The "Shunpao" says that schomi have been drawn up by Mr. Chi Ti-chiao, Special Commissioner for the readjustment of the Affairs of the China Merchants S.N. Ca., for the enforcement of his readjustment programme. The scheme were drawn up by Mr. Chao as a result of his conference with the Minister of Communications in the capital.
According to these, Mr. Chao has decided to sell all the company's properties which are of no direct value to its shipping business. With the funds derived from this source, he proposes new ships and to-erect a.new building for the company.
Messrs. Sun Chun-lee, Li Po-chu and Hong Yen-ping have been appointed members of the New Build. ing. Planning Committee and it is expected that construction work will be commenced this year. The new building, according to the "Shun-pao;" will be a nine-storey reinforced conerete one.
AID available vacant office space in the new building' will be let out as offices.
Orders already have been placed with German firms for the purchase of three new vessels of about 3,000 tons each. These new. ships will be. placed' on South China.run_ and wilt substitute. the Hsinwab;. Hein-
Text read from the printed page and cleaned; old type leaves the occasional error.