THE EAR EAST

Southland Times, Issue 18756, 17 December 1919, Page 5

THE EAR EAST

PACIFIC DEVELOPMENT COMPANY. LOAN TO CHINA. (By Telegraph.—Press Asm.—Copyright.) (Australian and New Zealand Cable Assn.) NEW YORK, December 14. President Bruce, of the Pacific Development Corporation, has issued a statement declaring: “We have loaned China five and a-haif million dollars, secured by surplus revenue on wine and tobacco. We contemplate additional loans 6n the condition that the Chinese Government appoint an American Associate Inspector-Gen-eral. The loan has not any political significance. We are only devoting our energies to develop American trade in the Orient. The Pacific Development Corporation has no connection with any international financial group. We hope to develop a market for Chinese securities in America.” BOYCOTT OF JAPANESE GOODS. PEKIN, December 14. The teachers at Government schools and colleges have decided to leave their posts unless the question of their salaries is adjusted. Some teachers have not drawn pay for three half-yearly periods. Others have been paid in depreciated currency. Chinese ■tudents are searching shops in order to prevent the sale of Japanese goods. JAPAN'S DEFENCES. REORGANISATION OF ARMY. NEW YORK, December 15. The Chicago Tribune's Tokio correspondent says it is understood Japan is making plans for the adoption of a 150,000,000 dollars naval budget and the reorganisation of the army.