Oil Stocks Seized by Military! for Sale: Dubious Promise As an epilogue to the gradual con. fiseation of oil stocks belonging to the AP.C. and Standard Oil Ca., in Chungking, word reached Shang. hai on Wednesday that all oil has now deen confiscated, the consular seals having been broken in the process by the local military authorities who are now selling it to Chungking merchants, under the auspices of the Chamber of Commerce. Hundreds of thousands of dollars are involved in the confiscation going on ind no pretence of a business transaction is being kept up by the confiscators. A promise to pay th companies concerned in four months? time is the dubious guarantee, The stocks are being sold at $10 a case, according to the available and reliable report, and in order to Prevent any possibility of competition in the sale of the existing stores, a tax of $2 per unit is said to have been levied to prevent other shipments. This, however, accord-{ing to local offices of the companies, seems an unnecessary precaution as jup-river shipping is virtually at a standstill. It is further stated by the local office: of the Standard Oil Ca, that the stocks in question would retail at about $8.35 a case, from which it may be judged that the military authorities have not missed an opportunity for a little arbitrary yueeze."
Although exact details regarding the latest developments are not available at the A.P.C., who state that they have been unable to commaunieate with an agent in Chungking, it is understood that an investigation will shortly be under way when their representative reaches up-river ports in H. M, /Kiawo, which sailed from Shangh on August 19, und is expected to 0 a8 far up the Yangtze a8 Chunging.
Further, it is hoped that some] kind of agreement can be arrived at whereby the confiscated oil will be paid for by the Chungking military authorities,
Text read from the printed page and cleaned; old type leaves the occasional error.