Chinese banks in Shanghai have row received orders from the Ministry of Economies of Chungking requiring them to enlarge the scope of "commodity mortgage" activities so as to prevent unscrupulous merchants from hoarding goods which fact is said to be chiefly responsible for the increase of prices in Shanghai. According to a Chinese report the institutions are required to send reports to the Ministry regarding this matter, Meanwhile, advertisements of increasing prices of many kinds of commodities continue to appear in the Chinese press but Chinese reports indicate that the rice situation here has definitely improved. Although the present prices are still very high, it is predicted that with the continuous arrival of supply no upward trend will be followed in the immediate future.
The new crop of rice in Chekiang, Kiangsu and Anhwei is now ready for the market. Merchants have negotiated for free transportation of rice to Shanghai. Rice has been arriving here by train and boats during the past few days from Quinsan, Changchow, Kashing, Wuhu and Sungkiang. It is estimated that about 8,000 ba: or sometimes 15,000 bags of the grain are arriving here daily. Prices have therefore dropped.
This rice, however, comes from Kiangpeh and is an inferior kind of the grain, It is called "hsien mei" but as to the better grade of rice there has been little improvement in the situation. The "pai en" or the first grade rice is still priced between $32 and $35 per picul.
Text read from the printed page and cleaned; old type leaves the occasional error.