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THE SUN AND NEW YORK HERALD, MONDAY, AUGUST 9, 1920.
CHINESE OPEN A STOCK EXCHANGE Equipment Much Like That of New York. Shanghai, July 1 (by mall). For I first time In history a Chinese itotk exchange hns been opened, the trftit rmng celebrated here to-day when tne Chartered Htock and rroduco Ex cMnf:o, Hhanshal, Ltd.. was formally fi general international commercial banking busi ness transacted. opened. The building Is a three atory concrete structure, valued ai approxi mately 8i;o,oou. There are offices for brokerage flrma, 1 three market halls, reception rooms and special o(TWs for the governors of the exchange, ami for the clearance, ac counting ami market i sporting depart ments, aa well as reading rooms, a li brary, restaurant, smoking rooms, a school for clerks and various recreating! rooms. JAPAN TO KEEP OUT OF CHINESE FEUDS PLAN TO RESUME AUCTION OF WOOL High Official Sa.vs Country's' New Proposals for Australian Tu tn. lion Siberian Fare. A cablegram of recent date from Vlad ivostok, Siberia, stated tht the Rus sian authorities will auction the follow ing furs during the latter part of Sep temher: N'lnetoen sea otters, six white foxes and MS blue foxes. Principal Branches Brussels, Belgium Buenos Aires, Argentina Harbin, Manchuria Havana, Cuba Manila, Philippine Island Panama City, Panama Port au Prince, Haiti Rio de Janeiro, Brazil Santo Domingo, Domini can Republic Agents and correspondents in all the other important commercial centers of the world. 'AMERICAN FOREIGN BANKING CORPORATION 53 Broadway, New York Capital! Surplus and Undivided fronts Over U.OOO.OOO Our Own Branches MOROCCO-EGYPT We maintain our own com pletely equipped branches In Morocco and Egypt. Strate gically located in Alexandria, Cairo, Tangiers, and other im portant cities, they are in close touch with trade and industry. Direct connections with Tunis and Algeria. The Arm York Agenty vill alailj , lupply (urihtr intorma.lon. Bank of British West 'Africa New fork Office: 100 Beater St. Agents: K. R. Appleby, Rowland Kmlth. Head Office London American commercial attention is focussing upon the Far East, and rightly so, because in the East are found more millions of possible purchasers of Ameri can merchandise than in any other part of the world. To American business men who are interested in this possibi trade expansion we offer the whole hearted coopftf ation of our world wide organization. The Yokohama Specie Bank Limited ESTABLISHED 1880 Capital Subscribed.... Yen 100,000,000 or $50,000,000 Capital Paid Up Yen 74,000,000 or $37,000,000 Reserve Fund Yen 44,000,000 or $22,000,000 HEAD OFFICE-YOKOHAMA JAPAN TokJo Osaka Kobe Nagasaki Shimonosekl ENGLAND London , INDIA Calcutta, Bombay ARGENTINA Bueno Aires BRAZIL Rio de Janeiro BURMA Rangoon BRANCHES UNITED STATES San Francisco Lot Angeles Seattle Honolulu Manila FRANCE Lyons AUSTRALIA Sydney STRAITS SETTLEMENTS Singapore JAVA Batavla Soerabaya CHINA Peking Daircn Hankow Tientsin Hongkong Shanghai Newchwang Changchun Harbin Fengtien Chinanfu Tsingtau Kaiyuan Saigon, Cochin China SIBERIA Vladivostok NEW YORK AGENCY, 120 Broadway Telephone Rector 2550 7 he Bank buy and receives for collection Bills of Exchange, Issues Drafts and telegraphic Transfers and Letters of Credit, etc. Mitsui & Co. Ltd. Importers Exporters Shipow ners GENERAL OFFICE 65 Broackta;?, N. Y. City Tea Dept., 87 Front Street Raw Silk & Habutai, 25 Madison Ave. ! i! HEAD OFFICE TOKYO, JAPAN A San Francisco Seattle Portland London, England' ' e Branches in Most Important Citie$ 3 I L of the WorU True Interests Lie in Neigh bor's Internal Pence. Kperta! Corrjpondttce to Tm 8ri !d Nss Yobk Hwuiu. Tokio, July 11. Political and dlplo matlc authorities of Japan are greatly concerned over the disturbing- shaft of suspicion which have been directed from many quarters against the pledge of the Nippon Government to maintain strict neutrality In China's Internal feud. Th situation has become so acute re cently that a high official of tha Foreign Office, In an Interview, while defending the good fnlth of Japan, reiterated em phatically the statement that Nippon's true Interests He in tho upbuilding of a united and strong China. "Within recent yars every tlmo trouble broods In China," h said, "it recurs, as If by tho