New York, Apr. 17
Wall Street was profoundly terested to-day in Shanghai im patches reporting the sale of the electricity department of the Me ternational Settlement to an international group headed by the American & Foreign Power Cou save the Dow Jones Financial news agency.
The Agency states that nosotintions for the sale have been ea fully watched by" the hig elect financial interests here, wi consider the price paid, equivalent to about G. $50,000,000, as not too high for the potential value of the property which ix understood to in-lads the entire power and Tight sxatem of the International Settlenent.
It is understood, the Agency says, that the property will be developed along Tines agreed to by the into ional group which controls it. 7 purchase comprises the company's first property outside Central and The morning newspapers, des te considerable space to the deal, dicating a belief that it will prove mutually profitable for the Interna-canal Settlement and the purchas ing. group.
There are no reports here as of any refinancing scheme or any and issue la connection with the purchase—United Press,
Text read from the printed page and cleaned; old type leaves the occasional error.