The Archive · 1939

Hua Hsing Notes Not Accepted

Business Dealings Only in Japanese Banks Yen Registers Improvement After Decline

Shanghai, May 25. SHED whether his bank would accept Hua Hsing bank-notes, the manager of one of the leading foreign Banks in Shanghai told a "North-China Daily News" reporter yesterday that the best way to find out would be for one of the bank's clients to present some of these notes to' the receiving teller in which case he would find that the new currency would be refused, Other foreign bankers interviewed yesterday unanimously indicated that they would refuse to handle the new bank-notes and one of them ventured the opinion that the foreign bankers who were reported by. the Japanese spokesman to be handling the new issue were the Japanese banks doing business here.

As will be recalled, the spokesman Jon two occasions stated that the new feurreney was being handled by cer tain foreign banking institutions, but pressed further regarding the identity Jor these banks, he declined to give their names.

Text read from the printed page and cleaned; old type leaves the occasional error.

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