1130.
THE FRIEND OF CHINA AND HONGKONG GAZETTE.
to the contractors to the 1st October last for the new vessels now building, was. 60,000Z
And the additional instalments called
by the wreck. It was trades that they sivalt all have gone in the Pin- pace but she gritted with only three men in her. The jolly boat being swamped, the whole of those for, and paid by the Proprietors for upon the wreck embarked in the cutter and on a this object, only amounting to... 36,000!. raft, but what became of the latter is unknown, as The difference (24,0001) has been provided out of they separated and it was not seen afterwards-- the unilivided profits of the concern, it is to be hoped however that it reached the coast Her Majesty's Government having consented of Cochin China, or some other land. No doubt that until the larger ships now building by the search will be made for the 21 persons who em. Company are completed, others of less power and barked on it. The cutter, containing 38 men re- capacity might be temporarily employed, the Dis ached the coast of Cochin-China near Cape Turon rectors have been under the necessity for some on the 1st November where the pinnace arrived time past of engaging chartered ships for this sor the next day, and they remained at the place where vice, from which expence the Company will be they landed for nine days and were then conveyed relieved in the course of the ensuing year, when to Turon. During their stay at Turon they were the new vessels will be ready to take up their res treated with the utmost kindness; all their wantspective stations. were supplied, clothes and food being given them and money furnished for the purchase of fish. On Chrismas day they were provided with a liberal dinner of ducks, fowls, and butcher meat for the Christians, and each person was presented with a suit of clothes. This was in consequence of the Cochin-Chinese interpreter, who had been educat. ed at the Singapore Institution having informed the authorities of its being the Custom of Chris- tians to observe the 25th December as a festival. All speak with the utmost gratitude of the hospita lity and attention manifested towards them by the Cochin-Chinese Authorities and people.---Ibid.
STEAM.
In reference to the vessels now in course of con struction, the Directors report, that they consist of nine ship, of the collective tonnage of 9,575 tons, and 3,490 horse power, contracted for under tender with the most eminent ship buildere and engineers of the day; and they will be finished in every Des pect, not only with a regard to their permanency and efficiency but to afford superior accommoda, tion for passengers
The entire cost of these vessels, complete for service, will be amply met by the remaining ins taliments (not yet called for) on the shares already appropriated for the purpose, pursuant to the Com pany's circulars of 24th February, 1844, and 22d March, 1845.
going Directors by ballot, and the Hon, J. T. L Motrille and Jameson Hunter, Esq, the outgoing Auditors, have offered themselves for re-election on this occasion, and as they are immediately re-eligi- ble, according to the terms of the Deed, the Court, recommend cordially and unanimously that the choice should fall upon these gentlemen.
COMMERCIAL INTELLIGENOE EASTERN ARTICLES.
Alum-The Junks have imported 3,350 picals during the Month which will probably sell at 81.60 a 1.70 per pcl.
Aniseed, Star-None and seldom wanted; last sale at 874 per pcl. Antimony Ore.-Imports of 2,200 piculs from Borneo but being a monopoly no sales have taken place.
Arrack. Batavia-Imports of about 300 casks which are moving off slowly. 126 casks sold at $7 per half Leagr. ·
Betelnut-The Market is cleared, and the Ar- ticle is wanted at $2 per picul for shipment to Calcutta.
Camphor China-Nominal at $16 per picul. The Junks with large supplies have been expected for some weeks but up to this period no importa tions have taken place.
The Court also beg leave to acquaint the Pro- pictors that Patrick Maxwell Stewart, Esq., M. P. a qualified Proprietor, has signified in due form that he is a candidate for a seat in the Directory, and they cordially recommend this gentleman to the Proprietors for election, as independently of Mr
Bees Wax-The supplies have been under 80 Stewart's well-known talents and honourable cha-piculs during the Month The demand continues racter, they consider it highly essential to the Com- good at 888 & 32 per picul. pany's interest that one, at least, of the Directors should have a seat in Parliament. satisfactory nature of its contents.
