$70, Millions to Be Xssued Next Month Secured on Customs Nanking, Aug. 21. at of regulations governing, the issue of Treasury bonds' to the amount of $10,000,000 to be known the Disbandment Treaswy Bonds of, the 18th Year of the Republic of China (1929) was passed yesteniay's meeting of the Legisla five Yuan, The bonds will be issued in three denominations of $10, $100, ind $1,000 and will bear interest at 7 per mille per month beginning, from ext month. In order encourage subscription to the bonds, however, a discount of 2 per cent. Will be granted to subscribers.
Payitent of both principal and interest will be completed by the fend of the year 1097, in 100 inttalments, Funds for the amortization of the principal and payment a interest will be remitted monthly by the InspectorateGener! of Customs to the Committee in custody of the sinking funds Some of the regulations are as follow:
Art, 8, These Treasury bonds: shall be for the purpose of meeting: military reorganization and disband. ment expenses determined upon the National Military Reorgranlza~ tion and Disbandment Enforcement Conference and also for the pose of meeing deficiencies military expenses incurred during the period of enforcement of the national military reorganization and disbandment programme, Customs as Security Art. 7 The amortization of principal and payment: of interest of these Treasury bonds shall be: distributed and spread over. 100 months; Degiaming from the oth month of the 18th year of the Re~ public of China (September, 1920) one one-hundredth part, of the prin~ cipal shall be redeemed monthly, Art. 8. The amortization fund of thee "Treasury bonds shall be appropriated from the increased Customs revenue and placed in the custody of " Sinking Fund Committee designated for the custody; of th funds on behalf of the Ministry of Finance; the appropria: Yien shall be remitted by the In apectorGeneml of Custos on the 26th day of each month through the Central Bank of China to the cus tody of the said Committee for meeting the regular payments, Avt,12, These Treasury bonds may be mortgaged, bought ox sold; they may be used as security for! the xewerve funds of banks, When ever necessary, they wed as security in connection with other public transactions, As the Government's Disbandnent programme will shortly be carviel out, the Commanderin-Chief's Headquarters which is essentially 9 wartime organ, will be declared abolished in the course of next month, Staff members of the Headquarters who: have proved themselves. competent will be trans ferred to the Central and 1st Dis-panelment Distriets—
Text read from the printed page and cleaned; old type leaves the occasional error.