July 15. AS advertisement appearing in a leading new regime daily in Shanghai asserting that since the No. 2 and No. 9 Sung Sing Cotton Mills, both foreign-owned, were owned by the "old government" and, therefore, would be transformed into "state-owned" enterprises as from August 1 of this year, might be a hoax arranged by some cotton speculators, who were willing to see prices of cotton drop to their own advantage was revealed by independent inquiries made by a "North-China Daily News" reporter yesterday. The advertisement caused the British.owners of the No. 9 Sung Sing Cotton Mill to advertise in foreign and Chinese dailies here yes~ terday through thi lawyers, Messrs. Platt, White-Cooper reaffirm ing the British ownership of that cotton mill, which is a limited company.
The advertisement which appeared in the ""Centra} China Dally News" on Sunday and yesterday was printed iby the "No, 9 and No. 2 Sung Sing Cotton Mill Receiving _Committec" without mentioning the name of any oficial organization under the new Nanking regime. But it was asserted in the advertisement that the mills were operated by the "old govern ment," Tt was stated that "we have hereby, been ordered to take over those two mills making them state~ controlled enterprises as from AUgUSt "Tt was not stated just who had ordered the committee to take over the mills, "The advertisement asked all those' who had business connec \tlons with the two mils to clear, up their accounts before July 25 of this year,
Text read from the printed page and cleaned; old type leaves the occasional error.