Tientsin, Apr. 20 Japanese petroleum firms have Gecided to form a joint company to control the marketing of oil in North China, Domei learned heve to-day, Capitalized at Y.20,000,000, the projected concern will be owned jointly by the Japan Oil Federation, the Manchuria deum Company and petroleum Company. here said the monthly consumption of oil in the Peiping and Chinese forces are desperately tr: ing to close the breach, and are enging the Japanese detachment inside the north and west gates. They are being aided by their comrades stationed south of Lingyi, who have joined in the battle, while the Chi-hose left wing, moving eastward from the west bank of the Yi River, is attacking the Japanese right flank to the north-west of Lingy:
The Chinese military authorities are not perturbed by the developments on the Lingyi front, They point out that the Japanese are using two and a half divisions ior their drive in the Lingyi sector—one and a half divisions transferred from the Peiping-Suiyuan and Peiping-Hankow railway zones and another division from Shanghai.
The Shanghai division, they say, came from the Chekiang front, and has been replaced by one and a half division of fresh troops from the Formosa gar-risen, most of which are imported from Heavy Reinforcements Transport Monopoly Dairen, Apr. 20. One of the st concerns on the Continent will soon be formed by Japanese interests to operate railways, bus service and harbours in North Eh officials of the South Manchuria Railway Company revealed today.
"Mantetsu" experts are now putting finishing touches on the plan, which will be submitted to the Japan Government for approval early next Chinese Command is rushing heavy. reinforcements to the Lingyi front, where -the possibility of the Chinese forces holding their own is said to-be still bright.
Should the Japanese break through at Lingyi, the Chinese military authorities state, it would mean another major battle in the Taierchwang area. This second engagement, should it eventuate, they add, would undoubtedly be fought on a much bigger scale than the previous one, with the Chinese and Japanese employing Controlled by the projected Y.400,- 000,000 semi-official North China Development Company, the new concern will itself be capitalized at Y.400,000,000, it was disclosed. Of this Y.250,000,000 to be paid up at the inauguration of the company, 'Y.100,000,000 will be raised jointly by the North China Development Com pany and the S.M.R., while the re mainder will be secured through the issue of debentures,
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