Returns on property were extreme. ly meagre, which was another ground for the Taising of the rentals Jals for the bulldings—ranging from the massive steel structure to window-framea, floorings and baths—all had to be Imported from abroad (and. pald for, in foreign currency), the only local "products," if the word: might be used, being the brickwork and Labour. 1s hed During past years, rent a reduced considerably, although the cost of maintenance, especially of the Jnrger apartment and office buildings, had been on the increase, Cal during the past winter had had to be imported from abroad, the usual domestic coal being impossible to. secure; that presented an additional and not inconsiderable—extra ex-
Council's Aid to Schools Shanghai, Apr. 8.
At a meeting of the S,9%, C, Educa tion "Board on April 1, it was, unanimously agreed to recommend that the allocation of grants to for-Jeign schools be approved as follows: estate me Dyas a ames Es 5 on 4400
Shell ein Sei "orphan 500
The Crna aby ured Baa appro for pense.
"The cost of running large apart ment buildings actually comes to about 45 to 50 per cent. of the gross rentals, The general public does not Tealise that! The dimtoulty in secur ug coal from local sources is gol to make a tremendous difference will reduce revenue considecably—and while we and our ftw land= lords feel that we 41° always conside rate, we are m business and do have q dv t0 our shareholders!
The "Time Lag"
Tt was a well known fact that a considerable number of tenants were Setually paid on a sterling or US. Gollar" Hsis. Some of them had Jeases on that basis, os well. Tt was algo. an accepted fact that, subject to the usual lag, salaries were adjiwsted when the local currency defined in value. In Shanghai, everything but rents had gone up during the past few months. Rents had been decreased very substantially in recent years, but it should always have been realised that they would up when demand overtook supply.
Whenever landlords tried to protect their interests in time of extreme necessity, however, there were imme-on. These charges were manifestly unfair, he said, No property company in Shanghai—with the possible exception of one, which was In more fortunate Schools it was noted by the Board that 163 schools had applied for 1098 grants, comprising 3 middle and 190 primary schools, Of this total, 1 were new applicants, The Subynd feommittee dealing with" grants to JChinese schools recommended that 130 schools be approved for grants, that no allocation be made io 14 Jschools, and that decision be post Jponed for further consideration in the ease of 19 schools, The total JBudget appropriation for grants-in-Jald to Chinese schools for 1908 is $160,000.
The Board endorsed the recom= mendation of the Sub-committee and on April 6 the. Couneil approved the recommendations of the Education Board, 5
Text read from the printed page and cleaned; old type leaves the occasional error.