Full particulars are given of the loan to complete the construction of the Shanghel-Hngshow Ningpo Ral way, including the bridging of the Chien Tang River at Zahkous The bridge is already under construction aving been made by the last year and one of oan i to payment of the principal mence after five years, drawings to take place in Shanghai' three months before amortization payments fall due, "Special safeguards, it will be seen, are to be applied to ensure effective budgetary and fnaneial control, The total amount offered for subscription is £1,100,000 at the price 3 of £04 per £100 bond, interest being at the rate of 6 por cent. The loan fs secured first on the revenues of the railway itself and then on other funds available {o the Ministry of Railways, The issue of a sterling loan for railway construction on these lines is a new departure for Shanghai. It is made under the auspices of the cooperation of the British and Chinese Corporation—whose agents are the Hongkong and Shanghai Banking Corporation and Messrs. Jardine, Matheson and Company—with the China Development Finance Corpora tion in which the Central Bank of China, the Bank of China and the Bank of Communications are represented. It thus has solid backing and should rank as a first-class In-
Text read from the printed page and cleaned; old type leaves the occasional error.