CHINESE LOAN

Wairarapa Age, Volume XXXII, Issue 10710, 30 September 1912, Page 5

CHINESE LOAN

CABLE_NEWS ( ited Press Association — By Electric Telegraph—Copyright.)

FIRST CHARGE ON SALT TAX. INTEREST AND SINKING FUND (Received September 2S, 8 a.m.) LONDON, September 27.

With regard to the Chinese loan ol £10,000,000, tho prospectus for half of which has been issued, the loan wiil bo a first charge on the Salt Ga belle, tho annual revenue from which is £729,500, half being previously hypothecated. Interest and sinking fund of the new loan will only absorb £650,400 annually. The banks supporting the loan arc Lloyd's, tho Capital and Counties, the London and South-Wostern, and the Chartered Bank of India, Australia. and China, When tho action of Sir John Jordan (British Minister to China) wa> announced, some of the underwriters were nervous, and Messrs Birch and Crisp went to the Stock Exchange, and offered, not only to relieve I com of their liability, but to pay them a half per centum commission for thentrouble. all decided to ndhero to the original agreement. BRITISH FRIENDSHIP. (Received September 28, 10.15 n.m.) LONDON, September 27.

The Daily Telegraph says: "China's leaning towards the resources and friendship of our'-Empire is not a thing to be lightly put aside. A remarkable phenomenon is that the Government at such a moment should bo found sharing with Powers which are outside the arrangement desired by China." OPINION IN JAPAN. (Received Last Night, 5.5 o'clock.) TOKIO, September 28. The press is pessimistic over the failure of the six-Power group. Tt foreshadows a dissolution of tho combination, and a re-adoption of individual .policies in China. CHINESE NATION GRATIFIED. A NEWSPAPER OPINION. (Received Last Night, 5.5 o'clock.) LONDON, September 28 There has been no public rush for the Chinese loan, but it is expected that it will, be covered to-day. President Yuan Shih Kai has cabled to tho Chinese Legation, expressing the Government's satisfaction at the successful flotation of the loan. The nation, he says, is deeply gratified, and the Republic will regard the discharge of this loan an obligation especially binding. The Statist declares that great cleverness was shown in underwriting the loan quietly,, but this will create I a bad impression abroad, and give a handle to unfriendly nations to impeach Britain's good faith.