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on their way, will soon arrive. The counting of the Hong Kong Notes from Chungking is proceeding somewhat slowly as the consignment contains a number of "duress" notes and forgeries. It also contains a very high proportion of notes of the higher denominations for which there is little demand. Arrangements have been made for a responsible European officer to be present while the examination is taking place.
Yen notes
The yen has to all intents and purposes ceased to be current though a few individuals who contracted obligations in yen are endeavouring to accumulate the necessary quantities to effect repayment in that currency. are beille used as gambling counters and even the small Chinese shop Leapers have given up quoting, prices in yen
In the ow and are quoting in Hong Kong dollars. Territories yen are still occasionally used for transactions of a trivial mature as the new currency is only now penetrating to the more remote areus in sufficient quantity. This position will not persist and it is considered that it would be unwise to rovive interest in the yon by 'puoliching any official notice rogardin; its demonetization. It appears to be in every way preferable to let it die a natural acatu.
The position in regard to the Chinose ilutional Doller is still potential dugor,
a
This currency has now fallen to about 1000 to 9.30 and with widely Alfforing ratos provizing 11 other parts of dilina, the situ tion offers very to.@ül-e opportunities to speculators. So far aŭ can be julgod, however, Hong kong dollars have not yet been exorted for speculative purposes on any scale. a ban on export is not practicable as nothing must be done which would discourage the entry of foodstuffs from the surrounding districté, but the export of Hong Long dollars by servics persomol leaving for other areas has been prohibited.
The quantity of hung Long dollars held in various par 8 of Mim. 12 very omilit rable ani in kucao alone it is estimated in some quarbors that there my be as much as MA,20,000,000. Discussions have taken place with the Fortuguese Authorities regarding the possibility of arrang- ing for the repatriation of a proportion of the notes.
Local Fisheries:
An adv.nes of $100,000.00 will made to the local fishing: industry (see 0.-in-d, tulogram 1884 of the 2nd Jeptember 1845) of which 950,000 was used to provide working capital and the rest on a losa bo anablo o Sters of junks to buy tuckle and provisions for orbentini
sential voyages. It becamo necessary to authorise & further advance ɔf *50,000.00 on the 12th October to provids additiona). sork- ing capital for the industry. The advances have been justi- fled by the fact that between the 5th October, when the market opened, and the 16th of that. Lonk 5,073 piqule of fish were sold. This has roculter in a fell in price particularly in salt fish. It is true that the figure is