The Archive · 1928

THE ESTATE OF SHENG KUNG-PAO

Attempt by Kiangsu Provincial Government to Obtain Bequests to Charity for their Own Use Frustrated by Police Action: Han Yeh Ping Shares Now Detait ed Suspicion has been rife for some: time as to Chinese intentions to lay arge portion of a notable Chinese estate under ad-ration in the Settlement— that of Sheng Kung-pao—but defi are only now enierzing as to the factual facts of the pressure which has been exerted to convert to official uses a sum of several though it must be borne in mind the "Kiangsu Government had absolutely nothing to do with the matter and entered the scene from purely interested motives.

'The proposal they made was that of the charity fund the Provincial Government would take 40 per cent,, leaving the additional 60 per cent.' to the relatives and trustees rmiillions of dollars. Sheng Kung-pao, who left a great fortune, was in private life Mr. Sheng Heuarhuai, and it may be remembered that' hix funeral' about a dozen years ago, was one of the moat Spectacular and widely attended that Shanghai has ever known, tribute to his great business and for their own uses without a cent cing the way it was directed in tha decensed's will, The relatives and trustees. ro-fused the offer, and sot about administering the estate as called for in the will and as their con-nees dictated they should right-charitable activities. Mr. Sheng. was, of course, always known to the public as Sheng Kung-pao, the title 'Kung-Pao" being either, we believe, Guardian or Junior' Guardian of the Heir Apparent, and this clung to him long after the republic had been proclaimed. As stated, he left a great amount of money, and not only what may become of the atate but the underground workings to nullify the conditions of his will are of great moment now. The methods which are being used to achieve this object are such a nature as to be no secret that foreign officials have no hesitation in considering that they affect most seriously the basis of any demand for an abolition of extra territoriality.

The Deceased's Interests It is stated that Sheng Kung-pao died leaving an estate of some ten to 15 millions of dollars which he directed in his will to be split half among his relatives and half to charitable organizations, An idea of his standing can be giver when a few of his many Dusiness interests are mentioned.

He was the founder and chief stockholder of the China Mer. chant's Steam Navigation Ca., the founder and principal owner of the Han Yeh Ping Iron and Coal Ca. and the founder of Nanyang College; beside two score other terests of lesser size. In addition he was a leading merchant of Shanghai, an especially heavy investor in land and buildings and was prominent in commercial and social cire Trustees were duly named in his will to administer the huge amount iven to charity, and it was a principal feature that one of his chief endowments was a public graveyard for the poor.

Kiangsu Gort.

Alert The Provisional Court The Riangsu Government thea brought pressure to bear on them through the Provisional Court, but with little success, Nevertheless at the instance of the Provincial Government a series of orders were, it is alleged, secretly issued by ths Provisional Court ordering a full accounting of all documents, stocks and shares, property holdings, ete. to be drawn up by the trustees and handed over to Nanking, with the further stipulation that there was to be no. division of the estate without the authority and permission of the Kiangsu Government.

Again the trustees were stubborn, and Nanking came to the conclusion they were not to be intimidated. Toward the end of October, nccordingly, sealed orders wore issued, fat the instance of the Provisional Court that within three days the trustees should surrender to the Provisional Court 40 per cent. of the endowment fund to be handed over to the Kinngsu Government, for that forcible execution of such orders would take pli Such an astounding move. wre rather new in the annals of the Settlement police, and they refused to serve the orders, There the the matter now rests. What action will be taken by the Provincial Government remains to be seen, but it is safe to assume that having already gone to such efforts ain their own ends they will not. give up the iden because of the rebuff on the part of the Settlement police authorities, On November 28 came a new move when the Ministry of Agriculture and Commerce © instructed the Kiangsu Provincial Government ty detain the shares of the Han Yoh Ping Ca. which were given to charity by the Into Sheng Kung-pao and held in trust. Tt was these shares, incidentally, which were missal of Mr.

From several sources of unquestioned information it has been earned that immediately on hearing of the money going to charity the Kiangsu Government became active Loo Hsing-yuan from the post of President of the Shanghai Provisional Court, Mr. Loo having fused to obey the Government's wish to issue an order for their con and plans were set afoot imme: diately to obtain control of th After several counter-moves was Gnally agreed that the best way to approach the matter was to sound the relatives and trustees of the charity fund on the question of arriving at an agreement, fiseation.

As can quite naturally be expect ed the Nanking politicians are somewhat worked up over the unexpected turn of events and the failure of the Settlement police to accede to their ideas and carry out the instructions of the Provisional Court in 80 flagrant a way.

Text read from the printed page and cleaned; old type leaves the occasional error.

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