Chinese official circles expressed appreciation vat the favourable re-faction to the new decree and with the ce-operation of foreign bankers the exchange market remained steady, although the equalization charge, which stood at 6% on. Saturday Bu Jumped to 87% on Monday. thereby: Tendering exportation of silver uhprofitable. The prices of Government bonds, however, soared and trading thad to be suspended.
In view of the Government's announcement, the exchange market opened with a degree of uncertainty yesterday morning but during the day.
strengthened. The market was fixed at 1/24 and 29% for November and cash, and the Central Bank's selling. rates were 1/2% and 29% and the during rates, 1/25 and 30 for November. Gold bars were quoted at $1,160 at the opening, $3 lower than. the closing rate last Saturday. closed at $1,147,30, the low of the day, being $1,188.
Eighteen leading Chinese bankers had been appointed to the Currency Reserve Board which started functioning on Monday. The formation of {the Board is as follows: one member from the Ministry of Finance, two Chinese Bankers' Association: two from the Chinese Chamber of Commerce, and five others from banks which' have note issue.
'The names of the members already appointed to the Board are; Mr. 7. V. Soong, Mr. Cheng Kia-ngan, Mr, Li Chia, Mr. Sung Han-chang.' Mr." Hu 'Chun, Mr. Tang Shu-ming, Mr. %. P. Chen, Mr. T. L. Soong, Mr. Cheng Zun-chang, "Mr. Ho' Chung-hsiao.
Text read from the printed page and cleaned; old type leaves the occasional error.