GTARTLING developments ave occurred during the past few days in connection with the affairs of the China Merchants' S. N. Ca, These have been the announcement that a $30,000,000 Joan has been negotiated from foreign firms for development purposes; the announcement of the Government to make the company a state enterprise; the appointment of a new general manager and board of directors; and the detention of H. Li, the retiring general manager, who is alleged to have signed the loan contracts.
'Merchants. ce come ret fey the China Healty Company is ¢o sublet 'Through this arrangement, the the three wharfs, namely the Central, North, and Eastern Wharf to the' Dollar' Company. "A separate wharf company is to be formed Chi Detween the China Realty Company and the China Merchants with a capital of Tls. 2,000,000." Foreign experienced wharf agents are to be employed for the management of these wharves, The annual rentals of the wharves, tier revenues and 25 par cent of the gross receipts ina Merchants are to be set aside for no little surprise in the Chinese circles. It was pointed out by officials, however, that no further strong action was expected against Marquis Li who had been simply placed under temporary surveillance for inquiries into the affairs of the Merchants, Prior to his detention, Marquis Li despatched a lengthy' telegram to the Executive Yuan, protesting against the decision to place the hina, Merchants under state control, it being alleged that the Gov-Jernment offered a much lower price {for the shares of the company now held by the merehahts. Should the Government's decision be executed, Met only would the shareholders be [sets of the China Merchants. stilt neat about dation tay jonly about 17 million taels," f the liabilities of the Compass Gompeey is. dale" now and liquidated, there would be a surplus. oftabut forty million we or dis Sion Sutong the shachaiceas sats while the current market quotation, of the Company's shares may not very high, the-actual value of each fet of than based npn ihe sss of the Company mutt bein ako neigtbourheal Lis, Pood" The price nich the Goverment pre Boars fo by ove the shuren eae iso fe us any 8 por one Ihe actual tae thea the refunding of the wharf loan. Nanking, Nov. 8.
The Executive Yuan today
Text read from the printed page and cleaned; old type leaves the occasional error.