regard to the issue of $9,000,000 tures recently authorized by the anghai Municipal Council at the price of 99 per cent, and bearing interest at the rate of 5 per cent. per annum, the Treasurer and Controller reported that of this amount. $3,000,- 000 was offered to the public on Monday. July 5 last and was mediately taken up, the list of ap-Plications being closed within five minutes after the opening response to the offer of m made to the holders debentures in the 6 per of 1925 having been factory, the tota to the Loan through public subs tion and by way of conve amounts to $8,880,600. The b: ance $119,400 has been. rose ye eas holders of the 6 per cent loan of 1925 who may exercise the option of conversion into 5 per cent loan of 1937 up to August 7 next.
The issue included an allotment to positors the Municipal Invest-in
Text read from the printed page and cleaned; old type leaves the occasional error.