Page
May 1, 1895.]
brokers and jobbers in Hongkong as there is in Bagland.
Mr. Francis said that was so. Within a com- paratively short period Mr. Gomes re-sold the shares. Then Mr. Hill was called upon to pay calls and Mr. Hill called upon Mr. Gomes to re- fund the money. It had been found impossible to discover in whose hands the scrip and the blank transfer are, or whether the transfer was ever filled in with the name of any purchaser.
His Lordship-That appears to me to be one of the great evils of this blank transfer busi- mess, which, I presume, was started to avoid the payment of Government stamps.
CHINA OVERLAND TRADE REPORT.
was that the fire obtained a good hold of the before the firemen were able to play upon the premises, which were used as a piece goods hong, fismes; indeed the whole of the shop was ablaze, and great credit is due to the brigade for not only successfully coping with the fire in the space of flames to the one shop.
an hour, but for confining the Just before the water arrived there seemed every probability that the fire would assume portions, and this feeling was intensified by the immense pro- fact that a stray spark from the burning build- ing set fire to some kerosene and firewood which had been foolishly placed on the verandah of a Mr. Francis said the real reason was that there shop opposite. The firemen, however, quickly was an enormous number of these kiuds of trans-extinguished this fire, and from the top of the sotions in those years, and owing to the rapidity house poured a continuous stream of water on with which the shares went from hand to hand, the flames opposite. Several jets played upon blank transfer was used to facilitate business. the fire, but the building was completed gutted. Shares would change hands several times in the The premises were insured with Messrs. Siemssen course of a week. Of course the result was that and Co. for $7,500 and with Messrs. Stolten- the payment of stamp duties on the several foht and Hagen' for $7,200 One or two firemer transfers was avoided. The primary motive was had narrow escapes from injury by the falling to facilitate business, and it was distinctly the débris. practice on the Stock Exchange, as it was a more matter of convenience. There were a large number of sales on the Stock Exchange between one settling day and the next, and the only transaction on which the stamp duty is paid is between the original vendor and the ultimate purchaser, though the shares might have passed through a dozen hands in the interval at varying prices and varying amounts of commission. Brokers in Hongkong had been doing, in a slightly different form, precisely what was done on the Stock Exchange in England. The con-
Under the auspices of the Canton Amateur tention of the defence was that there was a sale ment was given at the Canton Club Theatre on Dramatic Society a most successful entertain- from Mr. Hill to Mr. Gomes, and in addition to Saturday last. the mere sale there was an understanding that proceedings were opened by Mr. Brady, of The programme was varied and Mr. Gomes was authorised by Mr. Hill either to the Hongkong Bank here, who made a most fill in his own name on the blank transfer or to successful first appearance in Canton. all in the name of any nominee, or to hand the cited "The Midnight Charge," then gave a blank transfer to any purchaser with a like comic sketch entitled Mr. Montpelier's reci- authority. It was abundantly clear that if atation." and concluded by reciting man handed over a blank transfer of that des- that Jack built." All these items were rendered The house cription he authorised the person to fill it in in a by Mr. Brady in his best style and it is almost proper manner. Therefore, as Mr. Gomes had needless to add that they met with a most distinct anthority to fill in his own name, or the enthusiastic reception," Mr. Montpelier's recita name of his nominee, or to hand the papers to a third party, there was no contract of indemnity tion" being perhaps most to the fancy of the between the parties.
His Lordship-You are contending that the burden of seeing that the transfer was completed lay upon the vendor and not upon the vendes?
Mr. Francis-Certainly. In the second place we say that even if there was a contract to indemnify only during the time Gomes held the shares, the indemnity was against any calls made while Mr. Gomes was the owner of the shares and nothing further, and that the moment Mr. Gomes parted with the possession and ownership of these shares his liabilities were at an end, as well as his bene fcial interest. It was precisely alike, in every respect, to the liability on a lease. The original lessee transfers the property of which he sold the lease to a sub-lessee. The sub-lessee under- takes to pay the rent and indemnify his lessor against all liabilities in respect of the rents and covenants, but as soon as he transfers his inte. rest in the leasehold property to another person his liability to the original landlord and for the payment of the rent ceases. Mr. Francis then quoted cases in support of his contention.
His Lordship-I understand you to say that the facts are not in dispute.
Mr. Francis-No.
His Lordship-I think you have raised a very fair case, but of course I do not give any opinion
as to the ultimate decision.
Mr. Francis-Your Lordship grants leave to appeal P
His Lordship-Yes.
SERIOUS FIRE IN JERVOIS STREET.
SHORTNESS OF WATER.
|
On Friday the charred remains of a Chinese tradesman were found amongst the debris at 19, Jervois Street, where the fire broke out on Wednesday night. It is supposed that he was suddenly overcome by the smoke and was unable to make his escape.
ENTERTAINMENT AT CANTON,
audience.
י
DIFFERENTIAL DUTIES AT
CANTON.
