What will these proposals We shall offer to all our creditors payment by means of bonds redeemable in 2% years but carrying no Is that likely to prove acceptable to your creditors?—Certainly not, but, as you probably know a p o-visional agreement has been signed between the French Legation and the Chinese Government, according to which the. French Government will offer to all our Far Eastern creditors to exchange their 25 year bonds bearing interest at the rate of five per cent. and redeemable in 22 years by means of the French portion of the Boxer Indemnity.
Would it not have been better for the Societe Francaise de Gérance not to open its branches until these bonds have been handed over to the creditors of the Banque Industrielle?—The agreement with the Chinese Government has to be ratified by the French Parliament and the bonds may not arrive in China until five or six months have elapsed. To wait so long would mean new unproductive expenditure and loss of time.
Why has the Societe Francaise
Text read from the printed page and cleaned; old type leaves the occasional error.