Mr. Bandinel informed the Council that there were rumours abroad to the effect that in cases where property belonging to Rus sian landowners in the Concession was being sold by order of the Chinese Local Court, the latter insisted that such properties should not be transferred' to others than Chinese citizens. {f° this were the case it would certainly be detrimental to the interests of the ratepayers in the Concession, and for this reason on considering the matter at their last meeting the Watch and Finance Committees instructed the Secretary to investigate into the matter in order to ascertain whether the above stated information was correct and of an official character.
The Secretary reported that he had made inquiries, but did not succeed in obtaining any reliable information on the subject. The Secretary, however, added that when Mr. S. M. Viasigin's lot No. 106 and Mr. Nignievitzky's lots Nos. 122 and 127 were put up for sale rumours to the above effect were persistently circulate ing in the Concession.
Mr. D. Herbert Tsung, on peing asked by the members of the Council as to whether this rumour was based on any actual facts, stated that the Bureau of Foreign Affairs had received no official intimation to this effect, and that it was the first time he heard of such a rumour existing.
Mr. Bandine) said he had an opportunity of speaking on this subject with a representative of the Tientsin Land Investment Company who as far as he understood had a mortgage on Mr. Nignievitzky's sai property. When this property was put up for sale by the Chinese Court and the Company wished to purchase it, they were advised to acquire it in the name of their compra-dare, which they did: What the actual] reason was for suggesting such a course of proceiece the Company could~not say, but promised to inquire into the matter. The representative also informed him that his company now intends to retransfer the property in question to their own name, and it will be of interest to follow up further progress of this question.
Mr. Jones said that such a rumour alone,. should it even prove to be unfounded, was detrimental' to the interests of the ratepayers, as it was bound to depreciate the value of land in the Concession. He therefure suggested that the Commissioner of Foreign Affairs.e officially approached on the subject and re: quested to officially refute this rumour, should it turn out to be unfounded.
The remaining Members of the Council fully endorsed Mr. Jones's opinion and unanimously adopted his proposal.
At a previous meeting on May 7, the matter was also discussed and an excerpt from the minutes reads as follows:—
In the course of the- exchange of opinions it also transpired that on certain occasions where properties of Russian landowners were sold by order of the Chinese Court the latter insisted that the said properties should not - be transferred to others but Chinese citizens, the opinion of the Court being that the Concession was at present administered by the Chinese Government and should therefore in respect of landownership submit to the general laws on this subject ef.the Chinese Republic by which the acquisition of real property by foreigners is not provided for. Finding this point of view of the Chinese Government authorities to be entirely unlawful and to substantially damage the interests of the Ratepayers of the Concession, the Committees 1nstructed the Secretary to investigate into the matter and to ascertain whether the above stated information was correct and of an official character.
Text read from the printed page and cleaned; old type leaves the occasional error.