At a meeting of the board of directers of The International Investment Trust Ca. of China, Ltd., held today, it-was decided to sell a substantial portion of the portfolio to The Yangtsze Finance Company. Ltd. and to fetommend-to a meeting of shareholders to be called for that purpose that the company go into voluntary The directors anticipate that followind upon the new issue of shares proposed by the Yangtsze Finance Company, Limited. the liquidators of The International Investment Trust Ca. of China. Ltd. will be able to distribute one "Yangtsze" share of Tls. 10 for ewery share in the company in addition to a substantial amount in cash.
The local stock exchange was still going strong yesterday, with buying interest centred upon specials such as Yangtsze Finance, Dockyards, Ewo Cotton, and Exploration, while the rest of the list stood in good demand.
The general set of factors contributing towards the market's buoyancy has remained the same, and although various reasons were offered as an explanation for the market's interest in specials, it is more likely that the upswing of the general price level was the main cause of many marked advances.
Concerning the uptrend of Explorations, it was maintained that the mines of the company had escaped zny serious flood damage this year due either to an improved pump system or better weather conditions in general.
Yangtsze Finance shares were also actively traded on persistent unconfirmed rumours of an impending distribution of a special dividend.
Ewo Cotton Mill shares and Explorations were mostly bought by groups which were formerly connected with the gold bar market, it was reported.
Since the settlement for business done on the stock exchange during this week has been postponed for Tuesday and Wednesday next week, the usual early week-end liquidation will undoubtedly fail to make its appearance today, the more so since it was reported that many holdings have been concentrated in strong hands by now.
It goes out saying that the Pacific situation will continue to be in the forefront of the minds of local speculators and traders, and although the recent price level is comparatively high. any favourable turn might easily bring about further zains—
WOW.
Text read from the printed page and cleaned; old type leaves the occasional error.