London, May 23.
Negotiations are proceeding between Great Britain and the United States regarding a huge barter transaction, Authoritative quarters in London state that they have no knowledge of a tentative agreement having been reached, as reported from New York, for the barter of approximately 1,000,000 bales of cotton for about $50,000,000, worth of crude rubber.
Both countries, according to the New York report, would hold the commodities as war reserves, and the barter plan would involve an increase in rubber production and, thus, oblate the risk of disrupting the open market by large-scale direct purchases,—Reuter.
Hua Hsing banknotes were accepted by some foreign banks, the spokesman at yesterday's press conference asserted, but he did not know which. He referred a correspondent to the American banks when he inquired if they accepted them. He also definitely refuted the suggestion that they were handled at a discount. pointing out that the head office sold foreign currencies in exchange for them and that the Japanese banks would exchange National currency for them. So far no arrangement had been made with the Customs to accept them.
Text read from the printed page and cleaned; old type leaves the occasional error.