i $2;'),000,000 S. Loan
She Has Paid Oft First Loan the Hard Way
To the Editor of The New!
York Times:
As a Chinese I am very
proud, as every Chinese
will be, of the fact that
China has just paid off the
the first American loan of
$25,000,000 granted in
1939, the first tangible Am
erican assistance given
China since the start of the
Sino - Japanese War in
1937. It was paid off not
with the proceeds from oth
er loans obtained later on
from this country but thru
the hard wav of shipping
China wood oil to the Unit
ed States.
It was in the Winter of
1938 that Chinese financin'
mission, headed by K. P.
Chen, a veteran banker,
was sent to the United
States to solicit financial
assistance in the prosecu
tion of her war. The Unit
ed States was then a neu
tral country and people
were not in the mood they
are today. As a result of
Mr. Chen’s endeavor, a
commercial loan of $25.
000,000 was arranged, the
proceeds to be used to pur
chase needed American
products for shipment to
China and repayment to
be made by shipping and
selling an agreed quantity
of wood oil to this country
over a period of five years.
It was the first help China
got from friendly powers
and as such was a prelude
to the many forms of as
sistance that were to come
rth.
NOTICE OF FORFEITURE
To GEORGE H. THOMAS,
HENRY MEEGAN, JAMES H.
KENNEDY. PETER MeINTOSH.
WILLIAM H. PACK. WOOD, W.
J SOMERVILLE. J. G. GALVIN,
W. A. BOWLES, K N U T E
ORANGE, and ALASKA HOME
STAKE GOLD MINING COM
PANY, A Corporation, and to
your and each of your heirs, re
presentatives and assigns:
You and each of you are here
by notified that the undersigned
CHARLES V. OLSON is a Co
owner of each of the following
gold mining claims located in the
vicinity of Bluff. Alaska, to-wit:
Esquimo Chief, Eskimo Chief
No. 1, Eskimo Chief No. 2. Es
quimeaux No. 3. Idaho, Idaho No.
1, Idaho No. 2. Idaho No. 3. Sea
Gull, Sea Gull No. 1. Sea Gull
No. 2, Sea Gull No. 3
That for and during each of the
annual mining assessment years
ending respectively July 1st,
years 1935. 1936, 1941, the said
Charles V. Olson expended in
work, labor, improvements and
money at least $100.00 on and for
the benefit of each of said min
ing claims. That said expendi
tures were made for the purpose
of complying with the mining ass
essment laws relative to said
claims and for the years herein
stated.
And you and each of you are
further notified that if within
ninety days of the completion of
the publication of this notice
(said publication being for a
period of ninety days) you fail
or refuse to contribute to the
undersigned Charles V. Olson
your proportionate share of said
expenditures, as a co-owner, your
interest in said claims and each
of said claims will become the
property of Charles V. Olson co
owner, who has made said ex
penditures.
DATED at Nome, Alaska, this
14th day of March, 1942.
CHARLES V OLSON,
Co-owner.
Bluff. Alaska.
Publish March 16, 23, 30, April
6, 13, 20, 27, May 4 11 18 25;
June 1, 8, 1942.
Loan Was Needed
The amount was not
large, but it served China'
needs. By the time the
loan was concluded, China
had lost most of her coast
al ports and most of her
railways. Transportation
had to depend upon high
ways, but there were not
enough trucks and gaso
line. Arsenas and factories
were being moved to the
interior, but there were
not sufficient materials to
work with. Thousands of
soldiers were wounded,
but were were no adequate
medical supplies.
With the proceeds of the
loan and under the direc
tion of Mr. Chen the Uni
versal Trading Corpora
tion was set up to under
take the task of purchas
ing and shipping such vital
materials for the,Chinese
Government. Through Hai
phong in French Indo
China and then through
Rangoon via the Burma
Road, shipment after ship
ment poured into China to
help prosecute the war.
The American trucks on
the highways, the drugs
and surgical instruments
in field hospitals, and iho
steel and other metals that
made small arms and cart
ridges later to be used in
t h e historic Battle o f
Changsha—all such mater
ials were, at the beginning
bought with the proceeds
coastal ports. In the begin
ning wood oil was moved
to Haiphong and then to
Hong Kong for ocean trans
portation. After the fall of
Haiphong, it was shipped
to Rangoon through the
Burma Road. Despite al
most insurmountable diffi
culties in transportation,
of the wood oil loan.
Oil Kept Moving
In the meanwhile an
other organization under
the name of Fooshing Trad
ing Corporation was estab
lished with the sole pur
pose of collecting China
wood oil for shipment to
this country. Mr. Chen re
turned to China in 1940 to
supervise personally its op
erations. Hundreds of col
lecting stations were set
up in the producing dis
tricts and a thousand
trucks were bought and us
ed to transport wood oil
from the interior to the
the shipment of wood oil
has continued.
