fetorring to a, dispatch, which appanted in' the sNorinscbina Dally News" of guna 2¢ which stated that Te"."& Senate ud approved. provision for the cancellation. of the Proterentia tax rates previously one Joven by china "Tendo. Companies Is A. Viola Smith, Registrar, China Trade Agt announced yesterday that the U.S. Deparinsnt of Commerce wee iatga teat the proviaons by Whit 'Ching Reade Act corporation Tan preyed to decare' © epoch I Suing dividend in eu of pays trent of tax yo not been ere This decision wil no doubt relive tug ansicty fet by many Teal China Trade "OG corporations The tee General Revenue Tar, Bil provides {hot the 1596 Mat vale of 10% per Cent, for Normal "ex nictation Spe pllecle to China Trade, het corpora: Mien has' been" abolished and Mead anew rate of 19% Wo 16" per ents for incomes less than 1OS325H00 per annum, and 10 per cent for me With food waters still remaining the Western areas of Shanghai to depth of over two fect (in a few parts it is nearing four feet), follow-Ing the unusually heavy rainfall over the week-end, a serious problem has Jeontronted the. Shanghai Municipal [Council and great inconvenience has been caused to residents in these Interviewed by a "North-China Daily. News" reporter yesterday, Mr. 'A. -F, Gimson, Commissioner of Public Works, explained the digieulties which had beset the Council la the flooded areas and how present conditions outside the Settlement precluded any action to prevent such flooding in the future," "The real reason for the flooding," he said, "is combination of a whole series. of He stressed the fact that except for some damage to macadamized roads there had been little serious effect of the floods on other roads owned by the Council. "He was not in a position estimate the cost of the damage done by floods but he was in a position to state that it would not be heavy.
Text read from the printed page and cleaned; old type leaves the occasional error.