Coupons of Marconi and Vickers Loans Still Unpaid: A Call for Further Security London, Mar. 25.
Disturbing news with regard to the condition of Chinese finances has increased the alarm of the holders of certain Chinese loans, especially the Marconi and Vickers issues, both of which have fallen to 60. The Marconi coupons were due in August, 1921, and subsequently have not been paid, while the Vickers coupons were due on October 1, 1922, and are in arrear.
It is proposed to hold a meeting of holders of the Marconi issue to consider steps to obtain security from the Chinese Government.
The financial editor of the "Observer" in - this connexion points out that the revision of Chinese finances is being taken in hand and the Marconi bonds will be secured on the 2k per cent. increased Maritime Customs, revenue to be arranged at a' special tariff. conference three months after ratification of the Washington Treaty. He says that it seems that holders of the stocks can only await events, but undoubtedly China with her huge population and low taxation has ample resources to provide for all external debt obligations, if matters can only be administered by an international committee, similar to that administering the Customs revenues.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.