410
MESSRS. J. LLEWELLYN & CO., LIMITED.
The sixth annual general meeting of this Company was held at Shanghai on the 20th inst. Mr. Alex. Mo Leod presided.
not
The Chairman said-The report and ac- counts for the year ending the 31st December, 1894, have been in your hands, now for some little time and I presume you will permit us to dispense with the formality of reading them. The Directors regret that they are.
you & tpore able to place before
satis- factory statement of accounts than they now do, but that has been impossible be- cause during the past year we have had a great many unusual difficulties to contend with. You will all remember that in 1893 we sent home for a General Manager to succeed Mr. Watkins, who was then leaving. I have no hesitation in saying that a great deal of trouble was taken to select a gentleman fitted in every way for the post, and we were confident we had found one, but after the experience of the first year of his general management, we came reluctantly to the conclusion that it was absolutely necessary to dispense with his services. I do not wish in any shape or form to disparage Mr. Sinclair as a chemist, but I say that as a business manager he proved an utter failure; and although the Company had gone to the expense of sending home for him. and according to his agreement would have to give him three mouths salary as compensation for terminating that agreement, we had absolutely no other option but to pay him his three months' salary and let him go. I feel sure I am but expressing the feelings of all the shareholders in saying that we did not appoint sorry, Mr. Allan, the present Manager, succeed Mr. Watkins. On the retirement
We are
to
THE HONGKONG WEEKLY PRESS AND
CORRESPONDENCE.
of Mr. Sinclair, Mr. Allan was offered the post and accepted it, and though be has held it only for six months, I am happy to Bay there is a considerable improvement in the way the business has been conducted, and I believe I may say we are on the road to had to contend better things. We have also with a very great interruption of our trade caused by the war between China and Japan, but now that this is at an end we have every reason to expect that our business with the
North will outports and the
ure by no improve. Although the accounts means satisfactory they show a considerable improvement on last year, for whereas last year we were compelled to write off $17,000 as a loss
on the year, we bave this year made a small profit, after paying off all expenses connected with the Company, and although it is only a small amount it shows, as I bave said, that we are on the road to improvement, and with the careful manner in which the business of the Company is being conducted, we have every reason to hope that next year we will be able to present you with better accounts thau the present statement. Of course you will understand that it is quite impossible to dividend; of the recommend
payment but in the near future we hope to reduce the debit balance and before very long, if things continue as they are going on, to be in a position to pay a dividend. I have nothing more
to to say, but before asking you pass the report and accounts, I shall be happy to answer any questions that you may wish to put,
There being no questions,
સ
The Chairman moved that the report and accounts for the year ended December 31st, 1894. as printed and presented, be approved and passed, Mr. F. W. Such seconded and the resolution
was carried.
Mr. H. J. Limby proposed, Mr. Drummond Hay seconded, and it was unanimously agreed, that the appointment of Dr Macleod, as a director of the Company, be hereby confirmed.
[We do not hold ourselves responsible for the opinions expressed by our Correspondents.]
THE TAIPINGSHAN RESUMPTION
QUESTION.
TO THE EDITOR OF THE "DAILY PRESS." SIR-I wish to make a few remarks with reference to the Taipingshan Resumption ques- tion, which came before the Legislative Council on Thursday last and to the leader thereon in your issue of Saturday,
You state the loss to the colony will be half a million dollars. This I consider is too high a
figure, though agree with you that a Com- | mission should be appointed to consider so important a question and reduce the loss as much as possible. The total expenditure for the resumption by the present vote of $20,000 is brought up to $82,000 and we have the assur. ance of the Colonial Secretary that this will cover everything, though the important item of interest on the $820,000, as also the loss of Crown rent and rates, cannot be included in that figure. You state the number of houses resumed to be 417, which you average at $750 per house, equal to $312,750, less the few houses which you say Mr. Cooper would allow to remain. These are good houses and 28 in number, which should be deducted from the 417, thus leaving 389 houses to be destroyed. Now the sum at which you average these houses, i.e., $750, is far too high. A great number are small old houses and cannot represent a loss of anything like that figure. I should say that certainly not more that $5 0 per house should be taker, less the value of the old materials, which I put at $150 per house, thus showing a loss of $350 per house, or equal to : 136, 01,
The price paid by the Government for the land resumed, exclusive of the buildings, works out at $24 per square foot, and seeing that the area to be sold should be more advantageously laid out, giving a good street frontage to every house instead of the numbers which were formerly in narrow lanes, the value of the land per foot should certainly be subanced, though the area to be resold is reduced to 198,000 square feet, and if this land is put up iu suitable lots should realize an average of $25 per square foot, or equal to $470,000, from which must be deducted $$3,000, the cost stated for making the new streets, &c., thus leaving $387,000 as the sum for the 188,000 square feet to be resold.
