An announcement was issued by the committee after the meeting warning all rice merchants against violating the new rule, explaining that the former 10-day delivery period would only cause more trouble to the already confused market, Those who violate the rule will be punished by the committee, It was stated that no speculation should be allowed and that in all dealings actual rice must be possessed by sellers, Suspension of business was threatened in the announcement should any member of the market be found violating the rule which will go into effect today.
Steady increase of the price of rice surprised all Chinese here as they believed that while the supply had been arriving continuously there should never be such unprecedented upward trend in price. Several days ago, one rice merchant saw the possibility of the price going up to the $50 mark, asserting that when the new crop of rice was arriving the price should not be quoted at $40 the price then prevailing in the mark. et. Before the r e increases started many months ago the normal price fluctuated around $13 per picul.
It was authoritatively learned yester that an assistant Municipal Advocate of the Shanghai Muni l Counci! had conferred, in a private capacity, with judges of the First Special District Court for the purpose of devising some methods of dealing with those who are mani-plating the rice market.
The Chinese and foreign press in Shanghai have unanimously expressed the opinion that official quarters should do something before it is too te. In addition to the increase registered in the rice market, prices of other commodities in every-day use have gone up during the past few s causing extreme concern to the majority of people here.
"Shoot the Profiteers!"
General Ku Tsu-tung, a route army commander who is directing opel tions of the Chungking forces Chekiang, has been ordered by General Chiang Kai-shek to investigate the price increase "racket" in Shanghai aad to shoot those merchants who ce-operate with the Japanese in mani-plating markets, according to a Chungking message published by a Chinese evening paper here last night. All organizations having relations with the Military Affairs Council were said to have received the order.
Text read from the printed page and cleaned; old type leaves the occasional error.