上世(shi)紀(ji)二十年(nian)代，中國(guo)進入軍(jun)(jun)(jun)(jun)(jun)閥(fa)(fa)統(tong)治和混戰時(shi)期。新舊軍(jun)(jun)(jun)(jun)(jun)閥(fa)(fa)為了爭地盤，擴(kuo)實力，經(jing)常打仗，鬧得雞(ji)犬不(bu)寧，民不(bu)聊(liao)生。棗(zao)莊地處(chu)(chu)蘇魯豫皖(wan)邊界和津浦、隴(long)海鐵路(lu)的(de)交匯地帶，是軍(jun)(jun)(jun)(jun)(jun)閥(fa)(fa)拉鋸戰的(de)嚴重受害區(qu)。“城門失(shi)(shi)火殃及池魚”，中興(xing)公(gong)(gong)司(si)的(de)煤(mei)炭生產(chan)(chan)和運輸遭受軍(jun)(jun)(jun)(jun)(jun)閥(fa)(fa)混戰的(de)影(ying)響和損失(shi)(shi)很大(da)。1923年(nian)之后，煤(mei)炭年(nian)產(chan)(chan)量和實際銷量大(da)幅度回落，1928年(nian)一(yi)度被(bei)迫停產(chan)(chan)。因(yin)生產(chan)(chan)不(bu)正(zheng)常，煤(mei)炭運不(bu)出，每年(nian)給(gei)中興(xing)公(gong)(gong)司(si)造成的(de)營(ying)業虧損都(dou)在百萬元以上。不(bu)僅如此，大(da)小軍(jun)(jun)(jun)(jun)(jun)閥(fa)(fa)為了籌措(cuo)軍(jun)(jun)(jun)(jun)(jun)費(fei)(fei)，經(jing)常到中興(xing)公(gong)(gong)司(si)敲詐勒索、搜刮攤派，要(yao)求(qiu)中興(xing)公(gong)(gong)司(si)負(fu)擔過往軍(jun)(jun)(jun)(jun)(jun)隊的(de)給(gei)養(yang)費(fei)(fei)、招(zhao)待費(fei)(fei)、開拔費(fei)(fei)等名目(mu)繁多(duo)的(de)費(fei)(fei)用(yong)(yong)。棗(zao)莊駐(zhu)軍(jun)(jun)(jun)(jun)(jun)有(you)時(shi)多(duo)達上萬人，吃喝拉撒都(dou)要(yao)中興(xing)公(gong)(gong)司(si)負(fu)擔。另外，“時(shi)有(you)成群(qun)士兵，攜帶槍械(xie)，強(qiang)取煤(mei)焦，并令抬夫抬往他處(chu)(chu)發賣，稍(shao)有(you)勸阻(zu)，即將用(yong)(yong)武，合計所損頗巨。”好端端一(yi)家煤(mei)礦企業被(bei)軍(jun)(jun)(jun)(jun)(jun)閥(fa)(fa)糟(zao)蹋得瀕臨破產(chan)(chan)。那年(nian)月(yue)沒有(you)講理的(de)地方，只能忍(ren)辱(ru)負(fu)重、忍(ren)氣吞聲、自嘗苦果。

1927年(nian)(nian)，蔣介(jie)石(shi)發(fa)動了(le)“4.12”反革(ge)命政變。為(wei)繼續(xu)鎮壓共產(chan)(chan)黨人(ren)和革(ge)命群眾，與新舊(jiu)軍(jun)(jun)(jun)閥爭奪統治權，急需大(da)量(liang)軍(jun)(jun)(jun)費，為(wei)此(ci)，國民黨財(cai)(cai)政部發(fa)行了(le)所謂的(de)(de)“二五庫券”（以征收2.5%的(de)(de)關稅附加(jia)稅為(wei)擔保。如果出賣，只(zhi)能收回(hui)票面額的(de)(de)70%）。當年(nian)(nian)7月(yue)，蔣介(jie)石(shi)的(de)(de)軍(jun)(jun)(jun)隊進駐棗莊。當時中(zhong)興(xing)(xing)(xing)公司連(lian)年(nian)(nian)積累的(de)(de)債務已達500多萬(wan)元(yuan)。為(wei)了(le)企業(ye)生存，中(zhong)興(xing)(xing)(xing)公司明知(zhi)上當，也不(bu)得已向興(xing)(xing)(xing)業(ye)、交通、中(zhong)南(nan)等銀行以公司資產(chan)(chan)作抵押，認購了(le)“二五庫券”100萬(wan)元(yuan)。并向蔣介(jie)石(shi)秉陳(chen)歷年(nian)(nian)兵匪騷擾之苦，請求(qiu)(qiu)給予(yu)保護。蔣介(jie)石(shi)在中(zhong)興(xing)(xing)(xing)公司的(de)(de)報告(gao)上親(qin)筆批示(shi)：“據稱該公司歷受軍(jun)(jun)(jun)閥騷擾，瀕(bin)于(yu)破產(chan)(chan)，自愿認購庫券一百(bai)萬(wan)元(yuan)補充(chong)軍(jun)(jun)(jun)需，強求(qiu)(qiu)保護等情(qing)，具見深(shen)明大(da)義，殊(shu)堪嘉許，應準(zhun)分(fen)電前敵各軍(jun)(jun)(jun)予(yu)以保護，并分(fen)函財(cai)(cai)、交兩部查(cha)照辦理，以維實業(ye)。”

