London, Mar. 6.
Britain has decided in favour or two large loans to China to save the Chinese currency from collapse and enable China to purchase lorries, bills. machine-tools and other important British manufactures, official quarters announced today.
The frst project is a £3,000,000 to £5,000,000 to China intended primarily to save the Chinese currency. The loan will be granted by u group of British banks headed by the Hongkong & Shanghai Bank which will receive full guarantee. A special bill will soon be introduced Scheme to Support Chinese Currency London, Mar. 7.
Negotiations have been going on for several weeks for joint participation by British banks, with a group of Chinese banks, in a scheme providing for credits to support Chinese currency.
This enterprise, which will embrace a substantial amount, is regarded as one of common interest to both parties. Technical arrangements are well-advanced, and it is understood that an announcement will be made in Parliament this week.
—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.