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626 May 1914 when this office was abolished. During his tenure of office, he encouraged the industrial development of the province by various means. Under his patronage an industrial exhibition was held in June 1914, its preparation being started from October 1913. In that exhibition, the products of Shantung for the International Exhibition to be held at Panama the following year were displayed. After the close of the Exhibition, Mr. Pan devoted his time and energy to the study of the problem of improving the Grand Canal and its tributaries in Shantung Province. Subsequently he drafted a scheme and submitted the same to the Peking gvernment. In November 1914 he was appointed Director of the Bureau for the Preparation of Shantung Grand Canal Improvement Works. In the autumn of 1915, Mr. Pan organized the Lu Feng Cotton Mill Company in Tsinan with a total capitalization of one million dollars. Since its organization he has been and is still its managing director. In May 1916 Mr. Pan was appointed Associate Director-General of the National Conservancy Bureau. In June 1917 he became Acting Director-General of the same Bureau. As Director of that Bureau, he worked out many plans for the improvement of the rivers in China. Shortly afterwards, he left the Bureau. In December 1918 Mr. Pan was appointed Associate Director-General of the Grand Canal Improvement Board of which Hsiung Hsi-ing was then the Director-General. In October 1919 Mr. Pan was given the Second Class Pao-kuang Chiaho. In December 1919 he became Vice-Minister of Finance, still holding the post of Associate Director of the Grand Canal Board. In May 1920 Mr. Pan was appointed to be concurrently Director-General of the Grand Canal Board. In July he was ordered to act for the Minister of Finance. In August he became concurrently Chief of the Salt Administration and Inspector-General of the Salt Inspectorate. In October 1920 Mr. Pan was awarded the Fifth Order of Merit and in January 1921 the Second Class Tashou Paokuang Chiaho. In May 1921 Li Shih-wei was appointed Minister of Fiance, but he did not assume office and therefore, in June 1921 Mr. Pan was again appointed Acting Minister of Finance. In October 1921 Mr. Pan was awarded the First Class Tashou Paokuang Chiaho. In November 1921 he left the Ministry of Finance and the Salt Administration. Since that time he has been a resident in Tientsin.