Following on the death of Ins. Prank L. Hough, liquidator of the American-Oriental Banking Corpor Sion and Its affiliated concerns, five separate orders were issued by Judge Milton J. Helmick, on Friday morn ing, in which Dr. George Sellett vas appointed Liguidator of the Raves Trust Company, Inc, on a bond $15,000, and the Amnerican-Orient Finance Corporation, Inc., ona bond U8$15,000, and American-Orientl Banking Corporation, on a bond U.8.$25,000, Dr, Sellett was appointed trustee of all the estates of Mr, rank J. Raven, on a bord US3$5,000, being entitled possession and vested with the tt ct the property of the debtor's esi The latter order requires the nev Tiquidator to continue to mainiala and operate the business of he Gebtor in the same manner and the same extent as the busines had formerly—been conduct the officers and directors the debtor.
Dr. Sellett also has been appoinist trustee in bankruptey, the orde containing a notification that Hew aystem tea may be transported Bye railway, thus assuring greater Ekety. and lesser freight costs. 10 APunting cans to the tea producers the middlemen charge an interest int, Or 15, per cent. whereas under The government control scheme loans Miy'be granted at an Interest rate of only 8 per cent:
With specific regard to the question of financing, Mr, Tseng revealed that fatal of $2,100,000 has been made Svaitable by the government author! Mier to be granted to ten producers: trid merchants. namely $460,000 joint by the Anhwei Reconstruction De-Pertinent and the Bank of Communi= Potions, $1,400,000 jointly by the (elanssi and Anhwei Provincial Gov, Trnments and the Anhwei Banks and £00000 by. who Kiangsi Vu Min Bank.
Text read from the printed page and cleaned; old type leaves the occasional error.