dictate of fashion, that Japan Is suspected of taking a hand In hatching the plot or engineering It. The reason la not far to seek. It Is due to the Influential position Japan has se cured In China, to the unfairness of her critics nnd to the presence of undeslr. able Japanese, whose misguided actlvt ties lend materials for such suspicion. "In the opinions of the prejudiced critics of Japan, her neighbor's con tinued sad plight Is due solely to her machinations. To explain the protracted feud between the northern and southern factions of China these critics propagat cd many stories based on concocted evl rtencee, working suggestions lo th ef teot that Japan sided at one time with one faction, at other times with the other, for the purpose of keeping alive the political strife In China. This In spite of the repeated earnest warnings Japan gave, In conjunction with other Powers, to both- factions, and the best endeavor she put forth to compose their uuarrels. "It must be remembered that the Peking Government Is the only :ecog nlzed government with which Japan can deal officially, while there are many Japanese private citizens who sympa thize with the Southern faction. Work of Adrenturers. "The foregoing "false allegation of Japan's bad faith Is rendered plausible ly the surmise that the Island Empire can best fish tn the troubled waters of China. Decidedly absurd as this con jecture Is, It Is well to recognise the fact that such suspicion exists In the minds of many Americans, and grace fully to concede that this lack of confi dence In Japan Is In part a penalty she must pay for her high handed diplo macy of 1915. Nor should the fact be Ignored that there are In China not a few Irresponsible Japanese who. bred In the ways of 'feudal days and being completely uninfluenced by the enlight ened opinions of the world, become the willing agents of ambitious schemers of China and Japan, and thus work a great harm to the name of Nippon. These evlldoeis . ;ild be brought un der the control of lh Tokio Govern ment "It is the steadfast pursuance of the sound and liberal policy toward China which the Hara Ministry Is now pur suing that will ultimately win for Japan the confidence of the outside world. Japan's true interests lie In the up building of a united and strong China and in her healthy development. Just as America's Interests in her neighbor be yond the Rio Grand are best served by the firm establishment of law and order therein. "A serious disturbance Is now occur ring In Northern China, and again ru mors are spreading that Japan is pull ing the wires In the affair. A statement of tne Foreign Office categorically de nying the notoriety, said : " Since the outbreak of the disturb ance in Hunan, which had every prom ise of still further complicating the po litical situation In China, the Japanese Government have maintained an atti tude of strict neutrality and Imparti ality, warning their officials and sub jects residing in China against any ac tion that might be taken for interference in political strife. As was feared, the situation has now been aggravated to a point where the provinces of Northern China are threatened with dire evils of military conflict, the results of which nobody can foresee. " 'As is usual In a situation like the present one, rumors have been sent afloat that a certain group of Chinese have approached Japanese capitalists with a secret demand for war expenses and more recently It has been alleged that the Japanese Government are cov ertly backing one faction against the other. " 'These rumors concerning the part which Japan Is wantonly represented to be taking In the development of dis turbances have given rise to so much misunderstanding that It Is even said that a conferenc to going to be held for tht purpose of lodging a protest with the Japanese Government " The Japanese policy of non-interference and impartiality toward any In ternal feud of China has on many occa sions been declared. It may not, how. ever, be amiss at the. present moment to declare once more that the attitude of neutrality has not been and will not be changed, that necessary Instructions to that end have already been given to the Japanese civil and military officials in China and that the rumors and alle gations above mentioned entirely groundless. " 'A for the