Peking, Jan. 27.
Reuter learns that the Chinese Government has received from the Chinese delegation at. Washington (telegrams saying that the British iand American delegations. have in-: formed the Chinese delegation that the world demands a settlement of the Shantung question.
The British and American final and specific proposal in this connexion is that the Chinese Government should issue Treasury notes with a ow ey of 15 years, redeemable after five years for the redemption of the Shantung railway; that a Chinese director-general of the shantung railway should be imme-lately appointed; that under him should be a Japanese trafic manager, with Chinese and Japanese accountants; that after two and a half years an assistant Chinese manager should be appointed to acquaint himself thoroughly with. the working of the railway so that China at the end of five years could take over completely every portion of the railroad and_ retire, if she wishes, all outstanding Treasury notes.
Moreover the details regarding mines, public buildings, saltficlds, police and the rendition of the leasehold are now all worked out. in terms satisfactory to China, the last remaining question being the railroad settlement, which the Chinese Government, after exhaustive discussions last night, believes should be accepted, as the proposed arrangement is not the work of the Chinese or the Japanese delegations, but of the British and Americans as mediators, and seems fair and reasonable.
Text read from the printed page and cleaned; old type leaves the occasional error.