Chinese banks in Shanghai, acting under instructions from the Ministry of Finance, will refuse to accept any new notes issued by the Peiping Federated Reserve Bank, it was learned yesterday, but circumstances will force these banks' branches in Peiping, Tientsin and other cities in North China under Japanese control to accept the new notes. For the time being, in the opi! ion of local Chinese bankers. it is most unlikely that the notes issued by the Reserve Bank will be brought to Shanghai for circulation.
Text read from the printed page and cleaned; old type leaves the occasional error.