A Big Sino-British Enterprise Taiyuanfu, March 3.
It is reported from the Civil Governor's yamen to-day that under the leadership of the Chinese Engineering & Mining company of Tientsin, Gen. Yen Hsi-shan has given permission for the formation of a Sino-British mining corporation with a capital of $10,000,000.
In addition to the vast coal fields, the new corporation will be permitted to exploit and work iron mines in this province by the most modern methods. Further, in case of necessity, the corporation will be allowed to build branch railways to connect with the Chengting-Taiyuan and the Peking-Hankow trunk lines This is reported to be the biggest concession which has been granted to foreigners in recent years in any Chinese province and in this connexion, the head of the Chinese engineering and mining company of Tientsin is visiting Europe in the interest of the new corporation.
It is believed by the Chinese officials that there will be no difficulty in raising the necessary capital in England even at the present time when money is rather tight in that country on account of the terrible war, but as the Shansi coal and iron deposits are well: known to foreign engineers and merchants abroad,' it is thought there will be a rush for the shares, especially as it is said that Chinese officials who knew nothing about modern business methods have promised not to interfere with the inner administration of the new corporation.
Further, governor Yen is endeavouring to improve the forestry of this province and there is a report that American forestry experts will be employed for this purpose from the Philinnine Islands or @ concession will be granted to Americans for the improvement of the trees and plants throughout Shansi province.—Asiatic News Agency.
Text read from the printed page and cleaned; old type leaves the occasional error.