Subscriptions' to Municipal Loan The first part of the Municipal Council's_silver loan for 1922 was successfully floated on Thursday and Friday of last week. This issue is of debentures to the extent of Tls. 1,000,000 at par, bearing interest: at the rate of 7 per cent. and redeemable in 1952, or any time after 1932 at the discretion of the Council. The scrip was issued in denominations of Tls. 5,000, Tls. 1,000, Tls. 500, and. Tls. 100, to suit the convenience: of subscribers, and at 3 p.m., last Friday only a few thousand taels remained to be subscribed.
Before the end of the afternoon the total had been secured and the loan was closed.
Large amounts were taken up by public companies, but a good proportion was called for by private subscribers, of which there were more on this occasion than in connexion with previous issues. The Finance Department is very well satisfied with the support given to the loan. 7
Text read from the printed page and cleaned; old type leaves the occasional error.