Commenting upon Mx. Fung's port and the whole procedure, Mr. Janes said:—
"Mr. Fung ignores the fact that, by the hand of their Mayor, Mr. Sun Fo, in August, 1926, the Municipality of Canton entered into a solemn contract and under the seal of their authority guaranteed to establish in a foreign bank a confirmed credit for one-third of the contract price. The Municipality failed to fulfil their obligations. Mr. Fung also states that the new contract is a saving of about $200,- 000 to the public, This fo not a fact jand I know that Mr. Fung has no "We have not failed in any respect. We have always been ready and are still ready and willing to carry out our obligations under the contract, just as soon ao the Municipality' establish the credit in a foreign bank, but, if the Municipality insist on going ahead with a contract with another company covering the same subject, then they force ne to take proper measures to redeyer loss and damage.
Text read from the printed page and cleaned; old type leaves the occasional error.