Japanese miliary officers who are In the employ of the Chinese Government for the purpose of training the frontier defence army, nothing Is further from the truth than the inference that Japanese military authorities are through that medium interfering with the Internal political disturbances of China. " These officers belong to training schools, which are quite independent from the frontier defence army Itself and are therefore far removed from an semblance of Interference In the mobili zation or distribution of that army. Thev were, moreover, instructed by the Japanese Government at the outset of the present disturbance to nave abso lutely nothing to do with the activities of the army. The Instructions have been faithfully followed by these officers.' " Clip Made by tho Trime Minister. Muiouaxi, July 1 (by mall). A ref erendum upon the proposal to eontlnus control of Australian wool after June SO, 1120, tke date of expiration of the contract with the Imperial government, through a. pool directed by representa tives of growers, brokers and the Com monwealth Government, failed to bring out a sufficient number of favorable votes. New proposals have been made by the Prime Minister for the resumption of auction sales after October 1, 1920, under restrictions whlih would prevent the wool owned by the British Government being sold In competition with the 1020-31 clip, which would be free of Government control. The main features of the new plan are as follows: Export of 1920- 21 wool to be prohibited until October 1, 1920; public auctions of wool in Australia (new clip only) to be resumed after October 1, 1920 ; and auctions of Australian wool In London to bo suspended from October 1, 1920, to May 1, 1921. About 1. SOT, 000 bales of the four clips acquired by the Imperial Government re main unshipped In Australia. Of this amount 500,000 bales are low grade. It It provided In the new proposals that t ie 600.000 bales of low grnde wool shall not be shipped until after May 1, 1921, un less the British Government Is sble In the meantime to sell It to the Central Powers at three times It appraised price, taking payment for one-third in gold and two-thirds In three year bonds, against which negotiable certificates could be is sued to Australian gTowers who wish to anticipate the distribution of dividends i Australia being entitled to half the profits on pool wool sold over ths ap praised prices). It is expected that the remaining 1,000,000 bales of British wool can be shipped before October L This wool. In addition to that which is now unsold in England (approximately 800,000 bales', would be held off the market for six months from ctober 1, 1920, to May 1, 1921, during which time the 1920-21 clip could probably be sold at the Austra lian auctions. After May 1, 1921, what ever small amounts of 1930-1 wool re mained would be Hold concurrently with British owned wool, cither here or In London. Wool brokers say that they do not j think sales of wool will he resumed here , before November to any extent. Much will depend upon shipping. Foreigners will not buy wool if they cennot take it away, and probably no British ship ping will be available for 1920-21 wool. ; as it Is understood that the Imperial j Government's wool will absorb all tho capacity of British shipping until after the end of the year, at least. Heavy rains have fallen In parts of Queensland, but drought conditions are still very bad In other parts of Queens land and Its New- South Wales, where the number of lambs this year, it is es timated, will be one-third of normal. Rains have also fallen In Victoria and South Australia. FOOD PROBLEM NOW FACED BY JAPANESE Production Xot Enoupli Meet Needs of Population Which Shows Bitf Gains. to Will Develop East Indian Port. The Karachi Building and Develop ment Company (Ltd.) has been organ ized In Karachi, India, with a capitali zation of about (3.250,000. The primary object of the new concern will be to as sist in ths development of the town and i port of Karachi by acquiring and open ing up land and by progressive devel- ment and constructional work. It plans I to Include In Its management staff archl- tectural, engineering and constructional experts, and In Its equipment manual, steam and electric plants of the latest types. Tokio, Aug. 8. The gravity of the food