To the Editor of the "Nowri-Cinxa Datty News Sm—In view of the New Engineer-ling and Shipbuilding Works meeting tommorrow, in which the question of Jamaiamation with the Dock Company ]will probably come up again for dis-Jcussion, may I take this opportunity to remind the Preference Shareholders Jot the New Engineering and Ship: building Works who are still holding Jout against the scheme, that it is to their interest to accept the proposed exchange of their Preference Shares for Ordinary Shares in Shanghai Dockyards (the NEW. Ca.) for the penses can be effected—about $3/400,000 a year—if the omalgamation with the Dock Com pany gots through.
That in ease of further inflation of the currency here a ordinary share is better than 6 fixed interest security.
regard to (1) the loss sustained by the New Engineering Company in 1994—as was pointed out by me at the ist annual General Meeting—was tually $310,598.49 and not $85,873.3) Jas was given in the Balance Sheet Jand if the Company continues on. this basis, then in a few years neither ithe Preference Shareholders nor the ordinary shareholders will have anything to look for.
Moreover, to-day the Preference [Shares find no buyers in the stock market even at $4 against their par value of $7, and in the event of the Jamalgamation going through, the Pref ference Shareholders will receive for tone Preference Share one ordinary Ishcre of $8 in the new company re-resenting a break up value of $10 [$15 and which will probably, from ithe outset, be earning dividends and ]with time, be readily realizable in the [market Shanghai, Nov. 19.
Text read from the printed page and cleaned; old type leaves the occasional error.