After several weeks of very close discussion the agreement for the tale of the Electricity Department to the American and Foreign Bowen Company has been concluded, The fact that the agreement has not factually been signed is because the docursents in question, which are fof course, very lengthy, have to ba engrossed, This work will probably, be concluded in another five or six: days, when tie agreement will be committee, consisting of Mr. G. Ws Sheppard, Ar. P. W. Massey, and: Mr. A, W. Burhill, who were given: full powers inthe matter, The American & Foreign Power Ca" with whom are associated the, British Syndicate, consisting of Mr.
Dudley Docker, Sit Harry Cassie: Holden, Lazard Brothers, Whitehall Electric Investments Ld, and ther Whitehall Trust La, "were re= presented by Mr. Samuel Murphy. The agreement concluded jis, practically identical in term. with that published in a special, number of the Municipal Gazette on March 28 last, but the Council's, Committee have introduced one two additional safeguards of the community's interest, Naturally, the agreement has been put in the requisite legal form and Ianguages At a meeting of the Council, om July 81, the Committee were to re= ort that all discussions had been satisfactorily concluded and that: the sale agreement would be ready, for signature in a few da In order to run the department: henceforward the American Foreign Power Ca, are forming." subsidiary company, which will: be: known as the Shanghai Power Com pany. Of the sum of Tis, 81,000,000 the total purchase price, the ime mediate sum of is. 36,000,000 ie. being put to the credit of the Muntcipal Council in the National City Bank of New York, to be drawn upon as required, For the bal of the money, the Council tak mortgage over the entire assets of the Shanghai Power Companys Naturally this money will not be: required for some little time ax there is no necessity to pay off alt) the municipal debentures at ones We understand, however,, that pay ment of the whole purchase of the Department is to be completed with= in three or four years.
It ig further understood that the Municipal Council will appoint a special trustee for the debenture holders 'A sum ten diseases hospital haw been established by a number of wealthy merchants of Pootung and last week 1,800 cases were treated, {including 232 eases of real cholera, Tae Mayor of Greater Shanghai reported by the vernacular papers to have ordered the Bureaux of, Lands and Health to lay out two: lege cemeteries for the Special' Municipality.
Acconoixe to the. "Sinwanpao, Sun Hsiang-yuan, the son of [wealthy Chinese farmer who is the Jowner of more than 1,000 mow oft first-class rice fielda_in th western district of Shanghi who was kidnapped from his home: on the night of May 23 and for, chose release the kidnappers manded $120,000 as ransom, was. killed by the ang a couple of days. ago because his family failed to, comply with the kidnappers? mands, The "Sinwanpao" says, that, after killing their victim, thet kidnappers put the body of ' the: deceased in a chest and. placed iti in front of the door of the farmer's house. The farmer, upon seeing: Ihis son's dead body, fainted and is row lying in a critical condition.
his home.
Jaw and detailed extra men patrol duty. Machine-guns were placed in position in many of the thoroughfares, Along the Shanghai-Nanking and. ways, likewise, there was no trouble: for, in addition to the railway, guards, two battalions of treey from the Fifth Division being post in the Shanghai zone and other troops in the other zones.
Text read from the printed page and cleaned; old type leaves the occasional error.