The Archive · 1940

Chungking Price Level Said Firm

Profiteering, Hoarding Believed Suppressed

Chungking, Oct. 7.

Steadiness of prices' here during the past few weeks is regarded in local circles as an indication of the success of the Government's. efforts to end hoarding.and. profiteering.

The prohibition of imports of luxury ies has resulted in a rise of the prices of such luxury goods, but native commodities remain at a steady level. Rice, which once sold at as much $100 per picul, is now freely available at the official rate of. $54.

"Twenty consumers' cooperatives, it was stated, will shortly be establish-Jed in the suburbs of Chungking the Social Welfare Board of the Kuomintang. Each of the cooperatives will be capitalized at $20,000, and will be formally organized on the Double Tenth, celebrated as China's Independence Day.—Havas.

Text read from the printed page and cleaned; old type leaves the occasional error.

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