Apart, from land and buildings, the principal securities offered by. fac-{ories for loans consist of machinery which is movable proper ing (o Article 885 of the Civil Code, "he rights under a pledge are established through transfer of possession." Should the machinery' of a factory be transferred, the factory would not be able to go on with its work, Should it not be transferred, the rights under a pledge cannot be established. The law is therefore incompatible with practice; it will tend to make the machinery' of factories unacceptable as pledges and will add fo their financial diMeulties, The Swiss Civil Code provides that "Movable property such as machinery, which has already been registered at the Land Authorities as. accessories of certain immovable proerty, may be mortgaged in conjunetion with the immovable property. If our Government could issue a special law based on the above ar-tele, it will afford much relief to our industries. We therefore venture to Include this suggestion in our peti-ion. The instructions of your Yuan are respectfully awaited, (or, Will your Ministry please consider and transmit this petition to the Executive Yuan and issue instructions to to be complied with).
Terustaron's, Note: The words in parenthesis are to be substituted tu the Detition to the Menistry of Financ
Text read from the printed page and cleaned; old type leaves the occasional error.