London, Oct, 7.
"The Times" City editor comments to-day on the Nanking Rail-Way Ministry's notification to the Railway Administration that it, now accumulating funds for purpose of meeting loan obliga: Zions in default, in connection the 5 per cent. Tientsin-Pukow Railway loans of 1908 and 1910.
He says that the announcement is good as an indication that the Chinese Government has begun to Foreign loans in default." Howeve Hention to. the matter of
as the announcement stands, it only be received by bond holders with the most qualified approval. Firstly, the annual amount is very small, the relation to the defaulted sums; secondly, the contingent tight of holders' of these loans to charge on Chinese customs still rently will not be accorded.
hina's. neglect to permit the Customs revenue to be allocated to! the service of these loans, as well vas to the Hukusng Railways loan, Is a clear breach of contract, he
Text read from the printed page and cleaned; old type leaves the occasional error.