CHINA: Tempest in Chungking

From the simple, concrete-and-stucco Bank of China headquarters in Chungking came rumblings last week of a major political upheaval. While grey-gowned clerks delicately fingered their abacuses in the cold, smoky counting rooms, directors of the bank reclined in rattan chairs, sipped tea, and ousted their fiery chairman, brilliantly able Dr. T. V. Soong. Successor: his politically potent brother-in-law, Dr. H. H. Kung.

This axing abruptly ended Dr. Soong's nine-year reign as head of one of the world's great financial organizations. Chinese murmured that more was to follow: Harvard-educated T. V. seemed to...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!