The New York Times/1918/11/11/China Extends Loan
CHINA EXTENDS LOAN.
Six Months More Allowed for Carrying Out 'Four Power' Agreement.
PEKING, Friday, Nov. 8, (Associated Press.)—A further extension of six months has been granted by the Chinese Government on the currency loan agreement of 1910, which expired on Oct. 14. The amount of the loan was £10,000,000, and its purpose was to reform the currency system. Owing to the revolution the loan was not completed.
The loan referred to above is the famous "four power" agreement, under which a group of American, English, German, and French financiers loaned China $50,000,000. According to the terms of the agreement the loan was to have peen paid in installments, but the unsettled condition of the country, due to the unrest in China, has prevented the carrying out of the agreement.