Ogden Standard-Examiner | 1920-04-23 | Page 1 | Jap Silk and Rice Exchanges Reopen

JAP SILK AND RICE EXCHANGES REOPEN NEW YORK, April 23- The New York branch of the Yokohama Specie bank announced today that it had received re-ceived cable advices from Tokio to the effect that the Tokio and Osaka stock exchanges as well as the silk and rice exchanges which had been closed on account of .financial conditions obtaining obtain-ing In Japan were reopened on April 19. Further advices explain that the bank which closed Its dc-fvs as the result re-sult of financial conditions was the Ma-suda Ma-suda bank of Osaka. Its branches at Tokio and Nagoya were also closed. The failure of the bank which has devoted de-voted its activities to financing brokers brok-ers and to promotiong new companies was ascribed to tho overspecu'ation which has been going on in Japan for some months.