Chinese press reports and comments strongly urge that foreign authorities ju Shanghai should immediately take appropriate actions to cope with the extremely serious situation existing in the coal market.
It is stated that the increase of prices of coal has affected prices of numerous other commodities and businesses, its immediate bad effect being felt by several hundred boiled water supplying shops in foreign areas where the Chinese in general obtain their daily quota of drinking water. Some public-spirited coal shop managers sold small quantities of coal to these small shops. Many such shops, which were recently forced to close business, were reported to be reopening for business but it was said that it was apparent that the supply of coal was too limited to keep iheir business going.
One report points out there is ample ready stocks of coal in Shang-bai There are about 520,000 tons of coal stored in various godowns here including 60,000 tons of coal especially for making coal balls for cooking purposes, The Settlement authorities &re urged to negotiate with coal firms requiring them to sell their cargo.
Definite signs of hoarding were noticed in an advertisement published by several coal ball manufacturing factories asking their customers to remove the big quantities of cargo they bought some time ago. It was pointed out that should they fail to take out their coal balls business contracts would be nullified and money returned. One commentator pointed out that about 20,000 tons of coal balls were thus bought by hoarding customers awaiting high prices,
Text read from the printed page and cleaned; old type leaves the occasional error.