Helsingfors' and 28 other. townships have just concluded a $7,000,- 000" Loan from the National" City Bank Ca. of New York for civie me provements, It is understood that the rate of interest agreed upon is {5h per cent, Bonds have been issued arranging for repayments to extend over a period of 80 years. The loan guaranteed by the Pinnish Gove Duving 1923 Finland obtained the following foreign loans: United States, $10,000,000; Great Britai £1,000,000; Sweden, $2,280,000.. In July, 1924, a loan for an additional 312,600,006 was negotiated. in. Now York by a group of Finnish banks en behalf' of the Industrial. Mort= whi loans. totalled 937,400,000 All the loans in existence fon that date had been funded. The proceeds from foreign loans hitherto have not brought any considerable money into the country, but have served merely to lessen and consolidate its foreign debt—a debt occasioned by currency" inflation after the war, by the demand for funds to repair war damages, and by expenditures of large sums for hydro-electric developments, 'During the period May, 1923, to uly, 1924, about 615,000,000 marks were withdrawn from foreigners' deposits in the banks, while during the same period the Treasury redeemed foreign loan bonds to the value of 150,000,000 marks. In ad~ dition, varies firms and private persons have reduced their debts to other countries by about 160,000,000 marks,
Text read from the printed page and cleaned; old type leaves the occasional error.