Then came the attack of the Communists on Changchow which had 0 Alsastrous effect on the business. Competition from Rangoon rice fol-Yowod and for years affected the local selling market, until, recently when tax was placed on Imported rice to help the rice-growers of the outlying distriels. The Company's debts had now mounted to $200,000 and on Jan, 28, this year a mooting was called consider the situation, This meot~ Int wns adjourned to Feb, 8, At this meeting the members resolved to wind. Up business at the Chinese New Year.
The manager of the company, how. reorganizing. If all can be paid to creditors, but with organization, he thinks, that there is hope of a recovery of 40. per cent, for them, The Chinese Chamber of Commerce has been asked to com muniente with the Safety Bureau on the subject.
The Telephone Company has also announced a bad year, This is one of the Inrwest business concerns in South China having a capital of $2,000,000, Four years ago. It was prosperous nnd flourishing and able {o pay dividends to shareholders, but ost year one-fifth of its. subscribers, ceased to use the telephone with a corresponding decrease in revenue. hel line. connecting Halehena, Shimah and Chanaehow hax been taken over by the Government on an arrangement that all messages com~ Ing to Amoy over the Government's Jone distance telephone me will be ald for at a rate of five cents per message, The working costs of the Company for the year was $90,000 and its income just covered expenditure and no more, Such fs the sad record of business: failures that the Chinese New Year browsht, Many firms would have held fon had there been one ray of hope: for the future, The future seems to Indicate continued loss for an in= definite period To cut losses and lose, under the circumstances, "appeared to be the only alternative. And it Is the best of people among the mereantite class, the strictly honest, who suiter the most, Seven sailing ships were recently met, on their way to Chuanchow from Formosa, by a Custom's cruiser: all loaded with foods apparently seeking to evade the formality of a Custom's Inspection, Two of the vessels escaped, one was sunk and the others brought to port. Such is the competition that honesty has to face. The Staffs of almost all business houses: have been reduced since the New: Year, in many cases only one quarter of the former employees remaining. This, of course, means throwing hundreds of men out of employment.
Banditry Is decreasing as fast military rigour can subdue it, Thi Week In Lamching, beyond Chany chow, the military attacked a group bandits in their stronghold and after half an hour's fighting the leader with} six of his followers were killed. Although the remainder escaped, five rifles were seized. Subsequently, in further Mehting, ten more bandits were killed and another ten wounded; fan additional six rifles and a revolver were found.
At Shiman!" between Changchow and Amoy, (we bandits were killed and two wounded; three revolvers and a bomb were confiscated. One of those Killed Is reported to be the: trusted Weutcnant of the famous bandit of the Shimah district, Huang Kok-tal. Increased Government con-rol Is apparent in the outlying distelets with a huge growth tu the cities of conditions that breed banditry.
Text read from the printed page and cleaned; old type leaves the occasional error.