FIVE MILLIONS TO BE LOANED CHINA.
Chicago Banking Interests Agree To Advance Money and Lansing Approves. (Associated Press by Federal Wireless)
WASHINGTON, November 17—A loan of $5,000,000 to the government of China has been engineered by Dr. Wellington Koo, Chinese ambassador to the United States. The underwriters of the loan are the interests back of the Continental, Commercial and National Banks of Chicago. It is understood that the whole negotiation while in progress was submitted to Secretary of State Lansing, who is said to have thoroughly approved of the terms of the loan. It is believed that these include the hypothecation of certain of the taxes of the Chinese government over a period of three years. Reports declare that Doctor Koo made efforts to raise the money in Europe, but failed, and was forced to come to America before the details could be arranged and the money secured.