CHINESE REPUBLIC.

Taranaki Daily News, Volume LV, Issue 114, 30 September 1912, Page 5

CHINESE REPUBLIC.

THE BRITISH LOAN. By Cable—Press Association—Copyright. London, September 27.

The interest and sinking fund of the new Chinese loan is a first charge on the sale gabelle, the annual revenue from which is £7,295,000, of which half has previously been hypothecated. The interest and sinking fund of the new loan will only absorb £050,400 annually. The banks supporting the loan are: Lloyds, Capital and Counties, London and South Western, and the Chartered Bank of India. When Sir John Jordan's action was announced, some of the underwriters were nervous, but Messrs. Crisp and Birch went to the Stock Exchange and offered, not only to relieve them of liability, but also to pay them half per cent, commission for their trouble. Practically all decided to adhere to the original agreement. The City understands that China is willing to pay off her liabilities to the Powers.

BRITAIN'S OPPORTUNITY. 8 London, September 27. The Daily Telegraph says that China's leaning towards the resources and friendship of our Empire is not a thing lightly to be put aside. It is a remarkable phenomenon that the Government, at such a moment, should be found siding with the Powers which are outside the arrangements desired by China.

BRITAIN'S BREACH OF FAITH. Received 20, 5.5 p.m. London, September 28. There is no public rush for the Chinese loan, but it is expected that it will be covered to-day.

Yuan-Shi-Kai has cabled to the Chinese Legation, expressing the Government's satisfaction at the successful flotation. The nation, he says, is deeply grateful, and the Republic will regard the discharge of this loan as an obligation especially binding. The Statist declares that great cleverness was shown in underwriting the loan quickly, but it will create a bad impression abroad and give a handle to unfriendly nations to impeach Britain's good faith.

JAPANESE PRESS PESSIMISTIC.

Received 29, 5.5 p.m. Tokio, September 28. The press is pessimistic at the failure of the Six-Power Group, and foreshadows a dissolution and a subsequent combination for the readoption of individual policies in China. THE LOAN OVERSUBSCRIBED. Received 30, 12.35 a.m. London, September 29. The Chinese loan has been oversubscribed.