To the Editor of the Sm,—Some rumours are in circulation to the effect that the Shanghai Library in a state of insolvency, and that the subscribers are linble for any deficiency that may exist when the affairs are wound up. I would esteem it a favour if you would allow me to state through your columns the following facts. Out of seventy debenture bonds of Tls. 20 each whic were issued to raise money for building, thirty-one bonds (redeemable at Tls. 25 each) are still outstanding, requiring a total of Tls. 75 for their repayment. Against this, we have the building, one-half of which at present brings in Tls. 150 per annum, We hare also Tis, 874in the Hongkong and Shanghai Bank, and as we have paid every bill that has been presented, it will be seen that so far from the institution being insolvent, the whole stock of books is perfectly clear. Many of these would perhaps fetch but a small amount of money iE sold, but it would take thousands of taels and years of time to replace the valuable portion of the collection. The Committes have, within the last month, increased their allowance to the London agent for books, and we hope soon to resume payment of debentures, It is with great reluctance that I have felt bound to bring the Library again before the public, but £ trust I shall not have to intrada upon your columns for a long time to come, Iam, Your faithfully, G. Jasees Monntsow, Hon. Sec. Shanghai Library.
Shanghai 26th May.
Text read from the printed page and cleaned; old type leaves the occasional error.