Elsewhere a correspondent justly draws attention to the position the bondholders of the Shanghai Nanking Railway. Three amortisation and three interest. payments fre in default and it is understood that to each category a further default is likely to be added as the writer of the letter suggests. It is true that the troubles of last year have greatly handicapped the way administration, Unfortunately it is also notorious that indiscreet management especially. inthe intation of personnel has accentuated that handicap and, indeed, was exercising a baneful' influence on the railway before the troubles occurred. ena alor ate practical proof of this anxiety has been shown, "Efforts to reniove the reproach which the defaults on the Shanghai-Nanking Railway clearly imply might advisedly be contemplated at an early date, "Know Shanghai Better"
Text read from the printed page and cleaned; old type leaves the occasional error.