Important Failures Mark End of Year: Depreciation of the Paper Currency From Our Own Swatow, Feb. 17.
There was certainly no sign this hina New Year of any decline In the popularity -of the offsialy obsolate calendar, "On the contrary the Gelebratione seemed to be more genral and. more prolonged than for 'Some years past. Even the new papers, those most persistent criti of the' old order and hot champions revolution in every form, one yhounced their six days "spring feroat day without ay ination explanation o: apology was re-from the wide areas inland which have been harassed or actually ravaged by communist banditry, this has greatly increased the "Hakka element in the population and partly also to the return from overseas of those who have lost their means of livelihood there. It is not to be wondered at that there should be a shortage of houses, especially _for those who can only afford a very Jsmall rent; and it is not surprising that there should have sprung up Jon unoccupied plots of land unsightly. collections of miserable hovels of]
The year ended quietly enough to all outward appearance In the busi hear world: but the reel state of things is partly indicated by the fail-lure of quite a number of large shops re-open after the holiday.
'The most neiable case is that of the Nan Sheng Ca. A. couple years ago It opened the most magni-it cent premises that the city had et sen on a corner site at the hu' of the cltya. specious circus "which occupies the site which used to be the taotat'syamen—a. building eight storeys igo, with a universal store inthe lower loore, and. hotel, and Festaurant and Toot-garden in the Upper, and an illuminated tower all complete, also the frst electric elevafor that the citizens had. seen, Buss ness had always. seemed brisk, Dut evidently had not been brisk enough, find rumours that were circulating all last year about the company's stability have proved true. view of such magnificent failures and. they general depression, itis surprising to see huge new hotel Premises of seven and eight storeys going up. "Two. at least were completed. last year, and another Sust'on the point of opening. At the ame time one hears rumours that of the largest of those of longer Sanding is onthe point. of closing down. These "mysteries of Chinese business. optimism are beyond. the Dower of the mere western. intelli: fence to Interpret.
Text read from the printed page and cleaned; old type leaves the occasional error.