£10,000,000 OFFER
BUT CHINESE WON’T SELL. Despite sharp ■ Chinese opposition, negotiations for the sale of the municipal electricity department, reputed to be the second largest in the world, reached an advanced stage when tenders were opened at a Municipal" Council meeting in Shanghai early in March.
Tenders ranged from between £6,500,000 and £10,000,000, the latter being offered by an Anglo-American syndicate, in which Japanese will probably participate later. The sale now requires the sanction of the foreign ratepayers, and it is expected that a serious fight will ensue in view of the determined Chinese opposition, and in view of the considerable loss to Chinese in the event of an International settlement.
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Manawatu Standard, Volume XLIX, Issue 102, 30 March 1929, Page 14
Word Count
111£10,000,000 OFFER Manawatu Standard, Volume XLIX, Issue 102, 30 March 1929, Page 14
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