RUSH FOR FUNDS

Gisborne Herald, Volume LXVIII, Issue 20636, 16 August 1941, Page 6

RUSH FOR FUNDS

JAPS. IN AMERICA PACIFIC SHIPS AFFECTED SAN FRANCISCO, Aug. 4. Many Japanese “beat the gun” to save their funds and ships from being frozen in the United States. Long queues of frightened Japanese from San Francisco’s 50.000 colony gathercc, at bank windows. The freezing order was not announced until after banking hours in Washington and New York, but San Francisco time is three hours late' Most of the Japanese apparently wanted to withdraw their money and deposit it again in the names of their American-born children. The order requires all Japanese anc. Chinese in the United States to subject themselves immediately to a property census. It is officially estimated that San Francisco will lose £12,000,000 trade a year. “This means complete stoppage of the oil trade with Japan,” a Californian oil man said. At San Pedro harobur officials boarded the Nishi Maru, and stopped further loading of oil for Japan. But the Daini Oguru Maru left San Francisco with 4,500,000 gallons of crude oil. (Bond of £3OO Forfeited Another Japanese ship sailed hurriedly, forfeiting a £312 bond. It was then announced that the Tatui Maru would not come into San Francisco. For many hours the Tatui Maru had cruised 12 miles off the entrance to San Francisco Bay. She had on board 247 passengers, 100 of them Americans, and £1,000,000 worth o:, silk, the largest single consignment for 10 years, Forty-five Japanese ships bound for Arrerican ports are said to have been nove-to off the Pacific Coast. Shipping between Japan, the United States ano Britain is expected to be suspended soon. American investments in Japan are estimated to be worth £71,562,000. Japanese bends fell 24s on the New York. Stoelc Exchange yesterday afternoon, finishing at £3 10s. Silk and sugar futures soared, but wheat remained steady. The last Japanese business man has left Egypt. Only members of the Japanese Embassy remain, and they are packing up. Japan’s trade with South Africa has already stopped.