Mr, Jones testified that China had borrowed almost all of the $25,000,000 contracted in 1938 but had already repaid more than $2,200,000 with tung oil shipments. He said on tuis basis China was far ahead of required payments.
The Senate Foreign Relations Committee, it was recalled, approved the US.$100,000,000 expansion of the Ex. port Import Bank's capital on Wednesday making possible further finan-cla] aid to China.
"There is a great desire on the part of the Administration to make an additional loan to China," Senator Pittman announced following the committee: vote.
Mr, Jones disclosed on Wednesday night that negotiations are now under way with Chinese officials for a new loan which would be repaid by the shipment of Chinese tin to the United States. Mr. Jones said China was seeking a loan of U.S,$75,000,000.—United Press,
Text read from the printed page and cleaned; old type leaves the occasional error.