Elaborate schemes have been drawn up by Mr, Chao Tieh-c ral of the China Mer-Ca, for the reorganiza-tien of the company in three stai seys the Chinese press, During the first stage, the ownership of the company will gradually fall from the merchants into the hands of the National Government, says the report. The means by which the transfer of ownership will be Licught into effect will be as follows:—The Government will Forehase 44,000 shares held by merchants at the rate of $50 per share and the shares of the subsidiary companies will be purchased at the prices ruling when the China Merchants took these over. Payment for the shares will be made in bonds secured on the company's properties, such as wharves and godowns.
Text read from the printed page and cleaned; old type leaves the occasional error.