The organizations to be directly responsible for the execution of these plans are companies naw ju existence and other subsidiaries to be established. Those already existing are the Hwapei Telegraph and Telephone Ca., capitalized at Y.5,000,000, and the Mongolia-Hopei Electrice Communications Ca., capitalized at Y. 15,000,000.
The first and most important subsidiary to be set up is the North China Traffic Ca., whose establishment is projected. It is to be responsible for the unification of the traffic facilities in Manchoukuo and North China, and is to be registered as Chinese with a capital of Y.300,000,- 000. Of this, Y. 150,000,000 is to be invested by the North China Development Company, and Y. 150,000,000 by the "Provisional Government" of North China. The president is to be Mr. Kanji Usami, now director of the South Manchuria Railway Company.
The Hwapei Salt Manufacturing Ca. and the Hwaipei Iron Manufacturing Ca. and other concerns are to be established. The salt, iron and electric industries have hitherto teen conducted under the management of the South Manchuria Railway, Japan Iron Manufacturing Ca. and the Electric Power Companies' Federation. It will tak> some time in I-ping recently, says a re-"Chinese American Daily for the North China Development Company to unify and eliminate the smaller of the existing companies and transform them into subsidiary Buddha by the 7,000,000 members of ie the temple and its branches.
These subsidiaries are to be esta The remaining Y.15,000,000 was in-sens, with capital invested by the vested by China interests, in Various governments and business men of kinds of property—Y.9,000,000 in Jepan, Manchoukuo and North electric power plant equipment and China. For example, the, Hwapei ¥.6,000,000 in water supply equip-Telegraph and Telephone Company ment. has a capital of ¥35,000,000 of which A subsidiary company was est-Y10,000,000 wes invested by the ablished in July last. It is called "Provisional Government" of North the Hwachung Electric Communica-China and several Chinese promotion Ca., capitalized at Y.15,000,000. ers,—¥4,000,000 each by the Man-This consists of Y.10,000,000 from
Text read from the printed page and cleaned; old type leaves the occasional error.