CHINESE LOAN
an official denial.
0/ Telegraph-Press Association— Copyright (Received May 22, 10 p.m.) PEKIN, May 22. Liu Kuan Hsun{s negotiations for j Bethlehem Steel Trust loan are officiallly denied.
A message from Shanghai on May 18bh said It is stated that in pursuance of a Mauchu pledge in 1909, Liu Kuan Hshung has negotiated with the Bethleim Steel .Trust for a loan of thirty million dollars in gold, on the security of the existing naval docks at Foochow, for the construction of a naval dock and heavy gun platforms in the vicinity. The is to be repayable in thirty-five years, with interest .it the rate of 5 per cent, and a discount of 8 per cent, to the floaters. One-third of the loan will be paid to the Government within three months without stipulation, and the remainder is. to bo devoted to the Construction of the dock. The President, Tuan Shih-kai, strongly opposes the Joan on the ground that it would damage China's credit, also that the dock would be dangerous to China because of the provocation to others. It is stated that Chinese naval experts recommend the application of the loan to the building of gunboats for coast defence. the suppression of jiracy, and for inland waterways. >
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Bibliographic details
New Zealand Times, Volume XXXVIII, Issue 8740, 23 May 1914, Page 6
Word Count
209CHINESE LOAN New Zealand Times, Volume XXXVIII, Issue 8740, 23 May 1914, Page 6
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