The flotation of "$70,000,000 'Szechuen Financial Readjustment Bonds was approved by the Executive Yuan yesterday, neces-sory arrangements for the issue having been completed between Dr. LIH. Kung, Minister of Finance, and Mr. Shieh Ling, Special' Financial Commissioner for Szechuen, "who left for the capital Inst night on his way to Chungking.
The bonds are secured on the Salt Tax at 6 per cent. and are to be redeemed in 12% years. Of the amount, $44,000,000 "is to be used for the liquidation of old debts of the province, which (000,000, and the remaining $26, 00,000' willie appropriated for the rehabilitation of war areas in Szechuen, Arrangements are understood also to have been completed for the redemption of $29,000,000 in notes. issued by the Szechuen Provincial Bank. A. Joan of $23,000,000 is to be given by the Central Bank for the purpose, while the Szechuen authorities will raise the remainder.
Mr. Shieh will stay in Nanking for two days before taking an aeroplane for Chungking. Final sanction is expected to be given to the flotation by the Central Political Council in the near future, remarkable celerity and completed by the Sth. Only a subordinate official, Mr. Cha Yueh, has been left in charge of the Tientsin branch office. The Bureau of Public Safety hi been transferred to. the City ministration and will come under the direct orders of the mayor. The removal was carried through in perfect order, without any kind of demonstrations or disorders; and peace and calm reign in Tientsin. departure, One would have thought that this was quite a satisfactory bit of accomplishments In such a short space of time, and in a land like China. But not at all. Japanese military circles are not in the least satisfied fand are now declaring that they still lack proof of Chinese sincerity and that the latter are continuing their policy of pin-pricks. They have even brought forward a quite new and original complaint: hat the porcelain Insulators on the Japanese military telegraph line between Tientsin and Peiping are being broken. Rather ominous, when one remembers the start of the Mukden incident in1931, Another of the famous conferences has been held by the military bigwigs in Tientsin on Friday in order fo formulate a fresh policy and to discuss "resolute" measures against these fresh acts of Chinese aggression, As a result, the wildest rumours are fiyiag about, and it is eaid that one of the new demands will be for the removal of the Pelta and other government universities from Peiping.
Text read from the printed page and cleaned; old type leaves the occasional error.