A meeting of debenture-holders in the Shanghai Sailors' Home was held on the 22nd ultimo, when the Home, as a property, was shown to be in a fairly satisfactory position. That is to say the Trustees have some Tls. 6,000 in hand, and the frontage can be sold for sufficient to pay off the outstanding debentures. As a working institution, however, the position is much less promising, the Superintendent having been unable to pay rent for nearly twelve months, owing to the falling off in the number of inmates. The sale of the frontage to Messrs. Jardine, Matheson & Ca, for Ts. 10,000 was authorised, and a Committee was formed to consult upon some plan of reorganizing the Home as a public trust.
Text read from the printed page and cleaned; old type leaves the occasional error.