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Table 5
Xu Run's Investment in Modern Enterprises
Company Amount (T) % Place China Merchants' Steam Navigation Co 480,000 33.44 Shanghai Yun Wo Insurance Co. 100,000 Shanghai Chi Wo Insurance Co. 50,000 10 45 Shanghai Kaiping Coal Mines 150,000 Tianjin Guichi Coal Mines 100,000 Anhui Sanshan Silver Mines 60,000 Rehe Pingchuan Copper Mines 60,000 Jinzhou Mines 50,000 Other Mines 10,000 29 96 Shanghai Cotton Mill 50,000 Shanghai Shang Jinglun Cotton Mill 170,000 Shanghai Craseman & Hagen's Filanda (Yantai Saosi Ju) 10,200 Yantai Paper Manufactury 20,000 Shanghai Chinese Glass Works Co. 30,000 Shanghai Shanghai Dairy Farm Co. 30,000 Shanghai Hong Kong Liyuan Sugar Refinery 30,000 Hong Kong Tianyi Land Reclamation Co 5,000 Jinzhou Taggu Cultivation Co. 30,000 2.44 Tianjin Zhongshan Tongyi Ranyuan Cultivation Co 1,000($) Guangdong Total 1,435,200 99.99(+$1,000)*
* Mexican dollars have not been added in the total or calculated in the percentage
Source: Xu Run, Qing Xu Yuzhi Xiansheng Run Zixu Nianpu.
but educated in Hong Kong. He first came to Shanghai as an interpreter in the Chinese Maritime Customs in 1859. It is believed that he was introduced by an officer named Horatio Nelson Lay whom Tang had met in Hong Kong. Tang was recruited as a comprador by the Jardine, Matheson & Co. in 1863 but he left in 1872. During the decade of his compradorial career, he invested, planned, organized and assisted in the sale of stocks of a number of enterprises. These enterprises were called modern because they had adopted a new form of ownership, organization and management. Moreover, some of them such as steam navigation and insurance companies were the first to take place in China. Unlike Xu
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