Shanghai, Aug. 1.
The first installment of interest cent, import wut of principal on lots of the 2) per surtax, $30,000,000
Treasury bonds became due yest Jday and a joint oficial notifica was issued of Fi Janeial Commission and the 25 Per Cent. Customs Surtax Treasury Bonds Sinkitig Fund Committee in ithe Chinese papers us follows:
"As July 31 is the day on which the first instalment of interest and principal of the 23 per cent. import surtax Treasury bonds falls due, the public is requested to present bonds Jof the $10,000, $1,000 and $100 denominations of the first series to the Bank of China and the Bank fof Communications for payment, JAs to the $10 bonds, payment of principal and interest' will be de-ayed on Account of the fact that the official bonds have not been [printed owing to the suspension of the Chung Hwa Book Co.'s works. Holders of such bonds are advised to proceed in accordance with the {following regulations towards col-leetings their money. 1. Holders for subscriptions to the agencies must approach Financial Commission receipts issued by the Ministry of Finance and these must. be presented to the two banks referred to in lieu of the regular bonds for payment of the first installment of interest and repayment of principal; and 2, Holders of the $10 Treasury bonds must secure statements from their res-active issuing agencies as to the amount to be paid on their bonds {for the first installment and the issuing agencies shall report the total amounts to the Ministry of Holders of Bonds to Register The Nationalist Government of Nanking has issued a proclamation calling "upon holders of Chinese! bonds to register these for their protection. Although no registration fee is mentioned it is commonly understood that a fee of 10 per cent. will be charged, and, further, in the event of failure to register' within specified time the bonds will be When this proclamation became generally known on Monday bonds Jdropped four points, and again yesterday a further drop of halt a point has to be recorded. Chinese folders do not know what to do, failure to register may mean loss the entire investment, while registration does not necessarily mean that the bonds will be any safer or free from such additional registra-_ tion fees as the next Government, The Loans concerned are:—
Fifth year loan Seventh year loan (long term) Six per cent, consolidated loan Seven per cent. consolidated Monetary reform loan. Eleventh year loan, Fourteenth year loan, Ex-Batrisn Concessiox at Registration must be effected at the National Bond Recording Bur-Jean between August 1 and September 20, and upon registration a certificate will be issued, After the expiration of two months, presumably after Septem. ber 30, all unregistered bonds will be The compulsory registration of bearer bonds is extraordin pliance with the procla vents them any longer bei sidered bearer, but failure may en tail loss altogether.
This brilliant iden Jean only be looked at as a means of] raising money, and if this registration is to be strictly enforced it dificult to imagine what will be the Inext step to bleed the country.
Text read from the printed page and cleaned; old type leaves the occasional error.