the Chinese New Year.
The difficulty of collecting accounts during the present period is admitted in banking circles. Such collections in the International Settlement, the French Concession and the Nantao area may cover 30 per cent. of the accounts, leaving the remainder to be settled by the New Year.
Text read from the printed page and cleaned; old type leaves the occasional error.