JAPANESE CRISIS.
SITUATION WOW IN HAND
(Received 10.30 a.m.)
TOKYO, May 23.
iFinanciers are convinced that the financial situation in Japan is well in hand. The Bank of; Japan har» advanced forty million yen to a syndicate ot banks which is aiding the traders. The recent reaction is said to be due to abnormal wartime prosperity, over-produc-tion, the creation of wartime concerns in which large investments were made, and the decline in exports. The Yokohama silk and cotton yarn markets are weaker, while the metal and rubber markets are stagnant.
The cost of living has advanced sharply, and most lines of manufacture are virtually paralysed owing' to the tight condition of the money market. Ten sniaiH banks in Osaka suspended payment until the larger banks came to the rescue.—(A. and N.Z. Cable.)
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Auckland Star, Issue LI, 24 May 1920, Page 5
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132JAPANESE CRISIS. Auckland Star, Issue LI, 24 May 1920, Page 5
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