The regular delivery of
wood oil to this country
has rendered a distinct
service to the American
industries by stabilizing
prices and by maintaining
an adequate supply for de
fense needs. Month by
month the Universal Trad
ing Corporation has been
selling wood oil to meet
the requirements of Ameri
can industries while at the
.same time silently but
steadfastly using the ma
jor portion of the proceeds
! to pay back the loan. As
tnow announced by Jesse
Jones, the whole loan is
; liquidated fully two years
jin advance of the schedul
ed date.
Thus China has demon
strated to the world that
; despite the enormous difli
| culties that have beset her
in her struggle for free
dom and democracy, she
iSevastopol IIe!c!
\\ ilh Civilian Aid
——
People ;il Crimean B ' e.
Long Bes:e"or?. Ma- e
Arms, Till Soil, Fivli
Under Fire Constantiy
Homes Underground—En
emv. Though on Defensive
SHil Bombing, Shelling
The vital Soviet naval
base of Sevastopol '
been under siege for 1.53
days, but still is fighting
hack strongly and protect
ing an area from which the
Gormans had hoped to
launch Black Sea opera
thins toward the Catirs
:• jn nil fields. The follow
ing dispatch is part of ;>
report by a Soviet rep: na1
official:
SEVASTOPOL. Rusnn, M ••
The Soviet defenders of : :i -
PCrick Sea naval base are ■ k
irg steadily into Nazi siege ! nos
with guerilla forces that re
ported to have killed fiOO G r
mans in a single enc >unh :
Tb's report o-n five months of
• ego is forwarded at a time when
we have the enemy on the ri feu
sire and are gnawing awn\ at
his position in the mountains and
on the plains. Here is how the
struggle goes:
There is constant long-range
artillery shelling and air b >mb
ardment of Sevastopol.
The people work day and
night and even cultivate land n
far away as Balaeava, whic.n r
in the front lines.
Fishermen put out every day
under enemy fire and return, at
night with big catches to keep
up the food supply.
,\avai Miens rouna ior
Heavy guns of the Red Fleet
repeatedly pound the enemy's
lines, stemming all attempts to
advance and destroying many
I strong enemy firing posts.
A remarkable aspect of the
siege is that the enemy lias been
unable, even by dive-bombing, to
' destroy the Red Fleet or to si
i lence its guns.
; Even more remarkable is 1h
battle by the people under al
I most constant artillery fire. At
night they live in bomb-proof
shelters. They spend much time
underground. Tint they work day
night to produce arms, ammuni
tion and other supplies. They
wash and disinfect the uniforms
of soldiers from the front lines.
They make new uniforms.
When they emerge from under
ground, they cultivate the land.
They now work 2,300 acres, di
vided into individual plots and
carefully tended to add the great
est amount to the food supply.
Soviet Snipers on Guard
Vineyards are cultivated under
fire of enemy guns, often protect
ed by Russian snipers who perch
on the “Genoese Fortress,” an
important sector that ha- check
ed the German advance.
Soviet partisans are most ac
tive, although the Germans long
ago claimed to have destroyed
them. Occasionally they filter in
to Sevastopol to confer with mili
tary officials and to make reports
on conditions in the enemy’s
rear.
Civilians are living an intense
intellectual life. Lecturers ad
dress crowds every night in the
underground halls. They keep the
people informed of international
developments and news from all
parts of the Soviet Union.
Long lines stand daily at news
paper stands for the editions.
There has been a phenomenal in
crease in books taken out from
circulating libraries.
By Fedor Menchikoff, Secre
tary <*f Crimean Regional Com
mittee.
will not fail to live up to
any obligations once they
are committed. Never, for
one moment, will she for
get to repay any kindness
she has received from her
friend. With sweat and
blood China has fought the
war and kept the promise.
Chih Tsang.
L. S. AIR HEROES OVER HAWAII GET DECORATION i
Major General Frederick L. Martin pin ! Disting relied Service C rosses on
He on ! Li. George S. Welch, who downed ”r Japanese ulanes during the Dec.
attack on Hawaii, and Second Lt. Kenneth VI. Taylor, who downed two Jap plan
e.> S ae ccsemony was held at Wheeler F ehi. Left to right: Lt. Welch. Lt. Taylo
and Major General Martin.
AIR 1 KiHTER FOR MEN DOWN UNDER
A deadly United States fighter pi me is unloaded from a transport at au Austro
lion port after it crossed the Pacific in a c *nvov wh'eh brought American troop
and war supplies to bolster United Natio i’s forces “down under.”
WHEN TOKYO PLA ' O \Ui RAID
ifctf., . Mmmmimn IHJ iwmmnt i .
9
Smoke from a practice incendiary bomb rises from the plaza directly in front
Tokyo’s main railway station in the pre-war Japanese air raid demonstration. Ji
anese civilians lor several years have been trained through such demonstrate
for the ‘real thing' in air raids, which according to reports came to Japan vvh<
enemy planes bombed four cities. _
SOURDOUGH STATIONERY
Write 10 your friend3 and rela
cives on the ‘Outside,’ using Sour
lough Stationery. Thoy‘11 get a
big kick out of it.
THEY WOULD READ YOUR AD
TOO, IF IT APPEARED HERE