Before suspicions were aroused to 4 degree that made it highly advisable for Mr. Yung Kel to put miles be-teen himself and Canton, his powers of persuasion won for him §28,000 in Specie and banknotes from would-be employees in his China and South Seas Trading Ca, He had set up offices on the Bund and in Shameen and these he furnished sumptuously, with furniture unpaid for.
Bothyoffices had been open two months or longer, and the stars were gelling nervous about their salaries Which had been overlooked from the outset, Mr. Young Yul-ming resigned, and as Mr. Yung Kel could not return his security on Thursday he made him go before a police station captain but a merchant named Chan came forth as guarantor. "Released, - Mr. Yung Kel disappeared, and no one hag set eyes on him since.
Two assistants of Yung, a Mr. Pang and a Mr. Chu, are also among the misting, They had obtained most of the bonded employees and. helped convince them that fine jobs that would last for long would be assured This retrenchment measure was assed at yesterday's regular meeting of the Provincial Council. It will be published as law next week, Included in the same enactment is 4 clause that reduces the appropriation for the overhead of all provincial Jéchools by 20 per cent. Administrative officers and teachers will, just Uke those attached to other departments, have a bit of their salaries withheld for the time being, but for all it will mean only a temporary reduction by 10 per cent, Putting all the savings effected by this bill together, the monthly budget will be reduced by about $120,000. That is to say, the operating expenses of the Government will be reduend to this extent, but the money will be spent nevertheless. It will be owed to accumulate, until 1936 and then will be available for the furtherance of the new Three Year Plan which will go into the initial stage next January.
Still spoken of as the second Three Year Plan, there is a strong prob-lability that there wil! be a prolongation 0 that it will become a Five [Year Plan. Altogether it will depend. upon how much can be scraped together. the less that can be raised, the greater the number of years over which the reconstruction projects must be stretched,
Text read from the printed page and cleaned; old type leaves the occasional error.