WesWorld

The Polar Whaling Co. was incorporated 3. September 1937 with an authorized capital of $ 20.000.000 and a paid up captial of $ 5.000.000 at Weihai. By 1939 the paid up capital was increased to $ 10.000.000 and by 1940 it totaled $ 15.000.000. The company is organized primarily to carry on whaling operations on the chinese homewaters and in the Antarctic. It also operates a few fish traps in the Bohai Sea.

The Guangdong Ocean Harvest Co. Ltd. was organized in 1914 with an authorized capital of $ 2,000,000 and paid up capital of $ 1,000,000. Both authorized and paid up capital were increased to $ 3,000,000 in 1917 and to $ 10,000,000 in 1920. In 1921 the purchase of the former Yellow Sea Fisheries Co, Ltd, and Food Export Co, Ltd, resulted in another increase in the authorized capitalization to $ 25,700,000. In 1924 the Yantai Fisheries Co was purchased. In 1942 other large companies were absorbed by amalgamation or purchase. These included the Pacific Ocean Fisheries Co, Ltd, the North Kuril Marine Products Co, Ltd, the China Canned Crab Co, Ltd, North Sea Canned Crab Co, Ltd, some of the Hung Xin Fishery interests of the north waters. Following the step, authorized capital stood at $ 86,500,000 and paid up capital at $ 75,000,000.

The company operates in waters around Kamchatka, the Kuril Islands and the Bering Sea. It also maintained floating canneries off Formosa and the Yellow sea. It produced canned salmon, canned crab, salt salmon, cod, salmon caviar and frozen salmon.

The company employed 1780 on the permanent staff, 22.500 fishermen and 14.070 shore workers so a total of 38.350 people. The fishermen and shore workers were hired for a period of from 100 to 150 days.

This company had its origin in a small fish transporting business inherited by Mr. Hung Xin from his father in 1880. In 1904 it was expanded to include purse seining with power boats. As the business prospered, Mr. Xin incorporated his company as the Ocean Fishing Co. Ltd. with paid up capital of $ 25.000.000 . The company continued in flourish and expanded operations to include steam trawling, Danish seine fishing, fishing with traps, purse seining and whaling.

The Xin Whaling Co. Ltd. was organized by Mr. Xin in June 1936 as a separate company to carry on whaling in the Antarctic. This company capitalized at $ 16.000.000 operated two whaling factory ships of the 20.000 tons class and 19 whale catcher boats.

The Ocean Whaling Co. Ltd. was organized by Mr. Xin in 1929 for whaling from shore bases on the chinese coast. Its capitalization was $ 300.000.

The three companies, Ocean Fishing, Xin Whaling and Ocean Whaling amalgamated in April 1943. The new company was named Hung Xin Fishery Group Co. Ltd. and be capitalized at $ 90.000.000.

The original company, the United Fishing Co. Ltd, was founded in 1913 with a capital of $ 2,000,000 . This company engaged in fishing with 25 trawlers. In 1934 the capitalization was increased to $ 10,000,000, and additional fishing activities were undertaken. In 1936 the China Consolidated Floating Factory Co. and China Whaling Co. Ltd were taken over by the United Fishing Company, and the capitalization was increased to $ 42,000,000. In 1937 the firm acquired the entire business of China Marine Products Co. Ltd, sellers of marine products. Capitalization was then $ 90,000,000. In March 1937 the China Food Industry Co, Ltd, an ice-making and cold storage company, was purchased and the capitalization increased to $ 93,000,000. At this time the name of the original company was changed to Qingdao Haoyuan Fishing Group Co. Ltd. . Its ice-making and cold storage facilitiee were transferred to the Imperial Fish Products Holding Co., which was established in 1938.