A settlement has been reached in the affairs of the Shanghai Cotton Manufacturing Ca., Ld., which have been before the British Supreme Court for some little time, An announcement to this effect was made by Mr, D. McNeill, appearing for Mr. F. J. Burrett, in the petition by the former that the company. should be wound up under the supervision of the Court, though the exact terms of the settlement were not divulge:
With Mr. MeNeill for the petitioner was Mr. W. H. Langley Smith. while Mr. R. N. Macleod appeared for the Company.
Mr. McNeill said he was glad to be able to inform his Lordship, Judge Skinner Turner, that since the Court last sat ho and his learned friend and their respective clients had been able to come to some arrangement and, therefore, with his Lordship's perntission, he proposed to withdraw the petition Counsel explained that {n spite of a difference of opinion his clients had never desired to make any imputation on the good faith of the directors. liquidators or any of the Japanes: shareholders in the ease and at the same time he would like, if any of the documents filed in the case had suggested any such imputation, to withdraw it unreservedly. 5 Mr. Macleod consented to this course being adopted and said that he quite appreciated his learned friend's remarks.
His Lordship said the petition would be withdrawn and he ap: preciated what Mr. Macleod had said on behalf of his clients It seemed to him a most satisfactory conclusion of the case for proceedings of that sort must have tended to harm the Mquidation of so suc cessful and prosperous a company as this and it had spared him a lengthy and_possibly troublesome inquiry. He was glad to hear from Mr. McNeill what he had said about any possible imputation in the documents.
The Court then rose.
Text read from the printed page and cleaned; old type leaves the occasional error.