The result, of course, is that no interest has been "paid "on the. mortgage during this year and the mertgragee is unable to enforce his ordinary remedies under the! mortgage, This case has inflicted considerable hardship as one of the contributors to the mortgage is widow now living in England who ifes on the income thus produce.
I could give you many mare instances of a similar nature but the above are sufficient to illustrate the nature of private losses which] individuals have suffered, Then come the losses to which they would have to contribute as ratepayers. The new Administration was granted a very ample Budget in March last and yet, whist none of a rond programme (involving approximately 13 per cent. of, the Budget) has been carried out the Administration is on the verge of bankruptey, and has recently been threatened with the complete cutting off of water supply' in consequence of the non-payment of the Municipal account, Where Revenue is Lost This has been caused partly by jeurrency difficulties, but more largely because of the following losses of revenue:—
(a) Where private property is} eccupfed by soldiers the legal owner very properly declines to pay taxes or the changes for water consumed; (b) Soldiers have occupied cob joinned property and consumed water (in one property alone to the extent of Tls. 1,600)
(e). The Administration are! Practically impotent to collect vehicular licences; (a) The lodging of Municipal} funds in Chinese Banks who will only now refund in depreciated Those matters contribute to the present parlous state of the Ad-jon and in addition mea ipal property (which is secur-for the Debentures) is occupied by soldiers, without any: licence and is being very rapidly despoiled ty} them.
Turning to the Administration self—there have been no less than five changes of Directors in the space of seven months and changes of the entire subsidiary personnel, making, as it must do, for irregular and inefficient administration.
In this connection it should be emphasized that by virtue of the fact that the Director sits on the 'The 'Central China Post' a has been the constant victim of political strikes. Its general policy does not find favour with the Com-
Council and thus constitutes a permanent Chinese majority the Administration has been controlled as complete autocracy and the Council
Text read from the printed page and cleaned; old type leaves the occasional error.