The Osaka "Asahi" warmly welcomes the flotation of the new foreign loan, but the Tokio" Asahi" deliberately deprecates it. The Osaka "Mainichi" says that the terms of the latest loan cannot be said to be satisfactory, but its conclusion implies that 120 million yen, out of 700 million yon required as war funds for the next fiscal year, have been already obtained, and thinks the flotation of this loan should not discourage future subscriptions to forthcoming domestic loans.
Text read from the printed page and cleaned; old type leaves the occasional error.