In addressing the meeting, silby "said that "he was." sure that they would appreciate the fact that many problems existed today in connection with real property and the restrictions to the Healthy econo mic improvement in property during the past decade had increased rather than diminished, Taking. Into -con= sideration the steady increase of proerty. values since the formation of the Settlement and French Concession, the situation during the past when years had been most unsalisfactory, The speaker then referred to the time when investment in real property in Shanghai was regarded a5 the best possible investment and the investment of money on mortgage as guilt-edged.
He would not deny, me continued, that certain landlords took advantage fof an abnormal demand for accom: modation and reaped profits og a result of the exploitation of tenant ut they were the few exception: The majority of the landlords wore suffering great. hardship. particularly the case of the properties where ttiey were responsible for water and other charges. A very lunge poreentof the Municipal Councils} income was derived from the taxation of property, increase' in rent meant an Inerease'in the value of the land which naturally ted to Increased ve~ venue for the Councils, a factor of utmost importance (0 the welfare nf this city.
Text read from the printed page and cleaned; old type leaves the occasional error.