With almost complete cessation of the loan service and unprecedented contravention by the Japanese of the corporation's rights, the British and Chinese Corporation has experienced its worst year ever recorded, Sir John Pratt, the chairman, stated in his annual speech here yesterday.
The strongest protests brought no satisfaction from the Japanese in spite of the British Government's support, he added.
Sir John said the Japanese were operating the Peiping-Mukden. Railway and were duly meeting the loan instalments, but they were not paying the loan service on the Shanghai-Nanking and Shanghai-Hangchow Railways, which "they continued to control.
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Text read from the printed page and cleaned; old type leaves the occasional error.