Nanking, Feb. 11.
Measures for the readjustment of the affairs of the China Merchants Steam Navigation Company were drawn up at a joint meeting yesterday of representatives of the Minis-ries" of Communications, Railways, Finance and Industry, Tu order that full time and energy may be devoted to the development of this the only state-operated shipping enterprise, it was decided that the new general manager snd assist-fant managers should give undivided attention to the work of the Company and not hold any concurrent post.
'A. shipping Joan of $20 millions is tobe issued for the liquidation of old obligations; no further loans should be made for the readjustment of the Company's properties. With regard 0 shipping operations, it was further recommended that siebs be taken to improve the Yangtze servic> og well as the coastal services for North China and South China. Elforts should also be directed towards the opening of an ocean line to the South Seas and other points.
The recent large purchases of silver have boosted the coinage value of the United States Treasury holdings 10, ubout 21 per cent. of its supply of vold, with the monetary value of silver at over $2,100,000,000 compared With. gold holdings of §10,154,000,000.
Upon approval of these measures by the Executive Yuan, the new general manager of the Company, Mr.
Choy, will be instructed to proceed with their enforcement—Kuo Min, More Api Predged fo Ald China Washington, Feb. 1 Me, 1. Morgentha said. the rillfgn ounces had boon bought from lio: Chinese Government. in-a single tonic at the time that the price was iouind 65 eons an ounce, He edded ihe lid pledged the United States to covgperate in helping, China solve her monetary. problems, Dut nevertheless Yomained fu constant touch with the silver bloc in Congress regarding the Drogress of the American silver puck base programme. Monelary experts hero declared. to-day that. the large toller balance. which Chin had Stained through the sale of silver to the United. States, confirmed by. the Seretary of the Treasury, assured the Slabilily of the Chinese managed cur-fancy in relation fo the U.S. dollar fore considerable period in tie Cature 'Attention was called to. the fact that the balance of $82,500,000. now Manaing. to. Chine's credit inthe United States is approximately 85 per tents of the value of China's purchases from the 'United 'States during' the past year.
Authorities here said that China's dollar proceeds from the sao of silver fied been established in two. comimer~ Ci banks and. in. the" New York Federal Reserve Bank United Press.
Nanking, Feb. 11.
The Executive Yuan to-day appointed Mr. Lao Mien, formerly Assistant Director of the—Peiping-Liaoning Railway, to the post of the assistant managing-director of the China Merchants Steam Navigation Company, the other assistant managing-Airector being Mr. Tang Po-ying.
Mr. Lao isa native of Kwangtung and a Japanese returned student—Central News.
Text read from the printed page and cleaned; old type leaves the occasional error.