Shanghai, Mar, 1 cecion Chinese banks in Shanglal "are Curbing proitcering doing their part, in helping. foreign Here. to. reduce prices, whi ese reports reveal. It is reported that these banks have now urged all inetehants, who. put goods in. bank, godowns and morixage them for cash, (0 fake out their goods and to pay back the money ata specified time #0 that the goods may be sold n the open market, who hoard goods ing high priges have bank connections, and as the first step towards remedying. the precarious situation facing the buying public the banks have decided to exercise great care in extending credit {o merchants. Now the banks have taken a further step by_askin:: merchants to redeem their mortag goods by paying cash, Another stabilizing factor in the price-reducing movement is the willingness on the part of Chinese Yanks to grant credits to those n chants who are willing to participate the cheap sale movement, The reports indicate. that the. various trade associations are planning participate in the cheap sale movement in keeping with "an order recently issued by the Ministry of Economies at Chungking. Te learned, however, that it is difficult for the Chinese Chamber of Commerce here to open a cheap sale bureau ax mentioned In the' order The cheap sale of "broken" Salxon rice will start tomorrow. for the third time but the cheap sale of coal is has been postponed for 10 days.
is generally believed in Chinese cles that to reduce prices, the authorities should first reduce the price of rice, which is used Chinese merchants as. the criterion for fixing prices of other commodt consensus of opinion when the price of rice is conbly reduced other prices will follow a downward trend, but since in_is being sold in occupied rice= ducing districts at prices higher than before only direct negotiations between authorities concerned. may bring good results,
Text read from the printed page and cleaned; old type leaves the occasional error.