The times. [volume] (Richmond, Va.) 1890-1903, 1894-08-18
DtG NED CHfNESE LOAN.
Over One Hundrou Ashnon Pounds ohete"
nv Tfnancicrf.

by ifHn'i'ff
LONDON. Aug. 1.-THE fnanciei5 O..
+his CITY. Berlin and other cdpltala oi
Europe are eagerly Hia0"9'''7 '''N
Inquiries made by a repr sentau(e OIL
the Associated Press at the ohltes oI ~ a.,
dino Nfatheson * Co, London ana Una
uI,,nrrc,hants and at the offices OF the Hous
H. IN ana Shanghai Bank Company snow
that the loan which the great LIE n,
institutions OF Berlin are Sai opo..''o9S taels
ing for China amounts 10 I"V'l-JI 80,
and not to 100000 pounds as pictIVO''s
announced here and in t5erilh' \ tdv, ~
estimated to be worth about one o|nf
ana one-thir1 Of silver, or, roughly Sp'"N-
inp six shlllings sterling or >l'p' SUI
nosing that these amounts represent '..0
value OF silver OF the WtlsHl a. ~. Cbfr,
II appears that about ihoHl't as 30
innuiied through the Hong N"nS an
cbanqhai Bank for the rates al VIZ
surh a loan to be made IN snVeI 'ot' '
Effected. The bank Immediately Yi.,,' -d
TO loan the Chinese GoytFhH'"1 hrr1i,,
nounds sterling. or $5.WJoD. Jdru'n'
f{athesou 4 Co, who had also been con-
shifted I'm regard to the proposed 'hlhcae
loan, offered to lend China another w.
600 hounds. or a. much more as the NoF-
eminent should require.
DECLINED rHE OFFERS.
But Viceroy Ii Hung Chang. declined
both offers AT the time saying mat thefe
,vas no immediate need for the money. as
china had plenty TO 80 on with. Later
however. it became known that in view
of the repayment Of the last portions on
the present and per cent. goa Dyl,us,
due at the Hong Kong and Shanshal
Bank In 1886 and in view. also. Of the
war needs. China desired 10 Increase me
amount Of her available cash
A syndicate Of German bankcrs was al
once formed in Berlin and their agent AT
Tien Tsin were instructed 10 ask VIC
row LII Hung Chang for an option on the
loan. Dozens Of London and other pro
mOters followed the example OF the Ger
man bankers. and III Hung Chang and
the Chinese minister here were besieged
with offers from responsible and ire
spOusible parties, anxious 10 have snare
of some description in the Chinese loan.
As a result IT is probable that over
600 was offered TO China, and this
produced the result that China was not
inclined to pay over per cent. for her
loan
There is no dougt that fl.5O).00O gold
loan will be issued here early in Sep
TENDER The loan will probably consist OF
per cent. thirty-vear bonds. and NJ
least two-thrds Of this loan will be paya-
Die 10 China In silver. For this IOan theic
IS no special security Ike the CUSTOMS re-
ceipts. but only general faith In China
1t is not believed that Berlin VIII have
any controlling hand in the issue or me
new loan. although probably Berlin VIII
be allowed 10 take a portion or the loan
on ground floor terms.
There IS a great scramble among fnan
ciers. Including the London brokers Of all
ranks. 10 get on the inside Of the opera
ton, and there Is 10 doubt that the
loan is coverable in London twenty times
over.
The negotiations for the loan have al
ready affected the price OF silver, ana
there Is no question that silver will
go higher, some fnanciers predicting
that II will 90 as high as sd per ounce
The hardness of the silver market f.
most pronounced. and it has sympathe-
tically hardened the price Of copper
Alleged Recruiting Tor Japan.
Los ANGELES. CAL. Aug 1.-THE
Herald says: An effort is being made in
this city by a man who is said 10 repre-
sent the Japanese Government 10 secure
the services OF 100 men TO 90 to the
domain of the Mkado and help the
Japanese in their struggle with the chi
nese The sum OF $2j per month. be-
sides transportation TO and from Japan
and necessary ratiOns are promised those
who will enlist. Because Of the extreme
penalty attached TO an endeavor Of this
kind under the laws governing the
treaty with foreign countries, the agent
has made himself known 10 but few
people Those whom he Will secure are
ostensibly employed 10 enguge in railroad
construction, but the real object is 10 go
into active war against the japanese
enemy. the Chinese. II is intended that
a regiment Of 900 would furnish material
from which officers could be secured 10
lead the nations trOOuS.