Canton, Oct. 26.
The "Canton Times" states that ie has been confirmed that a municipal loan for Canton was signed on September 23 to the amount of £2,000,000, with interest at seven and a half per cent. The price of issue will be 87} and the term. 25 years.
The purpose. of the loan is the taking over of the waterworks and the telephone and tramway systems, which the bondholders will operate until the loan is redeemed. The managing director and the assistant director will be Chinese while the chief engineer and the accountant will be British or American. My. Charles S. Paget, an American, has-been nominated for the post of chief engineer.
The agreement provides that the materials shall be - supplied by British firms.
It is understood that the loan Was first negotiated when Dr. Sun Fo was. Mayor and that the subsequent administration simply followed on with the negotiations.
The Assembly demands that this loan shall be subject to its approv-a but, the "Canton Times" concludes, the Government still refuses agree with this.
The German, de Colbert, who was recently arrested as a suspect
Text read from the printed page and cleaned; old type leaves the occasional error.