'The proposed issue of $5,000,000 debentures at par carrying the rate of interest at 5¥% per cent. is in accord~ ance with the resolution proposed by the Chairman of the Shanghai Muntcipal Council at the Ratepayers' Meeting on April 10, Mr.
Arnkeld then pointed out that the Extraordinary Budget showed Capital Requirements amounting to $13,205. 000, including the deficit of $5,592,000 carried forward from 1995, The Extraordinary Expenditure proposed for 1936 included a sum of $3,210,500 for the completion of work already hand, the purchase of land for road widenings, and for the estimated cost of capital projects considered to be necessary in the general interests of the community.
Loan Redemption required an addiional "amount of $9,753,500. The Budget showed that this extraordinary expenditure could not be offset, by extraordinary income by more than fan estimated amount of $1,300,000 from the sale of surplus land and that borrowing to the extent '$12,000,000 would be necessary, The Ratepayers authorized this borrowing and the debentures now to be issued Will provide the first instalment of that operation to the extent of $5,000,000. The Loan Redemption account shows $2,005,000 under the head "temporary loans" and $114 500 under the head "sinking fun (instalments for the loans. of 1925, 1926 and 1927 respectively) thus making the total of $3,759,500 already mentioned. Tt will be seen therefore that Loan Redemption and the deflect of 1928 account for a total of $9,245,- }£00 which will absorb all but $2,054, 1500 "of the authorized borrowing British 'Ship Aldy Japanese' Filers Nasty Accident in Hankow Malchow Highway Building Basler Time at Hangchow.
German Missionaries Seized Modern deforms. in Xlangal Chungking Nows Unique Display in "Huchow Civic Improvement tu Harbin. Severe Epidemics in Szechuen Meavy Weather in Wuhan cities Colonization of Manchoulua Seechuen's 000.000 Opium Eaters Miss Mary Andrews...
Mrs, Gertrude Carter Gilmen chefoo, School Sports. ce Hospital Meeting Nakayama Murder Investigation Piro Brigade Cut and Economy the Laughing Buddha Happy? Mr. Ht. E, Peek Salls for Home British Submarines. on Cruises"
1A. W. Bartholomew. Due Prof, Menzies on Oracle Bones Potsdam Breaks Tecord to Bast Schistosomiasis, In. China Curhming's. Departure
Text read from the printed page and cleaned; old type leaves the occasional error.