Shy, determined Chinese financier K.P. Chen stuck a feather in his cap last week. From Chungking he wired Manhattan's Universal Trading Corp. to pay the final installment on a $22,000,000 Export-Import Bank loan smack on the tung-oil barrel head—nearly two years before the last installment on the loan was due.
Thus had he fulfilled his assurance to U.S. Treasury officials that China could do business even when the Japs controlled its coast. When he borrowed the money in 1938, no political loans were possible. Democracy was not then counted a good security in Washington; but tung oil—essential...
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