Peking, Sept. 26.
It is understood that, at the last moment. the promised loans from the Chinese banks to Mr. Chang Hu failed to he handed over - before the Mid-Autumn Festival and hence the Government was only able to pay the gendarmerie 70 per cent., the police 80 ver cent. and the staffs of the Ministries 30 per cent. of a full month's salary. Owing to his failure to fulfil his promises, it is reported, Mr. Chang Hu is desirous of resigning. According to some reports, the Minister of Finance has already departed for the Western Hills.
The Peking Chamber of Commerce, after a meeting with Government delegates, to-day decided to organize a commercial bank with a capital of $1,000.000, for the redemption of the copper notes. Probably the old notes will be redeemed at a discount and then destroyed. At present no one is willing to accept copper notes, even at 40 per cent. of their usual value.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.