With the retirement of Yung Chung ching, the question arose as to how should his factories be reorganized. [The banks' loan of $50,000,000 to Hyung had good securities, namely, five of his best factories. The banks, therefore. suggested that they be allowed to take over these factories. This would Leave many native banks in a die ult position as they had made loans to Yung without adequate securities. Government authorities are not in favour of the proposal. It has been suggested that the Government shall take over, re-nance and reorganize these fac-{tories on a corporation basis. Bonds totalling. $60,000,000 may be floated for the purpose.
Since definite plans must be formulated within the period of one month in order to save the nine cotton and flour mills from going {into bankruptcy, Government authorities are discussing this matter. Mr. Chen Kuang-pu, chairman of the Cotton Commission of the National JFeonomie Council, has made several trips to Nanking to exchange opinions with the representatives of the Ministry of Industry and Ministry of Finance—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.