THE FAR EAST

Otago Daily Times, Issue 17944, 25 May 1920, Page 5

THE FAR EAST

FINANCIAL CRISIS IN JAPAN. Press Association—By Telegraph—'Copyright. TOKIO, May 22. Financiers are convinced that the financial situation is now well in hand. The Japan Bank has advanced 40,000,000 yen to the syndicate of banks which is. helping traders. The recent reaction is said to have been due to the abnormal war time prosperity and over-production, in the creation of wartime concerns in which large investments were made, and a decline in exports from Yokohama. The silk, cotton, and yarn markets are weaker, while the metal' and rubber markets are stagnant. The cost of living has advanced sharply. Most lines of manufactures are virtually paralysed, due to the tightness of money., Ten small banks in Osaki suspended payment until the larger banks came to the rescue.—A. and N.Z. Cable. ANGLO-JAPANESE TREATY. . AUSTRALIA'S VIEWS. LONDON, May 22. The question of the renewal of' the Anglo-Japanese Alliance is attracting increasing attention in the Japanese newspapers, particularly in reference to Australia's views. According to the Osaka newspaper Asahi there is a considerable body of .opinion in Japan which believes that Russia's collapse and the existence of the League of Nations have Temoved the necessity for the renewal of the alliance. The Asahi recognises that the dominions' views must be respected by Britain, and regrets that the experience of the great war has not allayed Australia's suspicions, and has not resulted in a modification of the Whito Australia policy.—A. and N.Z. Cable. ' THE MIKADO'S, ILLNESS. TOKIO, May 22. The Mikado's illness has caused his doctors to order him rest from official duties for an indefinite period. The Crown Prince has already begun to represent the Mikado at all State functions.— A. and N.Z. Gable. A DISASTROUS FIRE. TOKIO, May 24. (Received May 24, at 11.25 p.m.) A fire totally destroyed the canning factory Hakodate. The factory was the biggest in the Orient. Four persons are dead and several are missing. The damage is estimated at 2,000,000 yen.— Renter. EAST PRUSSIA. ACUTE MILITARY SITUATION. ' BERLIN, May 24. (Received May at 1.20 a.m.) An acute military situation has arisen in East Prussia. Junkers cherishing Separatist plans are armed to the teeth, and are believed to have tampered with the Government troops concentrated there. —A. and N.Z. Cable. -