Many Chinese merchants in Shanghai can hardly be expected to pass the Mid-autumn Festival (September 16) safely because they have suffered a setback in business, chiefly due to inconvenience in communications caused by the blockade. Reviewing the local Chinese trade situation, the Shing Sheng News Agency pictures a gloomy outlook for the mid-autumn settlement day, asserting that the days of the "consumption prosperity" have now passed.
It is explained that there had been 'a trade boom in Shanghai following the conclusion of the hostilities here, but with the closing of the Indo-China and Burma routes and the blockading of coastal districts, native goods manufacturers in Shanghai have not been able to develop their sales in the interior Having bad debts, some factories have been forced to close. More factories and shops have recently been closed, the report states.
As it is difücult to get back loaned money, the Shanghai Office of the Joint Office of the Four Government Banks is said to have been very restricted in granting credits to merchants as a counter policy against speculation and profiteering. Only smaller sums have been granted, as compared with before. In August, the sum advanced to merchants among the rocks.
attempted Italian drive.
Text read from the printed page and cleaned; old type leaves the occasional error.