Sil Is an exportable article which Jeannot be affected by smuggling except in the local market, a sible me chant told the "North-China Horal He felt that df artificial silk flooded the Shanghai market, people would tend to buy the grtifelal com-/modity rather than. silk.
The textile industry has only been affected indirectly at present, it was learnt from a prominent Shangtal firm. Rumours are dying around among dealers that goods have been brought down from the north but [proof fs lacking. Tientsin merchants, who had placed orders with Stanghal dealers have not taken them up recently og they find they cen buy their Fequirements in Tientsin at cheaper rates, Sales of sea products, said a Chinese Importer, tave not yet reached their seasonal peak, and so local business has not been very seriously affected. Business to the north of the Yangtze, however, was at a. standstill, and he was afraid—that when the "peak months" did arrive, even local business would be killed.
With regard to cotton yarn and flour, an importer stated that as large number of Japanese firms!
wnufactured cotton yarn in China, he did not think that smuggling of this particular type of goods ched any alarming extent. Al-he had no proof of It, he had from what he felt was a rejouree that some 200,000 bags of smuggled four tad been brought} Into Shanghai from the north recently. se_merchant said _that 98 usually imported from Netherlands, Formosan, and Taikoo factories. ' Only about twenty oF, Stanghal, he said, was a distributing centre and imported goods were gathered here to be re-transported to the north and other districts. About five or six years ago, some 4,000,000 bags were! distributed to other districts from Shanghai. This number decreased to 2,000,000 later due to the depression. Since the growth of smuggling in the north and south, it. had further dropped to Yess than 1,000,000 bags.
Text read from the printed page and cleaned; old type leaves the occasional error.