CO537-5116 — Page 154

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FINNCE.

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(a) Station XNCR broadcasts on a frequency of 7496 kcs. at

14.30 hrs. G.M.T. and is directed at North America,

(b) Station XCT broadcasts on a frequency of 8800 kcs. at

2000 hrs. G.H.T. and is directed at Moscow. These broadcasts are merely a repeat of the XNCR broadcasts.

The financial side of the business in the U.,, from all accounts, has been, and is still a headache to all concerned.

25. In July, 1947, just after the Agency began its work, it was thought that it may have been financed by IEY ON, a wealthy Chinese restaurant- proprietor, who was a director of the CHILO SHENG Company, of 17 Gerrard Street, However, the allegation could not be proved, and from later reports this seems inprobable.

26.

It was reliably reported that CHEN received approximately £350 in July, 1947, and another £250 in December, 1947, from Hong Kong, presumably for running expenses of the agency.

27.

In February, 1948, Raymond WONG received from the same source the sum of 8562, which was to cover expenses up to the end of March, 1948. In the same month, WONG was promised that with effect from April, 1948, he would receive regular installments of 40 per week without fail for all expenses,

28. In about June, 1948, these monthly installments ceased and WONG tried to raise the sum of $700 to cover expenses for the months of May to August, inclusive, evidently without success for in August, 1948, he stated that the financial position was "both helpless and hopeless",

29. In October, 1948, Raymond WONG was reported to have received 2,000 dollars from LIU NING YI (the money being sent via the U.S.A.).

30. It is reliably reported that in March, 1949, an overdraft of up to £400 was arranged by WONG,

31. It was I also reported in this month, that expenditure would rise from about £53 per week to about £60 per week, once the Agency had its own monitor.

Amendment No.1.

Reference Para. 32.

Jimmy SHIELDS died on 12th April, 1949. been nominated,

His successor has not yet

Mary SHERIDAN-JUNES, for instance was asked to resign ner position as Secretary of a Party branch when she started to work for the Agency, and the Party likes

/to describe the ency

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