New-York tribune., 1902-04-29
cHTNA.s INDEMNITY PAYMENT
No r1rRTHER OBSTACLE IN THE WAY
OF THE AMERICAN FISCAL AGENCA
AT SHANGHAI.
.tRy TELEGRAPH TO THE TRIBUNE

,,., Ant, os-The ambiguous points III
the Chinese peace protocol with respect a,oI
demnity have been definitely settled oy 'iie IN. ~
of the State and Treasury department. ms
.,,,s have heen sent to the officers OF the Inter
national Banking Corporation, and there IL ~
further obstacle in the way OF tne hsoo go,
of the United States to be established III 'i'e
in preparing for active business uiea' -
attaches to this agency because OF the e"o
capi,al which has been invested in the enterprise
and the earnest manner in which its Proiho',
have planned to conduct large American ii
business In the most important trade cites U! tie
Far East For several weeks past the officers Oh ''
company have been comforting with the authoii'ies
here about the responsibility of collecting from the
Chinese Government interest and amortization pay
mens in taels whose value is subject TO the uctua
tons Of the silver market. When the protocoi was
concluded the Haikwan tael was worth 724 cents In
American gold. The total payment required to be
paid by the imperial government within thirty
years 46O000GO taels. 1t Will be seen that
at present reduced price of silver which makes
the value of Haikwan tael about 66 cents the
total indemnity could be paid to the powers AT an
actual cost of GA cents less on every IA as II
would be possible TO buy taels at the former figure
Members of the International Banking Corpora
ton wanted to know II this country desired to hoo
China for 46o.0OOGO taels. whatever the market
value might be- or to require sum OF money
equal to the value of 4e0.0O00 taels at the tine
the protocol was signed 1t was finally decided TO
give China the advantage of the market nnctua-
tions but according to. this ruling, II silver IN
creases in value the Chinese Government Will nave
to pay the additional price for the tael offclals
were also asked II the government proposed 10 hod
the fiscal agency the value of silver at the rate
fixed In the protocol. In answer the Treasury saio
that they would held for the price OF silver
amounting to the market value at the time OF COL
lection. Replying to another question the Interna-
tionai Banking Corporation Informed that the
first interest payment to be made on July ].
1872 and the first amortization payment on JanG-
ary ], 1908.
The claims of the American missionaries nave
been filed here and are to be audited by the
State Department. Several denominations were 10
receive damage awards. the totals amounting to
less than 50 100000 Under the act OF congress IN
1925 provision was made for the opening OF trust
fund In the Treasury with money received by this
country from foreign nations through diplomatic
channels. 1t is therefore not necessary for CoH-
gress TO authorize q distribution OF this money: II
Is expected that the claims will all be audited ny
the date of the first payment OF the indemnity AS
the money is turned into the trust fund 1t Will
order Within the last few weeks missionaries
called on various officials here TO make inquiries
about the settlement OF these claims
In the instructions sent to the international
Banking Corporation the manner in which It's
agent at Shanghai to receive this money, now
delivery the sub-treas,rer at New-fork ana
ether details specified. Mr.. Fearon Is the
present agent OF the company at Shanghai. He Is
a also a member OF the bankers commission author
lied to receive the Indemnity payments from the
doyen of the diplomatic corps at Peking.