Possibly the process of translating Dr. H. H, Kung interesting statement to the London press from English to French and back to English again may be responsible for certain obscurities in the reference to the £10,000,000 Railway Loan. The statement was apparently intended io disclose the formal completion of the negotiations which, as has been already announced here, have been conducted in China for the financing of certain railway activities specific cally noted by Dr. Kung, The programme of the Ministry of Railways has, from time to time, been expounded in these columns and the developments by which certain xailway loan services were restored under adjustment with bondholders have been explicitly designed to create satisfactory conditions for further financing of railway construction in this country. To. that end the loan, to which Dr. Kung made reference, was contemplated and its arrangement discussed, It is satisfactory now to learn that the successful outcome of those negotiations has been virtually ensured.
Text read from the printed page and cleaned; old type leaves the occasional error.