A. further reduction of thi York Federal Reserve Ban) -equnt rate to 4) por cent. was amounted during the week. This mongure moans a distinct help for Stmporters and exporters in China, especially as it tends to bring down the discount rates in London and elsewhere, During the past woak Htieould be observed locally tha there isa still unpronounced ton-for differences on forward to get smaller. While, for instance, n difference of full was demanded here between November and December, this difference "has, during the past few days, narrowed own to skd. Exporters are now able to place paper for deliver" after January 1930 at a difference of only yd. per mensem, instead of Ad, which has been ushed for hitherto.
Another factor worth pointing to isthe maintenance of the local dollar rate above 72;- for the past few days dollars were dealt in at Tis, 72.085. This indicates a de-anand for silver dollars, at sent the most important factor an eventual vise in the level of sil yer prices, The mint at Hangchow continues working day and night. Int the mint at Canton is appaxent=
Jy dormant now.
Text read from the printed page and cleaned; old type leaves the occasional error.