Papers Relating to the Foreign Relations of the United States, 1922, Volume I

893.51/3955: Telegram

The Minister in China (Schurman) to the Acting Secretary of State

Peking, August 29, 1922—1 p.m.
[Received August 29—12:36 p.m.]

353. My 165, April 23 [25], 5 [3] p.m.⁷¹ Lee⁷² has ascertained from official Ministry of Finance that all of the bonds of the 96,000,000 issue are now on the market or in the hands of Japanese and Chinese banks to whom issued. Distribution has been as follows: 40,000,000 to Japanese banks, 10,000,000 for administrative expenses mainly salaries in arrears, and 46,000,000 to Chinese Banks. Of $4,000,000 interest due on the first coupon of this issue on July 31st only 600,-000 was paid out of salt surplus releases. Bonds now selling around $30 for $100 bonds. Full report by mail.⁷³

Schurman

71. Not printed; see telegrams no. 4, Jan. 3, and no. 45, Feb. 10, from the Minister in China, pp. 761 and 763, respectively.
72. Dr. Frederic E. Lee, consul on special detail to American Legation at Peking.
73. Not printed.