The signing of the documents was witnessed by Brig. Gen.
Macnaghten, Chairman of the Shanghai Municipal Council; Me. 1H, Lipson Ward, legal adviser to the Shanghai Mutual Telephone Company; Mr. W. S. Fleming, legal adviser to the I, T. & Ti Mr. Daniel Waters, of the New York office of the 1. T. & Ty; Mr. C. W. Porter, director and general manager of the Shanghai Mutual Telephone Ca. Ltd. Mr. R. C. Phil lippe, director of the same company, Ar. 'C.D. Longhurst, and Mr. J. Jammer of the J. T, & T. No Chinese attended. The concern will thenceforth be known as the Shang-nai Telepsone Ca.
The I. T, & T. was the successful proves unworth bow to the deci-at political and general.
These aims were faithfully followed by the paper and its proprietor until the second decade of the twentieth century. Then 9 of unforeseen occurrences brought revision in their train, A Mr. Sahara who had been on the staff of another addition to Shang-
Gazette" having his opinion changed torial policy. Shortly after his offer had been accepted 'Mr. Edward Ezra purchased the block of buildings in' Nanking Road tenderer for the purchase of the Company in competition with the Ericsson Telephone Company and the Cable, Teleshone & General Trust Ca., Ltd. The Advisory Com: mittee, consisting of Messrs, M. Speelman, A. S. Henchman, and A. W. Burkill, considered that. its offer of Tls. 75 a inst Tis, 100 offered by Eriessons and per instead of an institution, late editor.
The Mercury" during its long life had its share of "scoops" and successes. One of the former, bably the beat remembered, was in connection with the treaty which Sir James Mackay (afterwards Lord Incheape) and Sir Charles Dudgeon negotiated with Chinese com: ers after the Boxer trouble text of that treaty had been under pledge of secrecy in which included the offices of the|the "North-China Herald" offices "Mercury."
Mr, Clark was dis-but the "Mercury" had been fur-satisfied and resolved that the|nished with a copy from Chinese paper should have its own building. There were some reserves and Mr.
Clark arranged with Mr. Sahara that he should raise the balance of the amount required for its construction. The capital of the paper was, therefore, increased, Mr. Sahara taking the majority of the new shares at par on behalf of syndicate. Mr. Clark, however, still held a controlling interest, and. Mr. Sahara made it a condition of his own and the syndicate's investment that Mr. Clark should give him a letter pledging himself and executors that in the event of his death the syndicate should have the first offer. in Hongkong Road, but for various increased costs being chief them, profits began to lie. Mr.
Clark blamed the management and a change in management was made. An Ame: jean syndicate then made an off for Mr. Clark's shares and also offered to arrange for the purchase of some German shares in the company. However, in accordance with the pledge given to Mr. Sahara this offer could not be considered. Shortly after, Mr. Sahara made a definite offer for Mr. Clark's shares, which was accepted. Mr. Dav' died a few months later.
With the passing of Mr. Clark passed his infectious energy, 2 quality that had won for his paper 2 place in the front rank of Far' Eastern journalism. Successive managements worked hard to resuscitate the conquering and un-Jdonquetable spirit of its, founder. But times "had hanged." "Ole! feustom" had given way The "Mercury" became an evening sources. When the news came that. the treaty had been signed the "Mercury" issued it as a supple ment one day before the official version.
Two successes were outstanding: The removal of the monopoly of Reuter telegrams from the "North-China Daily News" after a losing fight in H. M. Supreme Court (Pickwoad & Ca, v. The Shanghai Mer-curs) and the introduction of "street sales," since a familiar feature of newspaper enterprise in Shanghai, by its then editor, Mr. R. D. Neish. The first was achieved by Mr. Clark who brought pressure to bear on Reuter, after the legal victory of the "North-China Daily News," which resulted in all Shanghai papers being supplied with Reuter telegrams on equal terms. The cond came as the result of #n intensive campaign to popularize the paper in the face of competiti Both took place in 1900, by which time the local newspaper world had dwindled to four English language dailies—the "'North-China Daily" News," "Shanghai Daily Press," "China Gazette," and the "Mereary" itself.
'There are journalists in China and throughout the world who gained their first knowledge of ne paper work in the old "Mercury' and' set their fect upon the ladder of success as the result of tion, Their regret at the passing of their. old mentor is tempered by the conviction that its traditions Will be perpetuated by its new proprietors. Bonis quod benefit haud perit—1.3t.c.
L'Te love of money is also the Foot of all industry.—"Publishers Syndicate."
Tls. 80 by the Cable, Telephone General Trust, and its guarantee to improve the service by installing additional equipment were in ch? which could not be ignored. The IT. & T. has contracted to hava 17,000 lines equipped for automatic service within @even months, 22,- 000 within 12 months, 24,000 witn-in 14 months, 30,000 within 18 months, and' 43,000 within 24 months.
The decision of the Advisory Committee was based on the find: ings of Mr. B. 0. Anson, a telephone expert sent by the British Post Office to report on the service in Shanghai. On November 20, 1929, Mr, Anson reported that in his opinion heavy re-financing of the Shanghai Mutual Telephone Ca. Ltd., was essential and the complete conversion of the system to the automatic working imperative it efficiency was desired.
The Shanghai Mutual Telephone Company then invited tenders from the firms mentioned, with the result now obtained, The I. T. & T. is now owner of Shanghai's telephon system and is confident of being able to show its efficient working methods within a short space of time.
Considerable agitation has been going on in Chinese circles for some time in connection with tne sale. It was contended that dis posal of the property to foreign Interests would be an affront "China's sovereign rights" and that the property should first have been offered to the Chinese Government, However, the almost unanimous decision of the shareholders, at extraordinary meeting held on. Tune 27, to approve the sale to the I. T. & T. left the Council and the authorities of the French Concession no alternative but to grant the franchise and endorse the sale.
Text read from the printed page and cleaned; old type leaves the occasional error.