All obligations secured on salt revenue, amounting to $20,861,000) have been fully met and surplus} funds released to the Chinese Government during 1925 amounted to 365,965,000 (Including $13,284,000 received from the Maritime account. of the Refu organization Loan payments for the year).
Of thi amount some $33,- 030,000 represents locally appropriated'
vineial authorities oF mili tary commanders. These retentions, ave credited to the Group Banks by special arrangements, do elude the full amount retained Tocal authorities, the Ca viet Inspectorate having been closed n May of 1928 owing to. illegal interference on the part of the local authorities and not having reopened, and owing to the Swatow Assistant District Inspectorate having been closed in December of 1925 for similar interference, In addition to retentions made in 1924, in the provinees of Kuang: tung, Szechuan, Yunnan, Hunan, Kiangsi, the three Manchurian provinees, "Kiangst, Anhui and Ché- Kiang' part of the revenue of the provinces of Fukien, Kiangsu, Shantung, Hupeh and Shansi was also retained during the last_mon 1925 owing to local military acti The reserve of the Group Banks was maintained during the year $7,000,000.—Reuter's "Pacific Ser-
REPORTED DECFSION TO ISSUE,
Text read from the printed page and cleaned; old type leaves the occasional error.