The Archive · 1939

Denied Export Import Bank's Funds Now Insufficient

Washington, Dec. 7.

The Export Import Bank today denied Chungking rumours that a $15,- 000,000 loan from this semi-official American bank to the Chinese Government is impending.

Bank officials said that new loans to any country were virtually impossible at present because nearly all current ids have been lent out to various countries, including the previously anrfouncsd $25,000,000 "loan to China.

Other quarters recalled that President Roosevelt intends to ask the next session of Congress to double the Export Import Bank's present funds by the addition of $100,000,000. This, it was pointed out, might facilitate a new loan to China, but such a move would probably take several months lir Congress, even if it were successful.

Financial quarters in general dis-} claimed knowledge of any other present sources of a new loan to China. ancial circles in New York d knowledge of the alleged loan, although some Wall Street quarters said they had heard an unconfirmed rumour that China might eek a loan in the United States for] the purpose of supporting the Chinese dollar. ited Press.

Text read from the printed page and cleaned; old type leaves the occasional error.

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