Secured on Customs: Redemption of Hupeh Bonds, Nanking, Jan. 1
A set of regulations governing the issue of a new national Loan of $20,000,000 to be known as the 19th Year Customs Tariff Loan was adopted at yesterday's meeting of the Legislative Yuan.
The proceeds of the new loan will be applied to the redemption of the Hupeh Provincial Currency Rehabilitation Bonds issued in the 16th year of the Republic (1927). The new loan, which will be offered for subscription this month, will be secured on the Customs revenue, It will be issued in three denominations of $10,000, $1,000 and $100 and will bear interest at 8 per cent, per annum, Interest will be payable on June 30 and December 31 each year and one-twentieth (i. ¢, $1,000,000) of the principal will be retired, beginning from the current year, semiannually by public drawings, the entire loan to be completely redeem~ ed before the end of the 28th year of the Republic (1989), A definite portion of the increased Customs revenue will be earmarked by the Ministry of Finance to be handed over by the Inspecterate-General of Customs direct to the Amortization Fund Committees in order to meet payment of interest and redemption of prinipel—Kuo
Text read from the printed page and cleaned; old type leaves the occasional error.