The chairman having read the report, observed upon the
They were not only highly gratifying to the court of directors to have to présent, but to the proprietors also to receive, since they were uproof that the affairs of the company continued to progress, and fully appreciated by, and had gained for them the confidence that regularity and efficiency in all their operations were and support of the public. Since, the directors last had the pleasure of meeting the proprietors, it has become incumbent on them to increase the number of their vowels, to meet the emergencies of the service, and to provide against inter- ruption of that service by a supply of supplemental vessels on the distant stations, where, should unforeseen accilents occur, they cannot remedy the deficiency. That would account for the considerable increase of oatlay which would have attracted the proprietors attention The construction of the machinery and hulls of those ships had been intrusted to the most able and approved huilders of the day, so that they should combine in themselves all modern improvements, par- tically those relating to ventilation, Upon that topic they had consulted the most celebrated scientific men, and they hoped the result would be entire satisfaction. There was
We give below a full report of the Peninsular and Oriental Steam Company. It must be satisfac tory to the shareholders generally, although disap: pointment has been expressed by some, that the tong, with machinery of $754 horse power, ex- better to mention-viz., that relating to the supply of coal-
dividend is not increased. Whether it would have been prudent on the part of the directors to have done so, is a question to be settled between those gentlemen and their proprietary.
་
one question not alluded to in the report, but which it was
a subject of great difficulty, and one which has the anxious attention of the company. Since the introduction of tubu lar boilers it had become necessary to seek a description of coal of a peculiar quality to suit that kind of boiler, and con siderable difficulty was experienced in finding it to the ex- tent required by the company. Another circumstance cou- neeted with the supply of coal was the extension of their operations in tropical climates; for ordinary coal sunt into tropical climates depreciated rather more than 25 per cent.
When the vessels referred to are completed, this Company will possess an efficient fleet of twenty five sei-going Steam Ships, representing 25,923 clusive of the smaller vessels employed in Egypt.
The extension of the Company's lines in the East to Hongkong has been carried out since the last meeting of the Proprietors was held, and has That seven per cent, is not a sufficiently remune.
been satisfactory in its results, both as regards the rative return to those who adventure capital in such interests of the public, and that of the Proprietors, perilous undertakings cannot be denied; subject as The postal communications with China which fro such property is to depreciation from wear and quently occupied, until lately, four and five months, fear, to say nothing of the great probability of] are now reduced to about fifty days; and a strong measures were in progress on the completion of which they desire, it appears, is manisfested by the local Colo some new motive power being discovered, or of annial Authorities, as well as by the mercantile com improved adaptation of machinery to the present, by which the value of steamers now plying might be greatly reduced. With this reasonable view of the subject we agree with those who think ten per cent, profit on paid up capital is not more than may be fearly expected, to give encouragement and premanency to projects of this kind.
and
These matters had attracted the attention of the directors, and
hoped to be enabled to announce that they had obtained control over that essential commodity as to meet all the ex- igencies of the service, and give entire satisfaction. He thought be need not dwell on the figures connected with the report which he had just read ; but there was one item which should not be allowed to escape attention that was the in- oreose in the insurance and since their last meeting. Whilst that afforded considerable security for the property of the company, it also gave a convincing proof of the ability and judgment with which their affairs were conducted by the three genilement composing the committee of management, Before sitting down, he might affude, with a feeling of pecu tar gratification, to the presence among them on that noct- sion of a distinguished and influential native proprietor [Dverkansuth Tagore, who eat amongst the directors).
munity, connected with China, &c, for the exten. sion of Steam Navigation, not only to the Northern Ports, but also to the British Colonies in the East Australia, Mauritius, &e. ; theasures which, doubt less, will in due time be carried out under the sand tion of Her Majesty's Government. It is scarcely It is universally admitted that the financial affairs necessary to assure the Proprietors that no oppor. of the company before us are prudently and econo-tunity shall be lost to promote their interests, should mically managed, also that the service it undertook such extension be determined upon; but they feel to perform is faithfully carried out. Believing this, it more prodent, at present, to attend to the develop until the company can pay ten per cent. dividend, I ment of the traffic on the existing lines occupied That gentleman had not only given great attention to the
put by a moderate rest-fund to meet contin- by this Company, and the short branches connect gencies, we hope we shall bear no more complaints ed therewith, than to enter upon untried fields of en- larged operations. Arrangements are being made in of the "high rates of passage, by these vessels.”
the rocantime to procure accurate information as to Ocean Steam Navigation, by means of vessels of the trade and probable intercou-se likely to arise large burthen and power, is confessedly the most costly medium of transit in operation. We are with the British Colonies in the East, should the charged threepence per mile, if we travel by rail, same be directed into the trunk lines established by this Company, in order that the Directors may In this country; now, if we deduct 1öl, the sum paid by the Peninsular and Oriental Company, for avail thereof if circumstances render it expedient, transit of each passenger through Egypt, and es timule the balance left, it will be found under four pence per mile, from Southampton to Calcutta! The traveller being well fed and comfortably lodg.
