London, Apr, The efforts of the Singapore Traction Company to rid itself of control by the Shanghai Blectrie Construction Company, Lid,, has resulted in failure.
"The Singapore company, which controtied by the Shanghai concern. planned to buy out the interests of the Shanghai Bleetrie Construction Ca. Lid. for the sum of £100,000.
"the Investment Trust Corporation however, filed a motion in the Court of Chancery seeking to restrain pavment of this sum pending an action of its own against the Singapore Traction Company.
'The first hearing was held yester~ day and today, ater further' argument was heard, the motion was granted by the jud that the Singapore was not in a position to provide who money to buy Out the interests of the Shanghai Electric Construction Ca, Lia.
The Singapore concern had proposed to pay the £100,000 by de-Bentures, which would result in the controlling company's charge on the Singspore Traction Company's profits being converted into a secured ucbt payable by the Singapore cancer.
"The judge ruled this proposal was quite a diferent thing from moeely Suying out the controlling interests of the Shanghai Electric Construction Ca,, Ltd—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.