Washington, May 23.
President Roosevelt announced yesterday that the United States and Nicaragua had reached a fiscal agreement under which the United States would extend to Nicaragua a $2,000,- 000. credit through the Export Import Bank.
Part of the credit will be used te construct a cabal along the San Juan River bed, creating a shallow draft waterway to link the Atlantic and western Nicaragua.
President Roosevelt pointed out that "it is obvious such a waterway will have a very important bearing on the defence of the Western Hemisphere."
War Department quarters pointed out the rew canal development might become he basis for the long discussed iter-oceard canal through Nicaragua, Such a canal, it is pointed out, would be of invaluable assistance to the United States Navy in the event of damage to the Panama Canal in time of war.—United Press.
Und Line Links Peiping and Tientsin Peiping, May 21.
The newly-completed underground telephone line between Peiping and Tientsin has been opened to the public, according to Chinese reports. This line was recently completed by the North China Telegraph and Telephone Company after nine months of incessant effort. The total cost was $4,000,000.
The Peiping-Tientsin section is reported to constitute the first stage of an engineering project for an underground telephone line between Peiping and Shanhaikwan for direct telephone communication between North China and Manchoukuo.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.