THE JAPANESE DISASTER

Waikato Times, Volume 96, Issue 15853, 26 November 1923, Page 5

THE JAPANESE DISASTER

THE INSURANCE ISSUE.

GOVERNMENTS PROPOBALB.

DOMESTIC LOAN TO BE RAISED

(Australian and N.Z. Cable Assn.! LONDON, November 23.

The Tokio Government’s proposal for a settlement of the long-pending insurance issue purports io ho a 2 per cent, loan to the. insurance, companies, amounting to the equivalent of 10 per cent, of the claims against the companies, which companies will pay. The companies are to create an organisation to which all will subscribe to guarantee the redemption of the loan. The final details are cxpeoted to be settled after a conference with representatives of all the companies. The reconstruction estimates, which received Anal sanction by the Cabinet, closely approximate to the figures cabled on November 18. It is expected that the money will be raised by a loan on the domestic market, which is believed to be able to finance the same, according to a statement by th c Minister of Finance, who added thai. if mroign loans are issued they will be issued only to preserve the balance of trade. Such issue is considered unlikely. The cabled estimates do not include the amounts to be raised by Tokyo and Yokohama municipal bond issues, but include interest, thereon. Such municipal issue is estimated at 173,000,000 yen.