"I-to the Editor of the "Norrn-Curwa Dairy News"
Sm—Viewrorrr in your columns this morning thinks landowners are entitled to receive a return on their investment equal to that which holdfers of Municipal debentures receive namely 6 per cent. But your Journal of April 2 reveals that the Shanghai Land Investment Company paid 10 per cent. for 1994. No wonder the Chairman of the Landowners' Association, who is concurrently Chairman of the Shanghai Land Tavestment Company, does not wish the Association to concern itself with the question of rentals, preferring to leave that domestic' concern to tenants and landlords. His Company has #0 well succeeded in obtaining its pound of flesh that he would not want the situation disturbed.
JShanghal, Apr. 3 at credit of profit and lose account of $116485.15.
The directors have decided to recommend the following appropriation at the forthcoming annual general I recall that in your columns last year there were some articles—two think—giving the experiences of a Shanghai trader in his efforts to sell the goods of some one hundred local Chinese factories in Manila and other southern ports. He reporied then that he was unable to meet competition, not only from Japan, but in some products also from: Western countries, and his view was that removal of export tax was essential He did not regard the present cumbersome method of registration to obtain "privilege" as at. all useful, especially in instances where cases of mixed goods were despatched, and was' of opinion that the. surgical operation of complete elimination was necessary. He will find support. in Mr. Chang's views, Mr. Chang did not make the other point which those articles made, however, "It was that, since 90 many of the products of Chinese factories depended on imported materials, unless some system of rebates can bbe worked out, the prices of finished Products must all be, higher, thu ose at which ce rs can abroad.
Indeed It would seem that the government should be honest with it. self. It is seeking remedies of an artificial nature for the solution of present difficulties when at least some of its troubles could be solved by common sense means. No one has yet explained why the tax on raw often was raised 45 per cent. oF more last year, while the tax. certain types of manufactured cotton piece goods was simultaneously Towered. (I understand raw cotton enters Japan free of tax!) The government cannot wonder that two of the Sun Sing cotton mills have not reopened since Chinese New Year, and that a third of these enterprises has been sold by public auction.
Carry "forward What has to be also remembered is 10439) that the factor of import tax on the raw materials in locally manufactured goods affects sales in China as well abroad, With the present rural economic situation ruling cheap goods are essential if the products fof Shanghai factories are to find an internal market, Shanghai, April 2.
Text read from the printed page and cleaned; old type leaves the occasional error.