CHINA’S NEW NAVAL DOCK

Stratford Evening Post, Volume XXXIX, Issue 23, 19 May 1914, Page 5

CHINA’S NEW NAVAL DOCK

THIRTY MILLION DOLLARS LOANI ' ' ’ : / i i i. ~ ’ ■ i ( ; . LBy Electric Telegraph—Copyright] [United Press Association, j Shanghai, May 18. It is stated that in the pursuance of the Manchu pledge given in 1909, Liu-Kuaraph-Shung has negotiated with the Bethlehem Steel Trust a loan of thirty million dollars in gold, on the security of existing naval dock and heavy gun platforms in the vicinity. The loan is repayable in thirtyfive years, with interest at five 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 any stipulation. The remainder will be devoted to the construction of the dock. Yuan-Shih-Kai strongly opposes the loan, on the ground that it will damage China’s credit, and also that the dock will be dangerous to China, because of its provocation to others.