We published in these columns recently the translation of a Chinese press report that a representative of the Yunnan authorities was in Shanghai with the object of negotiating an American loan on the security of all the mines in Yunnan. Inquiry into the matter elicited the fact that the representative, whose name was Woo, arrived in Shanghai just before the Chinese New Year (before the downfall of General Tang Chi-yao, the military commander whose delegate he was), had conferences with an American, and signed a secret agreement, upon which a large sum of money is said to have been paid as a deposit.
Certain Yunnanese residents in Shanghai heard of the matter and immediately set opposition on foot. A mass meeting was held, telegrams were sent to Peking opposing the loan and requesting the Government to approach the Diplomatic Corps with a view to having the contract cancelled, and a deputation was appointed to interview Wooo to see whether or not there was any truth in the report. The deputation also visited the American gentleman and asked him to cancel the agreement well as to stop further payments.
Then the news came of Tang Chi-yao's downfall. The American representative is said by the Chinese Press to have gone to Woo demanding the cancellation of the agreement and the return of his:. bargain money. Woe had no other alternative but to comply,
Text read from the printed page and cleaned; old type leaves the occasional error.