Hua Hsing Commercial Bank notes in circulation on July 15, five days before they were "divorced" from the Chinese Nationalist dollar, totalled Yuan 949,167.20, the institutions bimonthly statement issued on Monday revealed.
This represented an increase of Yuan 341,738 compared to the amount in circulation on June 30, the announcement said. In circulation on July 15 were Yuan 924,922 worth of notes and Yuan 24,245.20 worth of subsidiary notes, the statement declared.
The highest amount in circulation during the first half of July was 949,167.20, the lowest Yuan 607,429.20 resulting in an average of Yuan 818,- 107.30, The increase in circulation was attributed by the Hua Hsing Commercial Bank to payments by the "Reformed Government" in the institution's notes and to commercial loans, British Position Dimeult London, July 19.
With the Chinese national dollar ropping io a new low today, the British Cabinet considered the advisability of further replenishing the depleted British contribution to the Chinese Stabilization fund.
The present Anglo-Japanese conference in Tokyo has placed Britain in an awkward position in respect to the Chinese currency situation, financial experts explained. Should Britain discontinue supporting China's currency, Japan's prospects of estabolishing an economic monopoly over North China and the Yangtze Valley would be considerably improved, the experts asserted.—United Press.
Text read from the printed page and cleaned; old type leaves the occasional error.