Peking, Jan. 14.
A loan for the purchase of railway cars is being signed this afternoon. The terms are as follows: Amount, $6,000,000; interest, 8 per cent.; price, $95; discount, 1 per cent.; security, part of the Peking-Hankow Railway revenue which is not mortgaged to foreign' loans. The Chinese banking group is appointing a delegate to examine the cars on delivery.—Reuter.
Pexkine aND THE Loan.
Peking, Jan. 16.
The Chinese Bankers' Association yesterday afternoon entertained representatives of the Chinese and foreign press. The chairman appealed to his guests for friendly cooperation and constructive but not destructive criticism. The Association, he said, intended to take the press into its confidence so far as possible, with a view™to preventing mistakes, and establishing mutual understanding.
Before the gathering broke up, member announced that the Railway Car Loan had been signed that afternoon. The loan is to be used exclusively for the purchase of rolling stock for the Peking-Suiyuan, Peking-Hankow,—Tientsin-Pukow and Shanghai-Ningpo railways. this rolling stock will be purchased in the open market.
The Ministry will pay the banks one-quarter per cent. of the: purchase price as a fee. The banks will appoint experts to examine the eats purchased, and will be afforded facilities for examining them half-yearly thereafter, in order to see that they are kept in good condition.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.