It fs now a matter of publi Knowledge that three offers, which have been published in detail, were de and submitted to the Special Electricity Committee appointed by the Couneit whose further report follows:—
"fo the Chairman Members of the Shanghai Mu As requested, we now submit our report and reasons for recommend ing the sale of the Electricity Department.
At the commencement of its de-
Committee consider-{2d the question as to whether in the interests of the community and con-Buniers it was desirable to sell, lease or Teave the undertaking on its Present basis, Tu this connection, tee were impressed by the fact that the relationship of the Briefly, a leasing proposition means handing over the management of the Electricity Department to a third party who raise the necessary funds for future extensions, but as they have to make a profit themselves, thi#is an expensive way of financing and if it is decided not to sell the Department, the committee is of the opinion that should continue on the present basis, The view of the committee fs that there are no advantages in a lease as the Department would not be safeguarded against political influences in the future, as the municipality would retain the assets and have a considerable sum money invested, whereas in a sale the entire assets would be transferred to an Internationst Group and] by the municipality not only rel of its investments, but also receive
Text read from the printed page and cleaned; old type leaves the occasional error.