Big Loan Asked for Wenchi newsprint Factory Shanghai. Sept. 21.
The Finance Committee of the Board of Trustees for the sdministraton of the British Boxer Indemnity Refund held an enlarged meeting here yesterday to consider various applications for loans. Mr. T. K. Tseng presided, and also present Messrs. R. Calder Marshall, Chen Chi-tsai, Yon Te-ching and W.
Mr. Ssutu Hsi, representing.
mistry of Industry in rection with the proposed newsprint factory at Wench, Chekiang: and Messrs. Fan Ming-hsin and Hoo Teng-chieh, representing the National Reconstruction Commission, Following explanations sentatives of the Nation! struction Commission, the approved in principle the application for a loan of £36,000 for the pur-ichaso of further equipment for " the Nanking Electric Power Works, and for another loan of £1,000 in material and $35,000 in cash for the purchase of equipment for the electrical 'A lengthy report was made by Mr. Ssutu Hsi on the projected newsprint factory at Wenchi. He said the total rapltak of the factory has been fixed at $4,500,000, of which $600,000 will be taken up by commercial shareholders. Of the Government shares lof $3,000,000. the Chekiang Provincial Government has signified its readiness to subscribe $200,000, leaving a balance of $8,700,000. Tt was proposed to apply' for. a loan from the—British Boxer Indemnity Refund, or to order the machinery for the factory from Britain, with the Board of Trustees es guarantor. In view of the large sum Involved. the "Finance Committee decided to hold another meeting on October 4 to consider the proposal. Kuo Min, christian. BROADCASTING
Text read from the printed page and cleaned; old type leaves the occasional error.