S.M.C. Invites Applications for Debentures:
The Shanghai Municipal Couneit announced on Friday that under the authority of Resolution V adopted at the Annual Meeting of Ratepayers fon April 18, it invites applications for $7,000,000 debentures in the Loan of 1034." The issue price is $102% er cent, and the rate of interest 8 per cent. per annum, "The debentures in this issue will be for Chinese standard silver della Tocal currency, und will bear interest from the date of purchase at the rate Jot per cent. per annum, payable on June 80 and December 3 in each you, except that the first payment of interest will be made on' Decem-
31, 1034, The debentures will be Issued 102% per cent. and will be redeemed at par under the operation sinking fund on December 31, 1964, but may be redeemed at the option fof the Council in whole of dri part fon December 31, 1944, or on any {subsequent date subject to the Council giving six calendar months' notice the "Municipal Gazette" and the public Press of Shanghai, La the event of any partial redemption of the Joan, the numbers of debentures to. be redeemed will be decided by The Property of the Municipality and the yearly "Municipal revenue fare the security for the payment of principal and interest, subject to a prior charge in respect of the Loans 1924, 1925, 1926, and 1927 for which Sinking Funds are being operated to provide for their total redemption by December 31, 1937.
"The scrip will-be issued in demoninations of $10,000, $5,000, $1,000, $500, and $100 to suit "the conveni-fence of applicants.
"The subscription list will be opened. at 10 am. next. Thursday, in' the Loans and Banking Ofice of the Finance Department, Room 257, Administration Building, 200 Kiangse Road. Application forms can be ob-{tained from and all enquiries should bbe addressed to the "Treasurer and Controlter.
Text read from the printed page and cleaned; old type leaves the occasional error.