"Fortunately most of China had' good crops in 1927 and no work had to be provided simply to give work to these without other means of support. In Shantung alone and small part of south Chi there bad crops necessitating wor's relief such as was referred (0 in proceeding paragraph. On the whole, food was cheaper through the country at the end of 1927 than a year ago. The disorders of 1927 did not seem to diminish the daily output of the men on our work.
"Loans from the Commission have been available only to those societies loans amounting to $28,365 have thus been granted, making the total number of loans granted since the bennning of our ce-operative work involving a total sum of $60,795." The standing of loans ax fon December 31, 1927, is shown in the following table: Outstanding-not due 17 $6.898.00) JOutstanding-due date extended 38 15,464. Dae and fully repaid 62 38492.32
Total
Text read from the printed page and cleaned; old type leaves the occasional error.