No Payment of Hukuang Coupon'
Due in December: Shortage of Funds to Meet Interest In July last the Chinese Government advertised in that the orders suspending payment of principal when drawn for redemption and interest on the bonds of the German issue of certain loans were cancelled and that the full service for them had been resumed. The issues in question were the Sterling Loan of 1896, per cent. Gold Loan of 1808, the 5 per. cent. Tientsin-Tukow Railway Loan of 1908, the 5 per cent. Tientsin-Pukow Railway. Supplementary Loan of 1910, the 5 per cent. Hukuang Railways Sinking Fund Gold Loan of 1911, and the 5 per cent. Reorganization' Gold Loan of 1913, 4
The Hukuang Loan coupon was due on December 15 Inst, but has not yet been met—neither German nor any other issue, The coupon of the Tientsin-Pukow Railway Loan was due in October, and while the still outstanding. The only intion that has been given to ex-this default seems to have appeared in a Berlin commercial newspaper, this being merely to the effect that owing to shortage of funds the Chinese Government would be unable to meet: their obligations at the moment in respect of the Tientsin-Pukow coupon, The German Coupon In regard to the Hukuang bonds, these were issued by a four-nation group, British, American, French end German, the original' security being a charge on certain provincial revenues, It is understood that for the past three years the coupons have never been paid until after due date, and it is generally believed that the Government has in the past found money from other sources to meet the interest. While this year the interest is again overdue, it is stated that efforts are being' made to secure the necessary funds, but this ix an entirely unofficial statement. Furthermore whether it is gain proposed to leave the German
Text read from the printed page and cleaned; old type leaves the occasional error.