The Shanghai Municipal Council yesterday gave notice that subject to Protests, if any, being heard. and over-Tuled, it is proposed to abandon the planned extensions of the portions of Jukao Road, between Juikin and Chaofoong Roads and: Juikin Road, between Hailar and Jukao Roads.
Protests against such abandonments shoüld be submitted to the Secretary and, Commissioner General, Room 150, Administration Building.. 209 Kishgse Road, before September 29, Penguin Books A book of cartoons—"Európe at War, A History in y Cartoons with a Narrative Text" by Low is something well worth having—and at sixpence, the price of a Penguin book. A Penguin Special is "World Shipping" a Note Book on Seaways and Sea Trade and a Maritime Geography of Routes, Ports, Rivers, Canals and Cargoes by A. C. Hardy—with many Laurence Dunn illustrations. Another Specia] is "Aircraft Recognition" by R. A. Saville-Sneath illustrated with official silhouettes and photographs. "Another -well. illustrate ed Penguin, in three volumes, is "Oil Paint and Grease Paint" the autobiography of Laura. Knight. Novels include H. G. Wells's "Kipps" and three "mystery and crime," "Murder of My Patient" by M.. G: Eberhart. "He Laughed at Murder" by Richard Keverne, and "Fall Over Cliff" by Josephine Bell. when the addition hi surcharge based 9n exchange was approved as a temporary expedient pending examination of the matter. For some time past considerable difficalty has been experienced in deciding questions involving the earning rights of the company owing to the difficulty of defining rights under several of the ancial clauses in the company's franchise under existing unsettled conditions. These clauses which involve complicated questions as to the effect of currency depreciation could only be defined in a manner satisfactory to both the company and the Council by an almost certainly expensive and protracted arbitration h it was considered most desirable to avoid at the present time. It "was accordingly agreed by the company and the Council that an attempt be made to determine what revenues the company may reasonably be pefmitted fo earn irrespective of, and without prejudice to, the rights of either party under the franchise.. An informal committee was appointed for this purpose comprising, Mr. T. S. Powell Member of the' Council d its Public Utilities Committee, Mr. E. F. Hardman, C.A., representatives and officials of the company and officials of the Council.
The Committee came to the conclusion after thorough examination and study of the matter that the company should reasonably be permitted to earni—
(m) Interest on its debentures and loans, Dividends on its preferred stocks Enable allowance for de.
T.S200000 per annum for the time being Operating expenses reasonably incurred, A surplus for res tingencies amount $2,000,000 ner annum Arrears of dividends in respect of Cumulative second preference stock to be recouped over a period of five years.
Text read from the printed page and cleaned; old type leaves the occasional error.