A report appearing yesterday in the "Industrial Daily News" a Japanese Tokyo journal, to the effect that a new Japanese enterprise to be called the Central China Electric Company, was to absorb the Shanghai Power Company, was characterized as "absurd" by an official of the local company when interviewed yesterday by.the "North-China Daily News". The report, which was summarized in a Reuter despatch from Tokyo, stated that Japanese power interests were organizing the concern for the purpose of taking over the Chapei Power Company, and also absorbing the Shanghai Power Company.
The report goes on to state that the Japanese concern was to be capialized at Y.45,000,000 and. with its head office at Shanghai, would assume the management of all existing power companies in the cities between Shanghai Nanking and Hangchow. It would later merge with the North China Electric Power and Development Company in Tientsin. The "Industrial Daily News" stated that Mr. Eiichi Okabe, managing director of the Tokyo Electric Light Company, was at present in Shanghai conducting negotiations.
Text read from the printed page and cleaned; old type leaves the occasional error.