Categorical Refutation We reproduced from the "Stnwan pao" last week a report that the British American Tobacco Ca. were lending $5,000,000 to Peking—at the same time expressing strong doubts as to the truth of the report.
These were well founded. Last Friday thie B.A.T. in Shanghai received the following telegram from Mr, Jeffress, the travelling director from England, who ¢s now in Peking:
"Please advise foreign and native newspapers that reports of any negotiations whatsoever between the Government and ourselves ave absolutely untrue. I am in China on a tour of inspection and have not approached or been approached by any Government department with the object of entering into any agreement or making any loan—JEFFRESS.
Tt need hardly be added that no negotiations of any kind have taken place in Shanghai. There is no truth in the story whatever.
The Chinese Press last Friday published the following rather humorous statement:—a "Owing to popular opposition by the Chinese, the British American Tobacco Ca. managers have notified Mr. Chow Tze-chi, Minister of Finance, that the loan can only be signed upon receiving the approval of the Board of Directors in London.—Another telegram states that the Cabineb has issued a denial regarding the alleged loan."
An ingenious way of correcting No Control Ne Loan Peking, Jan. 6.
The proposed loan of $4,000,000 from the foreign banks is making no progress. According to Chinese officials, the banks want the night to supervise expenditure of the money embodied in the agreement, while the Government,—though willing to accept such supervision, objects to an official acceptance of the principle involved.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.