At a meeting of the Finance Committee of the Shanghai Municipal Council on April 2 the Treasurer and Controller presented the financial statement for 1034 and the Budget for 1035, 'The Treasurer and Conftrotier slated that the Budget was framed on the lines already explained in his statement to the Committee at its previous meeting and published in' the Gazette of March 20, He added that although provision had been made for redemp-Hon of the six per cent, loan of 1925 at the end of 1995. unless the finer flat situation Improved he proposed: fo recommend a postponement in the redemption of the loan which after the first. ten years optional period could be called for redemption at six months' notice.
"The Couinell on April 3 passed the Statement of Accounts for the year 1934 and the Budet for 1995 to be presented to the Ratepayers' Meeting.
Text read from the printed page and cleaned; old type leaves the occasional error.