The Directors reported that the fourth contract entered into with hur Majesty's Government na. mely for the additional line of communication in the Mediteranean established in connexion with the from Bombay, has been in operation since June 1945, and that the service has given satisfaction, They have lately been enabled to effect a satisfac
subject of the extension of steam communication with the East, since it was first thought of, but had also, amidst his varied and numiorous pursuits in this country, found time to attend there that day to offer some valuable suggestions on the subject of the comfort to be experienced on board the company's vessels-suggestions the more valuable, as found. ed on that gentleman's personal experience. In conclusion, he would say that they might fairly congratulate the public
Coffee. The Market supplied with little or none for sale. Imports would command quotations. 230 bags of Jav, old wormy, sold at $4.85 a 4.90 and 33 bags at $3 60 per picul
Cotton-Prices aominal. The demand being good in the Northern Ports in China it is expected that the Junks will buy largely this season.
Cotton Goods, Bengal and Madras Piece Goods. during the Month. -No espon demand and only triffling sales made
Cassia-None; last sale at $11 per picul. Cutch Pegu.-Inquired for and no imports for sometime past.
Ebony No supplies from the Mauritius and · Ceylon which is attributed to the low price, ruling here for the last few years. The quality brought from Ceylon in demand for the Junks.
Gambier-On the departure of the last Mail prices were on the advance and sales were made at $1.75. since which the absence of Tonnage for England has caused a decline and considerable transactions have taken place at $1.70 1.65 1.60 and it is now offered at $150 per picul,
Gambouga. - Continues to be sought after and sales of the limited imports have been made at quo-
tutions.
Gold Dust.--Scarce and much wanted for ship. ment to Calcutta.
of good quality, is in demand for shipment to Eu
Gum Benjamin.-Limited supplies. This article,
rope and India. Gum Copal-in no demand,
Hides & Horns, Buffalo-Small supplies which readily find purchasers at 81 a 44 for the former; of the latter sales have been made at 85.70 per pel. Mace & Nutmegs --The small quantity taken by most of the Junks last Season has been favor- ably reported upon and purchases on a larger scale are likely to be made this year.
Mother & Pearl Shells Supplies readily find purchasers at fair rates. An import of 250 picuts from Sooloo has been sold ut $13) per picul.
Orion. The Market has been very doll through ou the establishment of steam communication between this out the Month. No Putna for gale, and the de- country and India and China. The more that communica
mand for Benares has been confined to the imme- tion was developed the more the company appeared to t
diate wants of Native traders. 10 chests offered at ceive the support both of the British and Indian communities, The Secretary then read the statement of the profit and
Auction averaged 8632 and $640 ₫ 650 are now loss accounts for the year, and
being given. The arrival of the new Drug is Dwarkanauth Tagore proceeded to state that he was in-hourly expected when sales to some extent inay bo
ed the whole distance. We hope these remarks East India Company's Mail Steam Vessels to and trusted with the moving the first resolution, and before doing looked for. In Mulan no demand exists. Imports
will be considered neither ill-timed nor out of place, in reply to several correspondents who think the present charge for passage ranges too high.
The annual meeting took place at the Company's Offices, 51, St. Mary Axe, on Friday last, Sir John Campbell, in the chair.
REPORT.
The successful result of the Company's opera- tions hitherto, and the gratifying position of its finances at present, enable the Directors to convey to you on this occasion the assurance of their un- diminished confidence in the continued prosperity of the undertaking.
They have to inform the Proprietors that the nett profits for the twelve months ending 1st Oc. tober, 1845, exceed those of the corresponding pe riod last year by 17,922.
This result is realised after proper provision bas been made for the prospective outlay, which may be required in the next half year, upon vessels now at work, and also setting apart out of profits, fivo per cent for the last year, on the first cost of the entire fleet afloat, as a fund to meet the depreciation going on in the ships. The sams now remaining in account appropriated out of profits from time to time for the purpose of building new hulls, &c, or replacing bereafter machinery, in any of the existing vessels, amounts to 78,0001
The Directors take the opportunity here to state, that the Company's new ship, the Madrid, built to supply the place of the Liverpool, No. 2. the bull of which has been sold, took up her station on the peninsular line, on 17th of November, and appears well calculated for the service. Her first cost, complete in every respect, has been provided for, out of the depreciation fund above referred to.
tory arrangement for increasing the receipts of the vessels employed in this service by extending tho communication, which hitherto terminated at Con- stantinople, to Trebisond, and other ports on the Black Sea, on which line there is considerable traffic.
so he wished to say a few words. Ho could never have camo to that meeting had it not been for the establishment of stonin communication between India and this country, and he was, therefore, indebted to the company for all the advantages he derived from a residence here. He need not go into details respecting all the benefits that flowed to both countries from the establishment of that communication, but he might ab serve that whatever support he had given to the company had not been dictated by selfish motives, for he had never imagined that the shares would pay. The objecs had been to benefit the country generally, and now looking to the re-
whereby this Company has attained its present in.
