Peiping, Jan. 26.
All the Chinese papers carry reports concerning the exchange of the old legal tender notes with "Federal Reserve Bank" notes before March 10, after which date the circulation of the old notes will not be allowed.
Notes issued by the Hopei Provincial Bank and the Chitung (East Hopei) Bank will be exchanged at par with "Federal Reserve" notes, while the old legal tender notes issued by the Central Bank of China, the Bank of China and the Bank of Communications will now be exchanged at 10 per cent. discount and, after February 20 at 40 per cent. discount.
It is generally believed that the purpose of the Chinese papers in carrying these particulars is to influence the general public to surrender the old legal tender notes in their possession.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.