Nanking, July 8 Dr, H. H. Kung, Minister of Industry, when questioned about the reported establishment of a large-scale sugar refinery in Shanghai by Chinese and Cuban interests, stated yesterday that the Ministry and the Cuban sugar interests have signed draft agreement for the realization of the project.
The proposed company, according to Minister Kung, will be capitalized G$5,000,000 wit its head ofice at Shanghai. The Cuban interests, he said, represent Cuban sugar producers and are in no way connected with the Cuban Government, Dwelling on establishing commodities imported (cotton yarn being first) and that the average consumption of sugar jer capita in the country is at present coly from 20 cents to 45 cents.
Text read from the printed page and cleaned; old type leaves the occasional error.