Reference was, recently made 10.2 lon presented by: influential bodies Chinese "citizens to" the Chinese Government on the urgent. need "for Feform of the, mortgage laws. The following is'2°transiation of the petic tion:
Real estate in Shanghai has always coupled a very important position in the ancial activities. of the com-'Not only has real estate been regarded by investors as the most. Valuable and the most." permanent security, but because of its great convertibility It forms a more welcome security for mortgages than stocks "and bonds. Owners of real -property. in' Shanghai can thus "always Dorrow money from Chinese "banks whenever necessary. by means mortgage, so that possession of land almost' equivalent to possession of ready cash.
Text read from the printed page and cleaned; old type leaves the occasional error.