Nanking, Nov. 17.
In releasing a summary and the full text of the alleged agreements between the China Merchants" Steam Navigation Company and the China Realty Company, 'm responment in the plans for the rehabilitapany's fleet of 26 steamers. is re-on sound business basis. With the shareholders of the company "all of the China Merchants' Steam ation' Company is still pro. uneconomical vessels, owing to age Bovted te contain, a majority of Jassistance of the merchants and sible official of the Government tended to precipitate "grave" conceeding. The attitude of the Finand dilapidation. New steamers bankers who have been invited to stated that recent foreign. nows-sequences, he.continued. 'With the paper criticisms against the Govern. serve as direct supervisors, life of this "important shipping ment's actions were probably: made ance "Minister is causing much Lif the Company' speculation.
His absence at Hang-firm basis of rehabil his task should be made easier, he enterprise at stake, the 'Govern: said, full knowledge of the case, ment' acted quickly' to rehabilitate chow has' no doubt complicated is argued that the mere sured that when full facts In connection with the purchase the firm's affair, he said. matters but, "meanwhile, anxiety acquisition of shares will " not concerning the case are. known, it of shates by the Government, Mr.
At the meeting of the new board Will be seen that, far from having over the possible effect of the effect this for the "property Liew stated that the interests of arbitrary' action taken on opinion ¢annot be turned to account unless of directors held yesterday" after-taken any impulsive or arbitrary. the shareholders would be protect-overseas has developed. "It the mortgages are released. noon at the company's offices, m steps, the Government has acted In his opinion, it was not such pointed out that the control of the sures to liquidate the debts of the restraint and. mode China Merchants Company by the 'The China Realty Company is simple transaction as making company were discussed, It" was tion: and particularly in its treat~ all along to have taken' the relinquishment of shares compulsory, Government from 1928 onwards has finally resolved that Messrs, "Li ment of Marquis Li, which has boo ow that no scheme which had not Every one would be given a fair Ming and Y, M, Chien, should draft bitterly assailed, resulted in the appointment of a. the approval of the Government return in this deal. succession of superintendents inthe regulations' governing the Debt Tous to a degree that has-feopardiscluding the late Mr. 'T. C- Chow, ould possibly be contemplated. Te Born at Kaishing, Chekiang, 1901, Liquidation Committee to be formed its own reputation for fairness is stated to be ready to ce-operate Mr. C.K. Leo, Mr. Kuo Wei-feng Mr." Liew studied' under "private ed in the near future, and respect for law. With the new Committee appointed and "My." Chen Fusmo, the Inst tutors, and after having completed by the Government with the view Mr. 0. S, Liew reported to the Continuing, he said that the Gov-named being the former Vice-his education in several ea to adjustment of the contracts if meeting that the four wharves the erment's objections to the alleged Minister of Communications who is, graduated from the Law Depart? control of which was handed over agreements are: conditions are thought to require believed to be in Hongkong. For. improvement. "It insists, however, ment of Soochow University three years or more the achome of 1927. In his business career,"
2 aes of the China " Realty "(1). 'They were made without that the good faith with which it rehabilitation has been under dis-Liew' has promoted, owned, aid had taken back, Ina teller "te ete many by Marquis Li have been the knowledge either of the Govern: entered into the contracts must be cussion with the China Realty der is control several ment, which is controlling the com. 's|China Merchants, the China Realty Company. The Government's Lieu is "also a. sneer st Industrial out 4 pany, of of the shareholders, The Superintendents have been par!
The legality of the contracts—quishment of. tha control of Company declares that the rein: agreements were made according cupants in those discussions. if called in question—can be tested Shanghai Muni to the parties thereto on September wharves does not mean that the in the U. 8. Court or submitted to 5 and 6, and no report was over In May last Marquis Li, Mr. Kuo an international tribunal. Tt is Recognition to be Refused agreement is abandoned. submitted to the Government Wei-feng and representatives of the concerns interested reached a de-this understood that communications in Nanking, Nov, 16.
Mr. Liew commented that the more than two months thei company represented a "benevolent after when the Government finite stage, The scheme was 1 is reported that the Ministry society," there being a large num-enthusiastically supported by the lof Pinance has already secured the appointed a new General Manager. ber of idle people standing in every Dollar Lino chiefs and it is thought has Necessary funds for the cath punt Yoom. He said that besides the 1 was only then that, upon the re-that, on his last visit here, the late belief that the threat of force chase of all shares of the Compa quest of the Minister' of Commun-Captain Robert Dollar "made a
Text read from the printed page and cleaned; old type leaves the occasional error.