We understand that the large block of property on Bubbling Well Road, opposite the Race Course, and adjacent to the Shanghai Horse Bazaar, which was some time ago acquired by the Shanghai Hotels, Ld., as the proposed site for their new hotel, has been purchased by the China United Assurance Society, of No. 11 Peking Road, the purchase price being just over Tls. 500,000. The chief object oF Hic DENase, we are inarmed by the general manager, Mr. A. J. Hughes, is to secure a site for the erection later of a building suitable to the growing needs of the Society. The purchase of this property for such a purpose is significant-of the extraordinary development of Shanghai, and Mr. Hughes is of the opinion that in a very few years all of that part- of Shanghai which is in the neighbourhood of the Racecourse will be well within the commercial area.
Text read from the printed page and cleaned; old type leaves the occasional error.