Chi~ese Story of Three Banks and a $4,020,000 Loan The China Times" reports that rumours have been current that the Ministry of Finance had sent an official to Shanghai to borrow $4,000,000 from foreign banks, with the Government stamp revenue as security, but that few persons knew of the nature of the loan.
As the result of '"'careful inquiries," says the "Times," we have ascertained that the Philippine National Bank, The International Bank and the Asia Banking Corporation have agreed to float the loan. In the first place, tne Ministry of Finance sent a deputy named Tan to Shanghai to discuss the loan with the three banks named. The latter refused to lend any money to the Chinese Government, because the transaction would be contrary to the Bankers' Agreement. It was suggested, however, that the loan might be floated through the merchants.
Text read from the printed page and cleaned; old type leaves the occasional error.