The Directors, in reviewing the successive steps.sults, who would ever have thought, a few years ago, that in a period of less than three months letters between India and England could be received and answered. With respect to is in a great measure to be attributed to the conf. the conduct and courtesy of the captains and officers of the dependent position, feel well assured that its success the management of the ships, he could not too highly praise
company's vessels Io the various passages he had made in dence which has been inspired by the regularity then he had witnessed the kind attention which they had with which the service has been performed, and the always paid the passengers, and for himself he found just as efficiency of the vessels employed in the duty under mach comfort as if he wore in his own home taken by the Company,
was one little source of complaint which would remain as So far as relatos to the important question of the lang is John Bull would have things ha own way, and that embarked in Steam Navigation, the Directors feel was not to be has secasionally (a taught. There was in pecuniary interests of Proprietors whose capitalist at tunes the mutton chops were not quite as good as in England (laughter), and perhaps enough of soda water that the only prudent course to pursue is that of reality only one matter that required remedy, and that was providing out of the annual profits the means fo quired under the following heads ;---
1st. To maintain that vessels in the highest siste of working efficacy; and for that object, to keep always in hand a sufficient sum to cover the repairs of the vessels.
2nd Toproceed as your Directors have hitherto done, in establishing and maintaining a sufficient Insurance Fund to meet casual tics, the minimum of which, as relate to ibis Company, should not be less than & 100,000, to be invested in improved and available securities.
Pertapa there
the insufficient ventilation, which rendered the cabina, large anugond as they otherwise were, quite insupportable at ngies from beat, whether the grammy was April or December. The
last time he came to this country he had formed the resolve
En now did
to pention the matter on the first opportunity so, and be was quite sure that whawver could be done to remedy the evil woukl-be so. It was the interest of the coin-
of Turkey remain in first hands.
Pepper Black-Imports have been on a larger scale this month. One lot of 2,000 piculs, clean and dry, was sold at 884 10, and several other lots of Rhin & Singapore ut a few cents per picul higher, White-About 1,000 pieuls sold nt 87, 64, 6), and 80.30 and Long at 93.35, per picul,
Rice-Fine Java continues to be much wanted and supplies would command $75 a 80 per eoyan, Considerably imports from Arracan, the greater part of which is being shipped to Ching. Sales of now Arracan at $15 and old at 842 per coyan,
Rattans & Canes – Imports of the former 24,000
piculs, and of the latter 25,000 in. No, but no sales of consequence have taken place,
Sago Pearl and Sago Flour.- Continue at the high rate of 931 a 33 for the former add 831 be the latter. If tonnage were available these prices
likely to go lower. might be maintained but for wout if it they are
Sugar. —Of good quality scarce and of inferior the Market is supplied to a limited extent. No sales. to notice during the month.
Sapan Wood Manila,→Sales have been made of 3,000 piculs at 81.70 per picut.
Segara Manila.-Considerable imports and sales A the early part of last Month pany to provide a remedy, for he was convinced many would al various rates. prefer the long voyage round the Cape to sudering the igeln. | 2000 boxes No. 3 sold at 8102 and 1000 boxes at venience arising from the bad ventilation of the cabina of | 89), since which the price has been gradually de-.
bats in the cobras of the navigation' down to Alexan the company's ships. The number of appages made by the chaing Salva made of No. 3 at 807 a 10 No. 4 dra was also a great source of inconvenience, bir is exprand
at 873 a b and by Auction 90.70 49.85 per No. 3 persona to the danger of not being in time to secure their
and 3170 a 7 80 per 1000 for No. 4. panage by the steamer tune to Europe. The bon, proprietar than med that the rapues jous tead be adopted and circa. latel neng the proprietors.
