Big Chinese Loan Settled.

New York Times 100 years ago today, February 4, 1913:
Agreement for $125,000,000 Issue Is Reached with Six-Power Group.
    PEKING, Feb. 3.— The loan agreement between the Chinese Government and the six-power group of bankers has been completed and will be signed to-morrow.
    The agreement provides for a loan, entitled "The Chinese Government Five and a Half Per Cent. Reorganized Gold Loan" to the amount of $125,000,000. It stipulates the purposes for which the loan shall be employed, which include the disbandment of the troops and the reorganization of the salt gabelle.
    The loan is secured on the gabelle but it is also provided that any future surplus in the maritime customs shall be used for the service of this loan, this making part of the salt revenue available for other Government purposes.
    The six-power group undertakes to advance $10,000,000 the moment the agreement is signed; another $10,000,000 later in February, and $15,000,000 in March, should the issue of the loan for any unforeseen cause be delayed.
    The loan is for fifty years, but the Chinese Government has the option of converting or redeeming it at par after six months' notice.
    There will be no interference in the salt administration, while the principal and interest are regularly paid, but even in default the gabelle will be operated by the Maritime Customs in the interests of the bondholders.
    The Government undertakes not to issue a further Government loan within six months and to issue no loan, secured on the salt gabelle, without giving the six-power group an option.
    The appointments of J. F. Olessen of Denmark as Inspector of the gabelle and Herr Romp, a German, as supervisor of the audit department have been approved.