The confusion in the unofficial Chinese government bond market 'Shanghai during the past week, which was caused by the partial moratorium declaration on foreign loans secured fon the Customs revenues which also Affected three issues of domestic bonds, is gradually disappearing with prices' fluctuating around the record Tow prices caused by the statement with differences of cents.
Informed quarters believe that unless official enlightenment is forthcoming in order to do. away with uncertainty in regard to the payment of the principal and interest of the domestic loans the record drops in prices since the hostilities will continue {o-cause anxiety among bond holders.
While holders of domestic bonds secured on the Customs revenues are thus troubled by the Chungking declaration, holders of other domestic Government bonds are a little per= turbed by the recent order requiring that the interest and principal Government bonds be pad in Chunge king only, a measure for preventing an unnecessary number of Chinese bank notes from entering Shanghai and other occupied areas.
The Interest and principal may be obtained locally if holders are willing to receive the money. in instalments. Tt is now Fumoured that some big holders have gone to Hongkong petition a high oMfcicl there for rescinding the order or to make terms of payments more favourable 10 holders.
The price of gold fluctuated during the past few days between $2,014 and '$2,020 which are still considered to be high prices since the start of hosti fies, There was a time when the price of the metal soared to the $2027 mark as the rich preferred gold to bonds.
Many Branches Opened Chungking. Jan. 22.
The Chinese Government, after estabolishing "Government banks in the South-west provinces, is planning to open, branches in the north-west provinces.
It is now estimated that the Central Bank of China, the Bank of Communications, the Bank of China and the Farmers Bank have already opened 23 branches in Szechuen, Kwangsi, Yunnan and Kweiechow.
There are in addition to branches already established at Langchow, Tienshui and Pingliang, in Kansu Province. in Sian, Ankang, Nancheng. Woman, Hsienyang, Paoki and Hsin-yang, in Shensi Province, and in Sining, in Ninghsia Province.
The Central Bank, itis learned, will open branches at Wuyuan, in Suiyuan Province, and in Wuwel, in Kansu Province, while the Bank of China and the Bank of Communications will Jopen branches at Changy!, Chiuchuan fand Wutu, in Kansu Province, and in Shanhsien and. Snitch, Shensi Province—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.