不(bu)久，蔣介(jie)石(shi)撤軍南下，棗莊又落入(ru)奉(feng)系軍閥的統治(zhi)之下。1928年4月，蔣介(jie)石(shi)的軍隊再(zai)次占領(ling)了(le)棗莊，要求中(zhong)興(xing)(xing)(xing)(xing)公(gong)(gong)(gong)(gong)司(si)(si)再(zai)報效(xiao)軍餉500萬(wan)元。中(zhong)興(xing)(xing)(xing)(xing)公(gong)(gong)(gong)(gong)司(si)(si)借(jie)貸(dai)(dai)無門，只好硬抗。蔣介(jie)石(shi)立(li)即下令委(wei)派國(guo)民黨(dang)大(da)員(yuan)俞飛鵬(peng)帶領(ling)人馬組成“整理中(zhong)興(xing)(xing)(xing)(xing)煤(mei)(mei)礦委(wei)員(yuan)會(hui)”，進(jin)礦強行接管(guan)營業管(guan)理權。一方面不(bu)準中(zhong)興(xing)(xing)(xing)(xing)公(gong)(gong)(gong)(gong)司(si)(si)自行銷售煤(mei)(mei)炭；一方面在上海登報招(zhao)標出售中(zhong)興(xing)(xing)(xing)(xing)公(gong)(gong)(gong)(gong)司(si)(si)的存(cun)煤(mei)(mei)30萬(wan)噸（約售價300萬(wan)元）。妄圖(tu)以高壓手段脅迫中(zhong)興(xing)(xing)(xing)(xing)公(gong)(gong)(gong)(gong)司(si)(si)交(jiao)出500萬(wan)元軍費。5月上旬，中(zhong)興(xing)(xing)(xing)(xing)公(gong)(gong)(gong)(gong)司(si)(si)派代表與(yu)俞飛鵬(peng)談判交(jiao)涉，而俞飛鵬(peng)限5月底交(jiao)清100萬(wan)元以充軍餉。當(dang)時(shi)中(zhong)興(xing)(xing)(xing)(xing)公(gong)(gong)(gong)(gong)司(si)(si)確實無錢可交(jiao)，談判陷(xian)入(ru)僵局。蔣介(jie)石(shi)認為中(zhong)興(xing)(xing)(xing)(xing)公(gong)(gong)(gong)(gong)司(si)(si)是軍閥奸(jian)(jian)商，竟敢“朋比為奸(jian)(jian)，背約要挾(xie)，企圖(tu)阻(zu)撓軍餉”，下令沒(mei)收中(zhong)興(xing)(xing)(xing)(xing)公(gong)(gong)(gong)(gong)司(si)(si)全部資(zi)產(chan)，“如(ru)敢違抗，定予嚴辦不(bu)貸(dai)(dai)。”

面對生死(si)存亡的(de)緊要(yao)關(guan)口，中(zhong)(zhong)(zhong)興(xing)(xing)(xing)公(gong)(gong)司(si)(si)(si)(si)在(zai)天津召開(kai)股東會(hui)(hui)議研究對策，并(bing)聯(lian)(lian)系主要(yao)債(zhai)(zhai)權(quan)人——江浙財團的(de)五大(da)(da)銀(yin)(yin)行、華北財團的(de)四大(da)(da)銀(yin)(yin)行共同出面交涉(she)。因為(wei)這(zhe)時中(zhong)(zhong)(zhong)興(xing)(xing)(xing)公(gong)(gong)司(si)(si)(si)(si)已(yi)欠各銀(yin)(yin)行債(zhai)(zhai)務達500多萬(wan)元。如果蔣介(jie)(jie)石沒收中(zhong)(zhong)(zhong)興(xing)(xing)(xing)公(gong)(gong)司(si)(si)(si)(si)，這(zhe)些銀(yin)(yin)行欠款將無法償還(huan)(huan)。