Flotation of Fifty Million Yen Lean by a Japanese Syntheate Tokyo, Nov. 16.
It ig announced that a Japanese banking syndicate has agreed" to float a South Manchuria Railway Loan of ¥en. 60,000,000, It is understood that the Railway] recently were in negotiation for the flotation of a loan in London, but the rates quoted were considered too high: also the biggest Japanese banks have at present much money lying idle owing to the bank last spring, when depositors in small banks'transferred their funds to. the larger institutions, Recent informal negotiations with Messrs. J.P. Morgan & Go, it is rumoured, were terminated when the United States Government dooliied to approve. such a loan being floated in America owing to the South Manchuria Railway being in disputed
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