Uncertainty prevailed in thè Shanghai Rice Market yesterday when the new rule enforced by the Control Committee requiring all merchants to deliver goods in three days and not 10 days and to deal in actual goods, only went into effect because buyers were hesitant to accept offers. Both the peak and smaller prices were called in the market and on the whole the situation showed some improvement as high prices were not likely to be accepted, which fact resulted in fewer transactions. The price stayed in the Vicinity of Friday's figure, $46 per The Chinese evening press stated that improvement was expected. It was said that rice merchants themselves did not wish to sell their cargoes at high prices. Hoarding activities outside the market soon after the arrival of cargo mere partially blamed for the confusion. Tt was pointed out that the price of rice in the interior was about $20
Local Chinese are not only perturbed by the high price of rice, but. also by increased prices of other commodities of daily use. Prices of wood fuel, coal and peanut oil have been boosted to such an extent that they are now beyond the reach of the average Chinese resident. It was reported that a large quantity of peanut oil needed by the Chinese for cooking vegetables would soon be shipped from the north. It is therefore expected that the price might drop a little.
Text read from the printed page and cleaned; old type leaves the occasional error.