Telephone Report Considered:
No Grant to Royal Asiatic Building (Fund: Structurally Unfit Theatres The minutes of the Council me ing held on May 14, together with a report of the meeting of the Public Utilities Committee held on May have been placed at the disposal of the Press. This was in accordance with the amended resolution the Ratepayers' Meeting Jon Wpril 1 'Attacked' to the minutes and report was the following statement regarding the Telephone negotiations:
"The Council has received from the Shanghai Mutual Telephone Ca, Lta., a copy of the report of the committee which was set up by the company of consider and advise it fas to the acceptance or otherwise fof any of the tenders received for the purchase of the undertaking.
"The committee recommends! acceptance of the tender submitted by the International Telephone Telegraph Corporation, and the com:
formally applies for the Coun set aside each year, of a value equal to the accumulated superannuation fund, was approved. A notice was ordered to be inserted in the annual balance sheet to the effect that such shares are being held in trust by the bank and that the superannut tion fund will have first call thereon to the extent of the total of the fund.
Text read from the printed page and cleaned; old type leaves the occasional error.