Sir Victor, Sassoon: Interviewed:
if newed Increasing Land Values in and Surplus Funds in Banks The arrival in Shanghai from India of s0 distinguished a fas Sir Victor Sassoon draws public attention to final plans regarding the new Sassoon House, shortly to lend its architectural beauty and modern facilities to the Bund at the corner of Nanking Road, Sir Victor arrived last Friday on the str. Athps, and will remain in Shanghai for approximately one month, when he will go to Hongkong, about June 1, for a fortnight. before returning to India, His impressions about Shanghai, which are a matter of considerable interest owing to the exceptional opportunities which he has had for making comparisons with business conditions here at present and in years past, are sufficient to convince the most pessimistic that the future of Shanghai is a glowing one.
Symptoms of Reeaperation 'The most noticeable element about the present' situation, Sir, Victor told a representative of the "North-China Daily News" on Wesnesday, was the fact that, though the fashion at present it] was to be "parsimonious" and enjoy a quite evening at home instead of the inevitable champagne parties of six years' ago, there' were no signs of trade depression in Shanghai, Business, almost without excep-was picking up, he said, and the attitude of retrenchment was. simply the healthy symptom of re-
Another telling feature of the present time was to be found in the fact that all Shanghai banks had considerable surplus funds on hand, Possibly, Sir Victor pointed out, this was simply the result of ver, as well as of people, from all parts of China, and possibly the owners of the silver were only awaiting the time hen, in safety, it could be taken elsewhere. But the reaction had been the same og though it had come into Shanghai in other circumstances, namely, that the banks had plenty of money to lend.
'y Pessimism a Sentimental Pose Pessimism about the situation was largely a sentimental pose, Sit Victor thought. Undoubtedly" the ight of rubber at the moment was largely. responsible for what simism existed. A thousand duals whose rubber dreams ished into thin mist could iderable amount of this pessimism, and Shanghai was place closely Gound up with the (rubber market. On the other hand, however, the real assets of Shane hai, those having nothing to do with the' price of rubber shares, told quite n different story.
Land values were up—discount-all fluctuations of the exchange—higher than they were on Si Victor's last visit two years ago. There was a great deal of Chinese capital abut, and Chinese opinion was undoubtedly on the side of investing this in paying foreign con cerns. In Sir Vietor's opinion the whole reuction was one towards for-riga and Chinese ce-operation to' the benefit of Yoth in commercial circles. All these things accounted for the continued interest in building, which in proportion as Shanghai' remained a safe place would be an inevitable development.
The New Hotel Coming down to comments on the Sassoon House, in which offices. would be available for next autumn, Sir Victor said that it had now been definitely decided that the upper part of the building would be utilized as a hotel. The plans were being carried out to have the Bund entrance of the building for hotel, a handsome loggia and stai way indicating this, as well as a Jounge beyond. Another lounge would be on the Jinkee Road side of the building, it was pointed out, with an entrance also from Nanking Road where all the customary Tucilities for an eleven o'clock cup coffee, ete. would be available for the public.
The first and second floors would be let as offices, chiefly to legal firms, doctors, dentists and other professional men, and the whole of the third floor would be offices of Messrs. E. D, Sassoon & Ca., Ltd., and their associate firm, Armhold Ca, Ltd,, with the exception of fan extensive suite of offices which would be occupied by Messrs. Hansons, solicitors.
The Claridge's of the Kast The front part of the fourth floor nad been Jet to the American Women's Club and was being laid out as club premises with accommodation included for residence, and the remainder of the fourth floor, together with the fifth, sixth and seventh floors would consist of luxurious bedrooms and suites of what the management aimed at making the!Clavidges" of the Far East.
"An additional large lounge set duck from the main line of the Building on the Nanking Rend frontage, the eighth floor on that side, was included in the hotel ae commodation, a8 was, on the Jinkee Read side, similarly set back a Lilliaed room and other rooms for tive hotel residents and guests, In the Laso of the tower, on the ninth Moor, would be a luxurious 4 la carte dining: room, white above would be a private banqueting room. 'A number of private dining rooms, immediately below the tower would make attractive features on the 11th. floor, overlooking the river and in the tower Itself a fire brigade wateh= man would keep a lookout for fires throughout Shanghai, this elevation providing, not only a beautiful view for miles around, but an interests ing new Municipal development.
Text read from the printed page and cleaned; old type leaves the occasional error.