3rd. To maintain a Fund to meet the deprecia.
tion of the vessels, out of which, new ver- ad mhat the subject of vendlauon had been for tater time Francis Clarkton, Faq, one of the managing directors, In compliance with the terms of the list report, sels shall be provided to supply the place of under the consideration of the direct, and that meal 50th May, 1845, the Directors have invested the bulle and machinery worn out in the service, trials had been nasde for the purpose of increasing and an. further sums of 18,0001, and 7,000, in Govern. The Directors feel, that, continuing teast as
proving the reaction of the casing. At the time thosA ment 34 Annuities, in the names of three of your they have hitherto done, in providing for the expense heat beers in the cast for several gear as comman
esbian had been planned the opinions of the must practical- Directors as Trustees, Sir John Campbell, &c. n. diture which sponer or later must be incurred under den of asing veh, were takes on the subject of ventia Josh. C. Ewart, and Francis Carlton, Ears, for the foregoing beads, they are adopting the striat sun, and a cumarte of three of these gentingan was cono account of the insurance Ford, making with the means to protect, premanently, the interests of their bed before the plane of the cabine were finally determine 10,000 invested last year a eum of 30,000, and Proprietore, by maintaining and perpetuating, at lady exit the befire the sift this side 3 wy. The Gzeczars, bouwver, had lawly ragmired foto an they have considered it their daty to appropriate original value, the floating propeng of the Company, prie s valable spotions on ske suh- out of the profits of the past twelve months, the They have well-grounded expectations, thas the hat, which to had so doubt would gatto there on escoroplis& further sum of 22,000, for the same object, it be income of the Company will enable them to carry all that was desired. Ele might add, that the director won't ing the anxious desire of the Directors to make up out these measures astafactory, and at the same he us happen any and aggastin on the matter,
The emptyska mea thek pre fora tion obair and entred, as speedily as possible, the Insurance Fund to time to provide a recospèrzăre dividend to the Pro
De Campoen movet, end Me Artvysto saeorudud ran baxt 100,000, and to retain it in Government or other prietors, on their capital centerked in the undead, "That a dividend of 14 per cunt recorrenzended solid securities, at that amount se a minimma, the faciGE
In the reptes son wed to pajaklu on a after the Plat of interest thereas to be added to that fost. *
When the lesstance Frnd (now cusovisting to Deponer. 1913, tevern the hours of prefen auf tören Had it not been for the heavy cutly now going (4400) has reached the mat which it is record the same.
Valuck gets sina, by wich proprietien de apa duly pulizient de forward in providing additional revels for the mended it shall be paimained, vin £100,000, 12) Company's operations, and the cash payments made further appropriation of the profts will be be the on account thereof, the Bounces ucald revdly counterapica of the Propriers, have admined of the said sum of 94001, being The Directo BUT CHOOLAarad that the newsl also invested in Government Securities; be the dividend off per cent the six sample on the paid directs for mit gut with Directors felt it was must advantageous to help expéti te doctores, and that the lacome Tax Proprietors, to employ the surplus funds writing there be paid out of úr evrybut pestita out of the profits of trade at their disposal to mod Perunat to the antics give is culling this men, this outlay, and which has enabled thers hitherto iing, the Proprixton are requére a day to sac to postpone making mure than three culls for reo Ensectos talte Ander G. W. Instalments on the new shares. The mono prid laut Capais &. Then, R. Ny rho are the way
Sik Raw, Cantem No. 3 –Very deß of sale at $250 a 235. Sales of 15 picula. Yellow Silk Im- ported by Hylam Junka at 9210 per pieni.
E
The-About 10,000 picols have been imported by the Junks but the only transactions to notice ses small shipments to fiilin of good quality at 80.
0.40
per
bux of 20 cattien : Tin, Strada -The demand continues good Sapphics of about 1,000 picuta havo heon sold, at 817.30 @ 17.40 per picul and these rates are likely to be maintained.
Torbian-shell. --None for gals and wanted.
EXCHANGES.
Ox England-Sales to fume extent have been made of Bills at 6 Manthan-sight at da 3d a ds 3jd - and to a limited amount in Navy and Bank of Austalla Bills at de zi.
On Calcutta. --Tranmctions have been on a li. mited wale at 491 4 79%
Un Madras & Boutey, -Seldom wanted ; no-
minai rata 120
On Chias, – Ornerally silable at par
TONNAGE,
be diesches ant audien ompany by halks wma 14- dected, and Parts Mavel thewin, cap, MP, he see razhd, CA Tuzannaly sixcontinuer the disct.
To England continues carce and much wanted, Kane Cement Drup, of the Madre Amy, complained | The Lady Howies and Lanchester sen kauling for China, with His at Acesta per piest. The Lady adunt, although he did the ly the only meet cow loading for England,
vederiin wist te he found as we present cerament.
The pores wised the great the egallang af gableitung tur i madh ort, davis de suceder vi mies to wink parsed, for a woman in grau mert The wye kwa I spin wag amat 200 enquiniat
ja
4.
to
mesting passed in great gond lactone at pres her passo Madly Tian?
Bilised, Printert nd Published by Joda Caan, As The Frend of thin auf Hinghong Gérantie. Pristbay Offine, Conna descer, Virouts, lugugano, Pili,