Loan Interest Fully Met: No Sale of Aharves With reference to articles and correspondence that have recently appeared in the "North-China Daily 'Nows' on the general situation of the China Merchants Steam Navigation Ca, a representative of this paper was received on Wednesday after. noon by Mr. T. C. Chow, managing director of the China Merchants, Mr. Chow, through his secretary, told our representative that he had been appointed to manage the: affairs of the company by the Ministry of Communications, Na-Yionalist Government, and assumed office two months ago. He pointed out that the affairs of the company were formerly controlled Board of Trustees and it was true that salaries had been allowed, to fall into arrears—in some cases for as much as six months. After Mr. Chow had taken over control of the affairs of the company, it was immediately decided that these salaries must be paid and he asserted yesterday that at the present time the majority of arrears had been paid up, Recent Salaries Paid He pointed out, however, that. had only been in' office two months and it was not possible for him to pay everything to date. "There is," he continued, "now very little outstanding. Moreover, February and March salaries (during which period Mr. Chow has been in office) have been paid in full."
Mr, Chow definitely stated that the present contro! board would assume all the liabilities of the old company, but that payments necessarily could only be made slowly, Mr. Chow was emphatic in point ing out that there was no distinct tion in nationality i the case of employees. was absolutely un-tru that the company mere desirous of getting rid of their foreign employees. The company, only looked to ability and diligence and would not discharge foreigners who carried out their work satisfactorily,
Text read from the printed page and cleaned; old type leaves the occasional error.