Lt.-Col. Ishimoto, member of the Special Service Corps of the Japanese Army stationed in Peiping, who was recently in Tokyo for negotiations on behalf of the Japanese Army jin North China with the Government, the organizing committee for the North China Development Corporation and other quarters regarding North China development, summarizes the situation as follows:
The subsidiaries of the North China Development Corporation are to be Chinese juridical persons with Sino-Japanese joint investment.
As funds required by the subsidiaries may not be covered completely by the investment of Chinese and foreign financiers, any shortage may be covered by the North China Development Corporation, provided that it does not exceed the total of the corporation's capital and its North China Development debentures, or ¥.2,100-million. The said capital supply shall be spread over a period of five years.
Text read from the printed page and cleaned; old type leaves the occasional error.