question In Europe finds its echo In Japan, where the problem of how to feed the population, which is increasing annually by 600.000, Is becoming yeany more pressing. JeDen has ample living space ror tis people but cannot produce enough food for them, especially itce. jsivery dii oi land Is cultivated to the limit. The land of Formosa, the island colony, is wornea to its full capacity by the two million Chinese farmers, who cultivate the rice fields with great skill. In Corea also the grain harvest Is considerable, though the failure of the Coreans to use fertil izer prevents greater harvests. To meet the food menace Japan, by a special arrangement with France, la making heavy rice Imports from Indo china, This Is a costly operation, how ever, the Japanese Government losing 820,000,000 last year In supplying Indo china rice to the Japanese people at a moderate price. A solution to which the Government is turning Its attention Is that of in ducing the people to eat less rice and more wheat because of the great wheat field of Manchuria, which would be ample as a food supply If the people would eat wheat. The enormous out put Of Manchuria Is handled by the South Manchuria Railway, which art the same time transports yearly some 300, 000 Chinese coolies from Shauntung Province to Manchuria, where they labor In the rice lands of the northern prov ince. Siberia, In tha great belt extend ing south from Irkutsk and Omsk, Is a wonderful grain field, If regularly cul tivated, capable of helping in the solu tion of the world food problem. "The great grain centre of Winnipeg. Canada," said a leading Japanese busi ness man to the correspondent, "bids fair to be rivalled one day In world Im portance by the city of Harbin, on the border of Manchuria and Eastern Si beria. Harbin U admirably situated to handle the grain arteries of the Far East and I predict a great commercial future for that city." Ceylon to Hare Motor Show. United States Consul Robert L. Kelssr, stationed at Colombo. Ceylon, reports that an automobile show will be held in Ceylon during January, 1821, to Which American cars will be admitted. He suggests that American manufacturers of high grade automobiles Interest them selves In this opportunity to display their cars, as there is a general Impression in Ceylon that the highest grads of Amen- I can automooiies is represemeu ay can retailing at less tha- 12.300 in the United States, due to the fact that the entire Importation of American automo biles, which represents 90 per cent of the total importation, has been cars of that grade. VfVH I 'Japanese Railroad Receipts Grove. t The receipts of the Imperial Japansss Government railways during the fiscal year ended March 31. 120, of 1(2,833, 873 yen from passenger service and ' 130.097.08 yen from freight represent ! an Increase of 35 per cent for passenger j and 21 per cent for freight oVer the re : celpta for the previous fiscal year. Dur ing this period 311.118.014 passengers and 67,418,000 tons of freight were car ried, compared' with 848,687.888 passen gers and 61,4(3,467 tons of freight dur I lng the previous year. SWEDEN VISIONARY. Socialisation of Industry Sooght by Government. Stockholm, Aug. 8. The new Social ist Government has appointed a com mittee to Investigate the possibilities of socialising certain lines of Industry, snd whether. If possible, such a step would prove sdvantageoua for consumers and society generally. Premier Branttng, Sweden's first Socialist Premier, em phasized "the necessity that socialization In no manner must result in decreased production.' Premier Brantlng pointed out that the committee will pot deal with ths ques tion of systems tic socialization of pro ductlon, "this being fsr from ths aim of the present Cabinet." mm m.mmmmu0tmMt IB i JSf Ma (aavVaa iVJtatfflfij aaanWea. lb' 1 'tk aaPWaaWWaaaWaW Hi W" W mm niJaB8aRs18PW . .... , u- ,,' iki!MabsaiaHsB8nlnH mm gsnK si- - 1 HK I ! VaaBasaaaxiiito THE fSllK jlo Of course there are many large es tablishments in Japan which produce riclrsilken fabrics for the markets ofthe whole world, but every farmer's wife weaves remarkably fine cloths whenever she. finds:. an interval from household or field duties. fanVanWYOgiBJaW sn6HxR(XAi Vv xts, BSBKmRlBTanrgzl HT zT666l fUAA. 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