Nanking, Nov. 4 The Kiangsu Provincial Govern. ment has secured a loan of $7,800,000 from a banking syndicate in Shanghai (on the security of the Kiangsu Provincial Water Conservancy Loan. of $12,500,000) under an agreement Signed" by representatives of the Kiangsu Provincial Department of Finance, and the banking syndicate, The banks composing the syndicate and their share of the loan" are follows: Bank of China $1,800,000; Bank of Communications $900,000, Postal Remittances and Savings Bank and the various member-banks of the Native Bankers' Guild $500,000 each; Shanghai Commercial and Savings Banke $300,000; The Kiangsu Bank, the Joint "Savings Society of the ¥ien Yien, "Kincheng, Continental and China South Seas Banks, and the Kiangsu Farmers Banks " $250,000 each, The Manufacturers Bank of China, the China State' Bank, the Chekiang Industrial Bank, and the National' Commercial Bank' $200,000 each; The Tung Lai Bank, the National Industrial Bank of China, the Laid Bank of China, the Sin "Hua Frost and Savings Bank, and the Commercial Bank of China $180.00
The agreement was signed by Inv. Hou Hou.pel, Secretary" of the Kiangsu Provincial Department of Finance, on behalf of the Provincial Government; and Mr, Hsu Pao-ying, General Manager of the Kiangsu Bank, on behalf of the banking syndicate.
According to the terms of the agreement, the loan is to bear in= terest at eight per cent. per annum, and ig to be amortized in two years. Drawings for redemption of the Loan are to be held in March and Septem. ber each year, Beginning this month, November, the loan is to be paid over to the Klongsu Provincial Department Finance in ten monthly instalments of $780,000 each.
'Three representatives, two from the banks, and one "from the Native Banks' Guild, will serve on the Committee for supervision of the employ~ ment of the proceeds of the Water Conservancy loan—Kuo Min,
Text read from the printed page and cleaned; old type leaves the occasional error.