There has been a sudden decrease in the shipment of Shanghai cargo to Tientsin and other northern ports, since the Federated Reserve Bank in Peiping started to issue its own banknotes. In previous years, there was heavy shipment of local cargo to Peiping and Tientsin at this time. The reverse is the case this year, according to the "Sinwanpao."
Inquiries of Chinese merchants have revealed that agents in the north of Shanghai merchants found it dificult to carry on because of the fact that, since the Federated Reserve Bank in Peiping issued its own notes, they, the agents of local merchants, have been given the new notes in payment and these new notes are not being accepted by the Chi. nese banks in Shanghai. The merchants particularly affected at this time are in the rice and flour trade,
Text read from the printed page and cleaned; old type leaves the occasional error.