As an impossible and inoperative sop to the many protests and complaints of foreign exporters (Chinese not daring to raise their voices), the local naval and military authorities from whose offices these restrictions have emanated, a few days ago agreed to permit merchants to ship and also negotiate their documents at Shanghai at current rates, but their remittances to Tsingtao from Shanghai for these same shipments had to come through the Yokohama Specie Bank, whose charge for this transfer or remittance is approximately 40 per cent.
In other words, after selling their export documents in Shanghai at the current rate of say 8d, or U.S.$16 and realizing say a sum of Ch.$10,000—this sum on being transferred to Tsingtao through the Y. S. B. would only net the exporter Federal Currency $6000. This of course is as prohibitive as the original restriction.
Text read from the printed page and cleaned; old type leaves the occasional error.