Review of the Position in March:
Trading Reported Strong' for Specific Sites: Rental Rates are Strengthening in all Types of Accommodation "Phe Asin Realty Ca. reviews the fétate market in Shanghai as follows:—Bubbling Well Road sites hive come in during the past month for siting competitive bidding—by Tasers who have various projects view. The purchase of the pro-Letty opposite the western entrance to the Race Course; formerly known ax Ewo Terrace, reported 2 month xo, seems to have started keen competition for land immediately to the west, Two more important deals are reported, one on the corner of Bubbling Well and Moulmein Roads near. the Majestic grounds, which changed hands at approaching Tls. 60,060. per nows a second of nine mow on Bubbling Well Road at the earner of the pro: posed Chenta Toad, at a repertet figure of between Tls. 70,109 one Ths 5,000 per mow, and a third property of 18 mow west of Seymour Read fetching a satisfactory price. Many buyers were in the market for these properties and inquiries fare heavy for other peop the sume general locality The French area has come in for a usual number of residential and undeveloped and sales and it is particularly interesting to report that the corner of Joffre and Dubai of 6) mow evea was sold for almost Tis, 80,000 per mow. Considerable interest is being shown in Eastern District property, and a Inrgo deal tuck place eaverine the corner of Yangtszepoo and Whashing Roads at the splendid price of Tls. 14,000 per mow. A 12 mow lot further ast was puvehased by an American manufacturing firm for an inter esting industry, new to Shanghai while one or tivo firm offers have teen made for property located in the extreme southern central section of the French Concession, but they have been refused by the present owners as Inadequate, although the offers are higher than any figures paid in that vicinity in the past.
Generally speaking the market is Alificult to satisfy because—most Auyers Took for specific properties which in many enses can only be ed by tedious and lengthy requirements are filled and still there is more money available. The wat tural outlet for. this money will be for the direct holding of real estate in the city by purchase, unless, of course, the commercial trading' of the port shows a strong, upward tendency in the immediate future.
Department Shanghai has ree¢ived the greatest compliment in her history, with solid substance hichind the compli-refer, of course, to the offer 181,000,000 misdo to. the! Shanghai Municipal Council by the American & Foreign Power Con, Inc. for the purchase of the Municipal Hleetrieity Plant, Dismissing entirely any discussion as. to. when ther or not the offer should be accepted, the fact stands that for-cin interests are prepared to pay for this utility in Shanghai a sum which will not only liquidate all of the city's bonded indebtedness but will leave 2 balance of between Tls. 25,000,000 and Tis, 30,000,000 in cash in the hands of the Council, We support that it would not be strictly in order for property owners and ratepazera to lake to much credit to themselves for such an unprecedented opportunity for the city itself, since it i not only due tw the enterprise of property owners that the city has grown to the present proportions large enough for the adequate of a single public worth Tis. und shipping companies, trading concerns, business and professional men in general who have had their share in making this city one of the greatest in the world. And too, 4 full appreciation is also due to those who have muided the destiny: of the Shanghai Municipal Council and controlled the expanse the Municipal Hleteieity" Depart-
Fundamentally and unduestionly this tender reflects, first, eon: keep nil
Text read from the printed page and cleaned; old type leaves the occasional error.