Urgent Call for Relief Measures: "Now is the Time To Buy Property and Not to Sell" policy. Now is the time to buy proerly and not the moment to sell, The prosperity of the mortgagees depends upon the prosperity of the mortgagor, and in consideration of the benefits the former have received uring the prosperous years they ought to adopt a more "considerate attitude and Tenient policy when Tnaividial issues moved up of dows fee conditions are unfavourable" and reflecting their particular prospects "I doubt the assurances of the early distress prevalent, It is not a question of overbuilding but the market as a whole was utter-McKesson & Robbins Me. revival of general prosperity if the The mortgagors have readily rein my opinion. It is just trade con= ly devoid of any. rend, On the Monsanto. Chemieat Sepressed condition of the real estate @uced rents of their properties to a ditions and tightness of the money one hand there was no urgent selling, is to be liquidated by foreclosures considerable extent as a contribution market, without discrimination, sales by. towards the generat welfare, but as auction at limits fixed below mortgage Situation Not Improved general disappointment the mort daily "turnovers after values, and stich drastic actions," said The general situation has not imgagees, with a very few exceptions, Saturday.
Mr, HM, Cuming, chairman, in the Proved, the property market is still have shown no signs of making averaged around 1,100,000 shares in course of a review of present con-dormant, and confidence has not yet similar contribution, comparison with about 1,700,000" for ditions in Shanghai which he been re-established. The few deals The report in your hand is quite the previous calendar week, delivered at the annual general meet-that were effected cannot be taken as full and leaves very utile for me to "Commodities were more volatile ing of shareholders of the West End criteria of improvement when sales add, except to give a brief comment and moved widely in response to Estates, Lid., held on August 10 at 149 were put through at prices' much thereon, and to express. the board's changes in sentiment resulting from below normal values and those ruling egret at the loss of $93,012.61 during weather conditions and crop esti-'Mr. Cumine' was supported by before the boom. tha year; bul the adverses of the past. mates.
On Tuesday lower tempera- Radi Mess. J. B. Manley and The disposal of our properties even year must be borne in mind as well tures and scattered rains caused the Cumine, directors, and 150,341 share-at a loss will be difficult, as they are the fact that we have discontinued. widest break in futures since the Holders were present or represented. in large blocks. Our two most valu= the practice of charging interest middle of July bit otherwise wheat At the beginning of the meeting, all able estates, one in the Central Dis-undeveloped land and have foregone remained strong on dry weather in. resent stood for a momentasamark trict situated at the corner of Sze-the interest credit from the Shanghai Canada and unfavourable European of respect for the late Mr. C.K. chuen and Foochow Roads, measur-General Realtors, Lid. This latter crop reports. Corn reached Greaves, a director of the company Monday its highest price for over Stand, Brands ing in area 4301' mow is a very at-company has already—gone Into who died last May, The chairman sai tractive and useful plot, of good voluntary liquidation, whereby, "if six years due to the continuance of shape and with considerable potential nothing unfavourable eventiates the drought which is reported " by Before touching upon the business 2nd from the sales of our properties just commercial value, while the the U, 8, Weather Bureay.to be the of this meeting T would like to make other "is the West End. Gardens, referred to, will bring about the elimination of $445,118.88 " in invest-worst in' the history of the Unitea Fee"
8 few remarks regarding the predicasituated in the Vu Yuen Road with States. Cotton dropped to its level ment in which this company in. about 42 mow, of which only half of nearly a month ago while traders particular is in and the real estate the area has been developed, are the awaited the forthcoming government situation here in general, In spite ones being advertised for sale by estimate, Rubber remained dull of my optimism expressed last year from our debit balance in the profit Suction, at an aggregate limit of and easy, things have not at all. improved, and loss account and leaving about $1,740,000, which is $840,000 tess than particularly so with ourselves. Your $10,000 to be worked off, Legal Business activity continued to be they have been mortgaged for, exeluopinion will in due course be con~ directors regret to state that the comsive of interest in arrears. These two well sustained though the seasonal sulted over this matter, pany has been experiencing a very.
Properties cost the company in the recession is beginning to make its Tough time since the early part 'As to the item of properties, some elghbpurhood of $3,000,000, which appearance. Steel operations, auto~ last' year and is still facing @ grave odd lots have been " gold, realizing mobile production and electric power means that we have a million dollars. situation, created, as you are the sum of $26,156.40 which helped at stake. output were down slightly but the doubtless aware, by the depression. much in not unnecessarily increasing weekly carloadings report is expected Although I took a rather optimistic 'The company's fate rests with the our overdrafts. result of the sale, and if the hammer to be the best yet for 1936. The view at the last' meeting, must Added to our misfortunes, we were admit that the outlook is dark infalls at Agures below the amounts warfare in Spain of itself has little given a bone on Christmas morning deed. involved and just above the limit or in our central godowns in Foochow signiticamee for the American secur-Recently you have heard remarks even at the mortgage values, you can Road, which wore damaged to the ily markets with the exception of International from the chairs of the premier land imagine what a repercussion in the extent of $21,162.36, the claim against Telephone & Telegraph, but the companies regarding adverse con-estate market here will result, not to which has been settled and paid over ditions, and prediction of an easier mention the very serious effect on to the mortgagees by the insurance Possibility of other European nations $81 money' situation and so on, but I our company, company concerned, as mentioned in becoming Involved caused some doubt the assurances of the early Mortgages and financiers will then the report, apprehension, Fevivol of general prosperity if the
fs to be liquidated by foreclosures condition of the real estate without hesitation question the value The cost of reinstatement is'$12,000, Market in figures: properties held under security, and but this reinstatement the mortgagees the general situation will have to be have not yot agreed to carry out for without discrimination, sales by examined and further margin de-the reason that they preferred to have D.3, Average for auction at limits fixed below mortgage. manded, with the result of aggravate such "reinstatement carried out. by 3 Pdtaba' rosso soon
Text read from the printed page and cleaned; old type leaves the occasional error.