For $1,745,000
Messrs. Bills and Bourne Purchase Company Subject To Approval by Judge hù per shih (176 Ibs.) $40.00 "40.00
The Asia Realty Company, Federal, Inc.; U.S.A.. was sold to Messrs. F. P. Bills and George Bourne, American businessmen in Shanghai, for $1,745,000 at an auction in the United States Court for China yesterday morning. The purchase is subject to confirmation and approval by Judge Milton J. Helmick in the United States Court for China on January 8, 1940. Dr George Sellett, Trustee of the estate of the Asia Realty Ca. presided at yesterday's auction while Mr. N. E, Lurton represented Messrs Bills and Bourne and Mr. N. F. Allman represented the intending. buyers.
The original plan of reorganization 00 of the real estate company was made possible by an offer from Messrs. Bills and Bourne, by the terms of which they agreed to pay into the company $1,650,000 in cash as new capital in exchange for new common voting shares of the company. This offer was made subject to the condition that a plan of reorganization containing the terms and conditions
"sy y Sdggegs geo of the plan filed should be confirmed by the U.S. Court for China, The
Text read from the printed page and cleaned; old type leaves the occasional error.