Special Committee in Connection with Reorganization We are informed by the China Merchants $. N. Ca. Ltd. that in faceordance with the resolution wu: Aanimously passed at the meeting of the second Central Executive Com= mittee held last June relating: to the management of the China Merchants 8. N. Ca, Ltd. for the appoint mont of a special committee in connection with the general policy of the company and the appointment] fof a Special Commissioner to carry' fut. its administrative work, the Nationalist Government, in view of the wegener of putting the company under proper control, has officially appointed Mr. P. C. Wong, superintendent of the company, to be the acting chairman of the Special Committee and Mr, T. C. Chao, the general manager of the company, to be acting commissioner who will exer ise with all powers accredited to} them ponding the appointment of the special committee and the special commissioner.
The company has received a further mandate from the National Government approving the provisional regulations governing the powers conferred upon the Special Commissioner in the execution of his duties, which follow:
(1) The Special Commissioner responsible directly to the Govern-mont under the supervision and guidance of a Special Committee for the reorganization and administra. tion of the company's altairs and those of subsidiary companies; (2) In order to expedite the company's affairs, an office shall be organized under which all work' shall be carried out by various departments and committees, regulations} for which will be published in due course; (3) The Special Commissioner} shall be empowered to liquidate the company's properties, stocks and, obligations and expand its business, and he shall represent the company in cil external affairs and legal relationships but he zhall report to the Government and the Speci Committee on all important matters; and (4) The Special Commissioner] shall submit to the Government end]
Special Committee, for approval, monthly reports' of the company' revenues, expenses and general] affairs; annual reports, including the company's working statement, balance sheet and a statement of profit and lose
Text read from the printed page and cleaned; old type leaves the occasional error.