CHINA AND MONEY !

Evening Post, Volume LXXXIII, Issue 141, 14 June 1912, Page 7

CHINA AND MONEY !

»i PREMIER'S NOTIFICATION NEARLY SIX MILLIONS WANTED THIS MONTH NATIONAL BONDS. By Telegraph.— Press Association —Copyright. (Received June 14, 10 a.m.) PEKIN, 13th June. The Prime Minister (Tang-Shao-Yi) has informed tho foreign bankers thai unless the Chines© Government receives the sum of 19,000,000 taels (approximately £5,750,000) during June he will consider himself free to borrow elsewhere. The Assembly rejected % proposal for the issue of irredeemable notes, and approved of the issue of £20,000,000 north of national bonds at 95, redeemable in ten years. [A cable message on the 7th inst. conveyed the following information: " Negotiations in connection with the Chinese reorganisation loan of the sum of £60,000,000, to which the repreeenta. tives of Britain, France, Germany, Russia, Japan, and the United States have tentatively agreed, have reached an impasse. The Advisory Council has withdrawn its assent to the terms to which the banks had agreed. The Republican Government is reported now to be endeavouring to raise an internal national loon." On the 11th inst. it was stated: "The Government approving, General Li Yuan Hung, Vice-Presi-dent of the Republic, has entered upon a preliminary agreement with the Robert Dollar Syndicate for a- 5 per cent, loan of £3,500,000, to be issued at £94 and repayable in twenty-five years. It will be guaranteed only by the provisional Government, and is intended foi the reconstruction of the Hankau native city. The syndicate hopes to profit by the supply of material."]