Order of Confiscation Against Chung Hsing Ca. Recinded The "North-China Daily News recently published an article with reference to the throttling of the Chinese coal-mining industry, in which it was shown that, upon' the Nationalist occupation of Shantung, orders were issued by the Nationalist Goverment for the confiscation of a company and its properties on the ground that certain of its shareholders were politicians or militarists of the old regime, or merchants who had incurred ' the japleasure of the. Kuomintang leaders. Further the company—the Chung Hsing Mining Ca, of Shantung—failed to subscribe a million dollars to the" Nationalist war chest.
'A. liquidation commission was formed, with Mr. Yui Fei-peng, former Superintendent of Customs in Shanghai, as chairman, and this, commission is in existence even up to the present time.
Merchants and Bankers Hard Hit However much the militarists and politicians were interested, the mer= chants and bankers throughout the whole country likewise held shares, and not a few of them had advanced large sums of money to the com: pany in order to tide it over its many difficulties and to prevent it from being thrown into bankruptey. By letters, telegrams and personal delegations, these merchants and bankers appealed to Gen, Chiang Kai-shek (who is said to have been responsible for the whole affair) and other infuestial members of the Nationalist Government to rescind the confiscation order, and pointed out that, if the order were enforced, they would be heavy losers.
Several days ago, the Ministry of Industry, Commerce & Labour informed the local merchants and bankers that this matter was not within its province. and suggested that it should be taken up directly with the military authorities, and yesterday, the Chinese General Chamber of Commerce and the Shanghai Bankers Association received the following telegram from the Ministry of Agriculture and Mines with reference to the he order for the confiscation of the Chung Hsing Mining Ca. was originally issued by the Ministry in accordance with me structions from the Commander in-Chief, Gen, Chiang Kai-shek, because' the company had agree! to pay a million dollars towmads the expenses of the anti-Northern eampain but later failed to carry out their word. We, therefore, have ordered Mr. Yui Fei-peng to appoint A special commission to assume responsibility for the reorganization, of company
Text read from the printed page and cleaned; old type leaves the occasional error.