329
The appendix to the report of the Committee of the Hongkong General Chamber of Com- merce contains correspondence on the subject of the levy of differential duties at Canton. The earlier correspondence has already appeared in our columns, but the following letters have not hitherto been published :-
THE CANTON CHAMBER TO THE HONGKONG CHAMBER. Canton Chamber of Commerce,
Canton, 26th November, 1894. Sir-With regard to the subject of prefer-
in the Hongkong Daily Press. I am instructed by ential duties at Canton and the recent correspon- dence relating thereto, which has been published this Chamber to call your attention to the fact that the letter of the 1st September last, addressed by the Hongkong General Chamber of Commerce Affairs, is calculated to have an effect somewhat to the Principal Secretary of State for Foreign injurious to the greater portion of the trade from this port to foreign countries, inasmuch as it advocates the passing of all cargo intended for export to foreign ports through the Imperial Maritime Customs, which virtually means an insistance upon the payment to the Chinese Government of the maximum rates of imposts allowable by trẻnty.
This Chamber considers that there is nothing in the treaties making the lowering of duties by tion of the treaty obligations. the Chinese Government in any way an infrac
owned, but native property conveyed in native The shipments hence by junk are not foreign
kong; they are not the property of the foreign bottoms for delivery to foreign buyers in Hong- buyer until the said delivery is made in Hong- basis natives are enabled to sell at considerably He re-kong, and by conducting their business on this lower rates, thereby benefitting the foreign buyer consumer in Great Britain and elsewhere. at this port or in Hongkong, and ultimately the
sisted of the one act comedietta " Uncle's Will," The second division of the programme con- in which the characters were :--
Charles Cashmore, E.N.. Mr. Barker
Mr. J. H. Perry ....Mr. E. T. Bond
Mrs. Ruff.
a
distinctly benefited by such delivery of goods Merchants at this port and at Hongkong are in Hongkong sech delivery being in no wise an infraction of anything in the treaty
John Walsham, and late Consul, Sir Chaloner doubtful (as admitted by the late Minister, Sir with Great Britain, and it being exceedingly
Alabaster) whether it could be taken as contravention of Article III. of the Commercial Florence Marigold
Treaty between the United States and China Cashmore and Florence Marigold provided allowed, to avail itself of the lower duties An uncle bequeathed £50,000 to Charles to see why the trade of this port should not be of 17th November, 1830. This Chamber fails
they married one another within his death, and the parties are of course entirely own subjects, in order to obtain produce a year of charged by the Chinese Government to their be added, apparently equally so to giving up terms than would otherwise be possible. averse to performing the contract and, it might delivered in Hongkong on their claims to the legacy, which failing
more favourable
the marriage was to go to Mr. Barker. Ul-doubtless identical in a great measure, but the The interests of this port and Hongkong are. timately they decide that it will be better to assertion that your Chamber represents 90 per marry and so let the money come to themselves cent. of the trade hence is misleading, and I mad dogs, for which Mr. Barker, whose sincerity branches of trade from this port, namely, that in than to let it go to the formation of a home for subjoin statistics of one of the most important in making this declaration is questionable, states tea, which speak for themselves. he will employ it if it comes to him.
Mr. Perry acted well as Charles, showing an ability in grasping the character which many of his friends did not credit him with. Mrs. her acting being spirited and graceful and her Ruff was a distinct success as Florence Marigold, elocation remarkably good. Mr. Bond, though at times good, scarcely performed up to his reputation and his part hardly seemed to suit him.
another entertainment by Mr. Brady, who gave The third part of the programme consisted of a humorous sketch in the shape of uropean Guides," which excited much merriment, and then sang “I handed it over to Riley" and The Grass Widower," both of which justly earned a large amount of applause, and it was Canton as everywhere else. very evident that Mr. Brady is as popular in
The intervals were filled by the Canton Phil- harmonic Society, which played the “Calife de Bagdad" and the " Trip Away" and " Pearl of the Ocean" waltzes iu commendable style. The general arrangements were excellent and reflect much credit on those whose care they were. is to be hoped that after attaining such a favour
It able result to their efforts the inhabitants of and it can scarcely be doubted that they would Shameen will be tempted to make further ones
About ten o'clock on Wednesday night a fire broke out on the premises of Kwong Loong Yuen, 19, Jervois Street. Assoon as the alarm was given the Fire Brigade, under Assistant Superinten- dent Corcoran, turned out, and was speedily on the scene. There was considerably delay, however, in obtaining an adequate supply of water, as the fresh water mains were cut off, and the firemen had to wait for a long time, with empty hose in their hands, for a supply from the harbour. Several minutes elapsed before steam could be got up on the fire engines, and the consequence i be equally successful.
4
Be the percentage represented by your Cham- ing to treat all questions of treaty rights from ber what it may, merchants here are quite will- an imperial pout of view, and in this spirit to obtain redress for a grievance which, as far as they would urge your Chamber not to endeavour Hongkong is concerned, affects a portion of the shipping interest only, in a way calculated to be to the disadvantage of the trade from Canton in
general.
proportionate extent of the interests involved; The following particulars will demonstrate tho the gain to the tea trade during season 1894- 1895, on the basis of the subjoined statistics of export has been, say
222,840 boxes at 20 lbs. each piculs 33,426, at half a tael per picul $23.212.50 plus cost of river freight $5,571.00
$28,783.50
$5,571,00
whilst the loss sustained to the ship- ping interests, calculated on the same basis, at 40 boxes to the ton, at or, in other words, taking the tea trade
$1.00 per ton, has been......
of this port and Hongkong would be only as an example, the joint interests the losers by the prohibition of junk the extent of about shipment, as carried on at present, to
...$23,212.50 Further, the Foss on freight on tea is 200 per