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