'Broadway Mansions, Shanghs largest apartment building and hotel passed from British Japanese ownership' on March 28 and henceforth this massive. block, dominating Broadway and The Bund, will fly' the Japanese fag and will be used for purposes which have not yet been completely' revealed. Financial transactions were completed on March 25 at th British Consulate when a cash order was bande: over to the Shanghai Land Investment Ca, Ltd., fand terminated negotiations conducted for several months but delayed in completion ging the payment] sale.
Yesterday morning, there w any on the roof of the' building more in the nature fof a political settlement rather than a property deal, Flags were lowered and raised and hatlonal honours were pald signifying the importance of the event." Not only Is this the Targest property dear in many years but it is the first large transaction by Japanese interests in an. area where military necessity has been elevated. {o the status of almost complete control. Other buildings in Hongkew are' being operated Japanese interests either through lease or other Terms of possession based on the peculiar con-ition existing in areas claimed to be under Japanese Jurisdiction. It is Mkely tat this purchase may be the forerunner of other arrangements giving to. an unsatisfactory about by the Sino-Japa Japanese assumption of authority. 'The sooner this situation ig cleared up the bettor it will be forthe' fulure of harmonious international relations in Shanghai.
Text read from the printed page and cleaned; old type leaves the occasional error.