Inspector-General'g Statement On Healthiness of the Securi Peking, Aug. 22, The following statement has been received from the Inspector-General of Customs:—
With reference to the recent heavy fall in the value of. Consolidated Loan bonds, which is causing a panic on the bond market, the Inspector-General has been requested by the Ministry of Finance to make a statement concerning the position of the loan service in order to allay the alarm felt by the genuine investment holders, The violent fluctuation of these bonds has been, caused by the fact that while the sinking fund is controlled by the Inspector-General and is more than sufficient to meet all interest payments it ix not yet quite sufficient to enable amortization to proceed according to sche-due, This fact has been taken advantage of by speculators whoxe manipulation causes the bonds rise and fall without any reference to the wie value based on the condition of the sinking fund, The Consolidated Loan service is n a very satisfactory position and here is no circumstance in con~ nexion with it to justify violent. bond movements either upward or downward, nor have the investment holders any present cause for alarm, The revenue balances to date nce more than sufficient to meet all interest payments at the end of the current your; funds to cover completely the redemption of the Ninth Year Loan bonds due on September 0 next are in hand, and a sum of approximately $1,400,000 is avai able towards the Urawinge of the percent. Consolidated Loan—Reuter's Pacific Service,
Text read from the printed page and cleaned; old type leaves the occasional error.