Tokyo, Apr. 17 The Tokyo Municipal Council, at a plenary session this afternoon, approved a Protocol providing for the eltlement of the long pending French Joan issue, arranged between Mr, Kobashi, retiring Mayor of Tokyo, and Fernand Pus, the former French Ambassador in Tokyo.
The Municipal Council also approved two Bills providing for the oration of domestic bonds necessary for the readjustment of the French loans.
The protocol which was unanimous approved by the Municipal Couneit, provides for the payment in French Jeurreney of matured Interest coupons, and the principal of the winning lottery loans, The Tokyo Municipality will issue Jnew securities, the face value of which will be 707.75 francs, These will be exchanged with those who hold either matured securities, or interest cot pont at the Fate of 40 interest coupons, or one matured: ecurlt for each new security, which will redeemable in 25 years, and will bear 5 per cent, interest per annum,
Text read from the printed page and cleaned; old type leaves the occasional error.