The standing of the 2b per cent. surtax bonds is most ing. The first issue is at par and there fare no sellers. The second is has reached 84. Tobacco bonds are not on the market because there Jare no sellers. The $40,000,000 First Rehabilitation Loan, which is }being sold abroad to Chinese overseas has found a ready response in Manila, other places not having been heard from.
The standard Reorganization /Bonds (British Issue) were quoted on Jane 1 at 63 with coupon of JOn June 28, this issue stood at 65 with coupon, The: dividend of £24 was paid at the end of June. and yesterday, the issue was quoted in London at 64 without coupon, a n Jot" 34 points over June 1. market was reported to be. frm.
The rise in domestic bonds been marked and a large volume of }business has been done locally. The following issues ere typical:
Say 4
Admiral Yang Shu-chuang, speak Committee on Public Debts:—Do ing on belmif of the Government straighten out and classify the caum. Council, Feminded the Conference try's outstanding debts and to sul members that, with the occupation mit plans for contracting now loans, of Peking by the Government, there Committee on Currency:—Do. must be a new otlentation standardize coinage and to draw up financial policy." Eac' province had regulations governing the organiza 2 different system of collecting its id: operation of banks, ex-revenue, and there wan no central shanges, ete. tation of control, General Liu Chi-wen, representa.
How to Allocate National and tive of the Military Council, pledged Provincial Revenues, the Military Council's support of the uly: 4 Conference's. work in. centralizing ented of the county's ance the sub-committee meeting ering the reduction et te Gov "was now con yesterday morning the system pro-
ment forces. 30 at to facilitate Fatt yati Fann: demarcation of national aad. the unification of finance, provincial revenues was passed Mr, Chang Shao-yung, on behalf saa remus of the Conference members; said That it was confidently hoped that tion of finance were lil accept. Spt oats wee with the conclusion of the Northera cis Set ein The general session in the Expedition and with the leading military commanders in favour of reducing the size of the Army, the Conference would be able to work ference recently held at Shanghai. oura satisfactory scheme of finances] Sina, control. Mr, Chang expressed: the ed by the Ministry and local and hope that the relations between the provincial authorities and by Provincial Governments and. the Central Government would be sathefactorily adjusted by the Confer-fence. He also pressed that the question of a. National Budget be discussed and recommendations thereto made to the Government.
Separate Committees will be appointed to study the recommenda Hons submitted to the Conference by the various members.
Text read from the printed page and cleaned; old type leaves the occasional error.