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STOCKS AND HONDE NƯT HASY TU KANIPULATS – AMERICAN AGANCIRU.

There has been considerable difficulty in handling stooks and bonde and similar assets of firms as a result of the depressed condition of business generally and especially in view of the bearish result which would follow the offering of any considerable portion of such appete on the longkong stock Exchange, Gradually, however, such property is changing hands, and the liquidation of such agrets has been effected without as much loss as might reasonably have been anticipated.

In addition to changes noted in fomer reports, other business concerns of Germans have been bought or taken over by British purchasers and are now being developed as British

New American agencies are being arranged conesms. rapidly, and it is significant that most of the more important ones are either developed into branch houses or are turned

It is significant, over to substantial Chinese interests. also, that Chinese capitalists of prominence and ability are establishing new connections, and in some cases even new houses for the handling of American products,

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