The formal inauguration took. place on Monday, at No. 95 Szechuen Road (opposite Messrs. Maitland Co.'s hong) of the Foong Sheng Industrial & Commercial Development Corporation. This is a joint stock company to be registered under Chinese law, the capital being $2,600,000. This has all been subscribed, and more than half paid up.
The corporation was originally intended to be a private concern with the object of financing and if necessary managing the affairs of a number of Chinese firms and individuals. After consideration of the potentialities of the scheme, however, it was resolved to make it a public com; with a larger scope of activities. Accordingly, in addition to the original business of managing and developing real estate holdings, industrial plants and the financing of stocks and bonds, the corporation will now undertake construction work, insurance, warehousing, real estate mortgages, ete. hile the shareholders include many influential business men, the corporation is likewise affiliated with a strong banking group.
Among the shareholders are the following:—Messrs. Chin Yun-peng, the Premier; Pan Fu, Vice-Minister of Finance; Sun Pao-chi, Director of the Inspectorate-General of Gustoms: Lu Yung-hsiang, Tuchun of Chekiang: Fu Siao-en, Managing Director of the China Merchants 8. N. Ca.; Shen Lien-fang, Chairman of the Steam Filatures & Cocoon Merchants' Guild; Sui Meng-ken, Managing Director of the Peking-Suiyuan Railway; James H. Lee, Dr. Z. T. K. Woo, General Superintendent of the Hanyang Works; and E. Y.
Text read from the printed page and cleaned; old type leaves the occasional error.