2, Peiping. uly 26.
'The small' British' community in Peiping i playing its part in the wae effort, in every possible way. British subjects have raised £180 for the Lord Mayor's "Fund in London, and are arranging regular voluntary contribu tions to war funds.
British club "has been formes. and a number of Britons have voluntered for war service. They are railing instructions from London hhow best their services may be used. which were held by the Banque industrielle and afterwards taken over by the Banque Franco-Chinoise; together with $1,000,000 "debentures which have meanwhile been totally paid off in 20 years at $90,000 each year, Profitable Undertaking hotel has had its ups and us as a paying proposition. ut the whole has been a very profits undertaking. Curiously enouith, some of its best years have been subsequent to the 1937 incident, since when it has been steadily filled to]
pacify with Japanese guests. Tt is quite exact, according to the; letter, to say that the hotel has cen "sold to the Japanese." What appears to have happened is that a tain Mr. Ishi, a Californian Japa-hose, has acquired the majority of the shares, at the very least the two-thirds' held by the Banque Franco-Chinoise. Ata recent shareholders meeting it was confirmed that the japanese had obtained a. controlling.
lerest in the hotel and" that in consequence M. P. Raphael, who hac hitherto' managed the tel fina cially, was to resign and would be replaced by Mr. Wataru Narahashi, a Japanese lawyer from Tokyo.
Tt is generally assumed that Mr.
hi was merely "acting for some powerful Japanese concern. ~The} South Manchurian Railway is men-joned; but nothing is known oficially. An unconfirmed report. gives G.5200,000 as the sum paid by' the Japanese for the shares.
Text read from the printed page and cleaned; old type leaves the occasional error.