The Archive · 1924

000 Loan Still Unpaid

#rom Our Own Correspondent, Tsingtao, Fob, 29, 'A sensation has been caused hero by @ report that in view of isrogularities in the Finance Department of The Administration, full investigation will formally be ordered by the President at the instance of Marshal Wu Pei-fu, who has of late revived several telegraphic protests from local public' bodies, It is alleged that' the Department has made fic Payments against fictitious vouchers, as a result of which hugo sum tas disappeared, Tt 4 is further alleged thet other departments have resorted to. the same. practice of compiling fetid recounts. "One department is charged with having compiled its expenditure as 8270,009 against actual "payments aggregating $130,000, "a squeeze"" exceeding 100 per' cent, The Chinese here are surprised over the refusal of the Adininistration to refund the money borrowed from local merchants sion of the Wang on the retrocesformer leased ter:

Ab that time, Dr. Wang found it necessary. to' raise 100,000 for aulministrative expenses, "Unable to obtain the money from Central Government, he approach. ed the Chairman of the Chinese Chanter of Commerce thaw for temporary aesistanes, Throw the intermediary of the, Charme the money was duly advanced him, on "the understanding that it Would Bo refunded as. soon ponsible after the Administration Bad been put an good" running order.

The Chamber of Commerce hus fon several occasions approached for the r0- fond™of the, °$100, c00 "but to no avail. They have: now retaliated by coming to at ement by which, instead of paying taxes to the Administration" they.

banks, until such time' as the sum of $100,002 is, accumulated. They will then reimburse themsolven with the money, ''forgetting" question of interest,

Text read from the printed page and cleaned; old type leaves the occasional error.

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