Readers may recall that special mention was made of the affairs of this company in a recent article which appeared in the "North-China Daily News," on "How the Chinese Coal-Mining Industry is Throttled," fin which it was said:
'This company has its collieries la Yihsien, Shantung, and depends on the Tientsin-Pukow Railway for the transportation of its coal. It has-huge properties, which include the field, workshops, iron works, machine' shops, y carriages, locomotives, (most of which have been seized by the Northern military leaders, the others being, out of and buildings, the total value of which were estimated at $30,000,- 000. it is the biggest "Chines ned mine in the country, but it 8 forced to close down last July (1927). At Toast $7,000,000 will be required to resuscitate it. During the period of its closing, it is estimated that at least $10,000 to $80,000 monthly is required to meet expenses. In' 1925, the capital was $4,000,000 and this sum was Increased by $3,000,000 two years Inter, when a dividend of 45 pee on the nett profits was declared. Te had to close down owing to tha reasons mentioned, above, Owing to the fact that many of ity shareholders were Northern, military or political lenders, the Nationalist Government, we learn: from a very reliable source, formed a committee for its reorganization trid demanded that. the company. should subscribe to the bonds issued by the Nanking Government to the tune of $1,000,000 and get rid of ita, Northern " military-politico _sharo-Raldere before It was allowed fo Te-open. This the company" is unable to-do as there are no funds on hand and holders cannot be diss indem, though 300,000 of coal are on hand, awaiting delivery. The output is between 2,000 and 3,000 tons daily. Efforts have been made to deliver the coul but there is no rolling stock for its transportation, All the company's locomotives and carriages have been seized by the northern military lend. ers: the Tientsin-Pukow Railway cannot supply any and the Lung-Hai Railway likewise hay non which can be lent. The company, therefore, has found it most dificult to continue,
Text read from the printed page and cleaned; old type leaves the occasional error.