The Finance Committee of the Frenchifunielpal, Counc! met on Aug. 26 to hear the report of the Director fof Finance on the. result of the 0 er cent, loan of $2,600,000, nominal, ut up for public subscription on Aug. 25.
As was the cage with the previous issue, in. 1034, the loan was amply over-subscribed, The number Gebentures subscribed by Important foreign and Chinese banks, as well a (by diferent "associations ang a certain number of individuals, vas far beyond the number of bonds disposable.
The Municipal Council,—desiring to meet all subscribers ' with not tore than 20. debentures have [deducted a certain number of bonds which were reserved for the Munl= cipal Savings Bank, The "North-China Herald" under~ stands that the recent French Municipal Council loan was under written by a syndicate made up of Toeat banks and the firm of Swan, Culbertson & Fritz. Messrs. Swan, Cutbertson & Fritz acledas. syndicate managers.
Text read from the printed page and cleaned; old type leaves the occasional error.