Minister at Large Sees Progress Locally Peiping, Apr. 10.
Japan's international relations in Shanghai are "progressing smoothly," Mr. Masayuki Tani, Japanese Minister-at-Large in China, told a Domei correspondent yesterday. Mr. Tani arrived here from Shanghai by plane.
He predicted that the Shanghai Municipal Council question could be settled soon "with the acceptance by the Coumeil of the proposal made by the Japanese in view of new developments."
Progress is being noted in Central Ching as a result of the organization of the Reformed Government of China, Mr. Tani said.
"Relations are taking definite form between the Provisional Government and the Reformed Government," he declared, "following the conference between the executives of both Governments in Peiping.
"In the future, preparations for the union of the Governments will be continued in negotiation, between the representatives who will be exchanged, "Calm Attitude"
"A calm attitude was maintained by the British, American and French local authorities toward the advent of the Reformed Government, because they anticipated it.
"They are paying attention to the activities of the Reformed Government, In other words, they are concerned over the attitude of the new Government regarding the rights of foreign Powers in Central China.
"So long as the new Government respects the rights of foreign Powers they will adjust themselves to the new situation."—Domei, British Markets Report London, Apr. 9.
With outside institutions anxious to find employment for funds, borrowers in the London money mar} during the past week readily loans, but this state of affairs was not welcomed by discount brokers, who after congratulating themselves last week on the better Treasury al-Jotment rate, are now facing a fresh influx of capital from various e quarters. Week-end money was in quiet'demand at % per cent.,. while discount rates held fairly steady, with short and three month bills quoted at y per cent. to 3 per cent.
Among commodities, rubber ruled firm in sympathy with overseas advices, while wheat, after renewed firmness, reacted on profit-taking.
In the foreign exchange section, pending a definite formation of new French Government, dealers in franes acted cautiously' and kept down business to a small scale. The currency was quietly firm and small purchases improved the rate to 161.31. There was some selling, however, in the forward market, where the three months and one month discounts widened. The rate finally closed at 161.00. Elsewhere, quiet conditions ruled, with dollars practically unchanged at 496.31 cents. compared with 496.37 cents. yester-
There was only a small turnover in gold amounting to £95,000 changing hands at yesterday's price of 140/144, including a %d. premium over the dollar parity.
Indian selling caused a further get-back in the silver market, with both the spot and forward rates Clining Yad. to '18%d, and I respectively.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.