為(wei)此各大(da)(da)銀(yin)(yin)行聯(lian)(lian)名委托律師登報(bao)聲明：“銀(yin)(yin)行財團擁有(you)(you)中(zhong)(zhong)(zhong)興(xing)(xing)(xing)公(gong)(gong)司(si)(si)(si)(si)存煤的(de)抵押(ya)物品權(quan)，堅決反對有(you)(you)損債(zhai)(zhai)權(quan)人權(quan)益的(de)任何交易。”要(yao)求留(liu)煤抵債(zhai)(zhai)，并(bing)恢復(fu)煤炭生產。同時致電“整委會(hui)(hui)”，要(yao)求接管(guan)中(zhong)(zhong)(zhong)興(xing)(xing)(xing)礦權(quan)后，履(lv)行銀(yin)(yin)行和中(zhong)(zhong)(zhong)興(xing)(xing)(xing)公(gong)(gong)司(si)(si)(si)(si)的(de)契(qi)約(yue)，償還(huan)(huan)中(zhong)(zhong)(zhong)興(xing)(xing)(xing)公(gong)(gong)司(si)(si)(si)(si)所欠各銀(yin)(yin)行500多萬(wan)元的(de)貸款。中(zhong)(zhong)(zhong)興(xing)(xing)(xing)公(gong)(gong)司(si)(si)(si)(si)還(huan)(huan)利用新(xin)聞(wen)媒(mei)體(ti)展開(kai)宣(xuan)傳攻勢，《大(da)(da)公(gong)(gong)報(bao)》發表了中(zhong)(zhong)(zhong)興(xing)(xing)(xing)公(gong)(gong)司(si)(si)(si)(si)總經理(li)朱啟鈐致蔣介(jie)(jie)石的(de)電文(wen)，要(yao)求蔣介(jie)(jie)石認(ren)真履(lv)行國(guo)民政府對內五項宣(xuan)言中(zhong)(zhong)(zhong)保護實業(ye)的(de)承諾(nuo)。當(dang)時的(de)上海銀(yin)(yin)行公(gong)(gong)會(hui)(hui)、總商會(hui)(hui)、全國(guo)礦業(ye)聯(lian)(lian)合會(hui)(hui)紛紛公(gong)(gong)開(kai)致電蔣介(jie)(jie)石，一致認(ren)為(wei)，沒收中(zhong)(zhong)(zhong)興(xing)(xing)(xing)公(gong)(gong)司(si)(si)(si)(si)財產沒有(you)(you)法律依據，將失(shi)去整個實業(ye)界、金融(rong)界對國(guo)民政府的(de)信任和合作。此外(wai)，中(zhong)(zhong)(zhong)興(xing)(xing)(xing)公(gong)(gong)司(si)(si)(si)(si)還(huan)(huan)通(tong)過各種關(guan)系找(zhao)到與(yu)蔣介(jie)(jie)石私交甚好的(de)國(guo)民政府財政次長錢新(xin)之、曾任民國(guo)總統(tong)的(de)黎元洪、國(guo)民黨高官(guan)宋(song)子文(wen)等(deng)要(yao)員直接向蔣介(jie)(jie)石疏通(tong)講(jiang)情。

在(zai)(zai)各方面(mian)的(de)(de)壓力下，蔣介石(shi)命令俞(yu)飛鵬暫緩沒(mei)收(shou)中興公司。后經(jing)過艱難的(de)(de)談判(pan)，中興公司被迫上(shang)交“整委會”100萬元；沒(mei)收(shou)安徽(hui)軍閥(fa)(fa)倪嗣沖和湖北軍閥(fa)(fa)張敬堯(yao)在(zai)(zai)中興公司的(de)(de)所謂“逆(ni)股(gu)”26萬元，這(zhe)才平息了“沒(mei)收(shou)中興公司”的(de)(de)風波。接受(shou)這(zhe)次(ci)事(shi)(shi)件的(de)(de)教訓，中興公司更加注重借(jie)助銀(yin)行(xing)財團(tuan)的(de)(de)經(jing)濟(ji)實力，利用國民黨的(de)(de)上(shang)層關系(xi)。在(zai)(zai)1928年改選公司董(dong)事(shi)(shi)會時，將興業銀(yin)行(xing)總經(jing)理葉揆初推(tui)舉為董(dong)事(shi)(shi)會長(chang)；將一直(zhi)居間斡旋的(de)(de)蔣介石(shi)的(de)(de)財政顧問錢(qian)新(xin)之聘為中興公司的(de)(de)總經(jing)理，使(shi)公司的(de)(de)生(sheng)產經(jing)營(ying)逐步走向(xiang)正軌(gui)。