Wild rumours to the effect that Chinese exchange merchants had sent a petition to the French Consul-General'to be given permission to put ihe various local exchanges under French management, were emphatically denied by the French authorities yesterday afternoon.
In Chinese reports concerning the impending opening of these exchanges in Shanghai, it was stated that some Trench interests had assured Chinese exchange merchants of their cooperation and that a petition had recently been sent to the French Consular authorities under the names of the French partners, asking for approval of the plan, The French Consul-General, however, denied yesterday afternoon that such a petition had ever been received or heard of.
After having secured the approval of the "French authorities, Chinese reports continue, another petition would be dispatched to Chungking although considerable difficulty would probably be encountered in getting permission from the National Government inasmuch as its regulations stipulate that only one exchange of a kind is to be tolerated in Shanghai, Although closed, the various exchanges in this city would thus be deemed in existence by the Chinese authorities, the closure being considered of a temporary nature owing ito changed conditions and as the various exchanges in this city have mot as yet been dissolved by the Government.
Text read from the printed page and cleaned; old type leaves the occasional error.