1939-08-04 — Page 4

China Mail 德臣西報 中國郵報 All

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THE CHINA MAIL, AUGUST 4, 1989.

GERMAN BANK CHAIRMAN ON SITUATION IN FAR EAST

Berlin, To-day.

There is utter confusion in China, declared Herr Franz Urbig, the chairman, addressing the an- nual meeting of the German-Asiatic Bank yes- terday.

Pointing out that the main commercial cities are

situated on rivers whose lower courses are în Japanese hands, Herr Urbig said that export trade in consequence was so small as to be hard- ly worth mentioning.

The currency confusion meant an additional setback to trade but he

"THE THREE MUSKETEERS" hoped for a satisfactory settlement

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of the currency problem as between Britain and Japan.

Everything possible had been done to safeguard the interests of the Bank but nothing could be said about the prospects.-Reuter.

The shareholders approved the balance sheet and the proposed payment of a dividend of 13 Rms. per share as against 25 Rms. last

year.

The chairman in his speech,

Tokyo Again Postpones

Tokyo, To-day.

THE Prime Minister has called off the

after dwelling upon the Japanese-meeting of the Inner created difficulties in trading, said Cabinet which was fixed. that the formula had been invent- for to-day to determine

ed that Japan had won the war, but

the way was not yet ended. It was Japan's attitude on the not possible to see how the situa- European situation, ac-

tion would develop.

The Japanese, it was true, had cording to well-informed tried to issue money through their circles, quoted by the own note bank, and to attach this Domei News Agency. currency to the yen, but as the yen itself was dealt in on the open market in Shanghai at 4 1/3d to 42d, dealings at the official pulsory rate would be very difficult.

Trans-Ocean.

:

com-

DEUTSCH-ASIATISCHE TO.. CO-OPERATE WITH JAPS? ·

Tientsin, To-day. "The Peking, Tientsin and Tsingtao branches of the Deutsch Asiatische Bank are entering into a formal agreement to co-operate with us,” declared the manager of

The agency says that his ac-- tion was only taken "after careful consideration.”

General Itagaki; the War Minister, was to have placed the views of the Army's inner coun- cil which met yesterday, before the Inner Cabinet, but it is now | expected that the Prime Minister will see the War and Navy Minis- ters separately in the next few days for an exchange of views on the subject.-Reuter,

the foreign exchange department NO NEW

of the Japanese-controlled Federal

Reserve Bank at Tientsin, Sadao INSTRUCTION Hagis ara, in an interview granted YET SENT

to Trans-Ocean.

He stated that the

merely awaited signature.

agreement

While denying that the Provin-

London, To-day Reuter learns that the Gov-

cial Government at Pelping is con- ernment's observations on the templating Federal Reserve Bank latest reports from Sir Robert control of the so-called "link sys- Craigie, our Ambassador in tem" between exporters and im- Tokyo, about progress in the porters, Mr. Hagiwara admitted Anglo- Japanese negotiations that measures to prevent the con- have not yet been despatched to clusion of export and import trans- Tokyo. Reuter. actions below the legal linking rate of 84d, per dollar-are being considered.

He declared that control of the retail prices of imports to elimin- ate profiteering is most likely solution.

a

Trans-Ocean is reliably informed that Hagiwara recently visited Pelping to recommend a přan for Federal Reserve ‹ Bank control, after the foreign exchange banks had formally opposed the plan, on the grounds that such control might be used indiscriminately ́against foreign traders. Trans

Ocean.

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