We have therefore as follows:- 188,000 sq. ft. at $21.
I. L. 592 and 593 with 28 houses there- ou, price awarded by arbitrators... Value of old material in 289 houses
destroyed at $105 each
Total.
Cost of resumption Cost of forming new streets, &c....
Total
or a loss of $295,000.
|
[May 29, 1895.
FOREIGN MISSIONARY RIGHTS IN THE INTERIOR OF CHINA.
THE CONVENTION BERTHEMY.
The China Gazette publishes the correspon. dence between the French Government and the Tsungli Yamen, re the " Convention Berthemy," regulating the acquisition of land and houses by Roman Catholic" missions (and equally so, of course, by all others whose governments bave the most favoured nations clause) in the interior of China, which has been lately ratified and put into force after lying for thirty years pigeon- holed in Peking :-
Letter from the Tsungli Yamen to M. Berthemy, Minister of France.
CONTENTION BERTHEMY.
The 25th day of the 1st moon of the 4th year, Tangchi, February 20th, 1865.
We have the honour of making known to you the following decision (made) with regard to the collective property of the Catholic missions In future if French missionaries buy ground or houses in the interior of the country, the vendor
...(name) must specify in the title-deed that his estate has been sold to form part of the collective property of the Catholic missiɔn in tha locality. It will not be necessary to insert the names of the missionaries or Christians.
(Letter annexed to the Convention Berthemy, 1865.) Copy of the letter addressed by Trungli Yamen to the Governor of the Kiangsu, Li,
To His Excellency Chao-Tsinan (surname of Li Bung-chang.)
Distant with much regret from your flowery dwelling, our modest thoughts turn unceasingly towards you, with firm hope, and standing on tip-toe to seek your presence, our sentiments We like to think augment as time increases. that at the present moment happiness, ever in- oreasing, accompanies your footsteps, as the joy attached to your honourable person offers an image of peace.
We turn towards the contemi- plation of your brilliant deportment, and our expressions are on every point in keeping With regard with
sincere sentiments. our to actual information concerning the ques- tion of France buying ground for the fals ing of religious edifices, our Yamen has de cided, after discussing the matter. that honos- forth French missionaries penetrating into the interior and buying ground or houses must take care that the contract contains the following ...name and surname of the netstipulation-(..
vendor) is selling the estate in question to be. come the collective property of the Catholic mis- sion in the place. It will not be necessary to enumerate the names of the missionaries or of the Christians.
$470,000
79,000
59,000
$608,000
$820,000 83,000
$903,000
Both the 70.000 square feet taken for streets and the $83,000 for forming them I consider excessive and believe they could well be reduced.
There is another most important point with. out which it is impossible t.. see really how the colony stands as regards this resumption, viz., the Crown rent. The whole of the property resumed was rented at almost nominal Crown rents, and though I am against anything like excessive Crown rent yet it is certain that the colony will receive considerably more rental from the land when resold, and the difference
between the old and new rental should be
capitalized and put to the credit of the resump tion. When this is done, instead of showing a loss of half a million dollars, I believe it will be found that it will have cost the colony very
This is the subject of the present letter that we address to you and beg that yon should notify to your subordinnates that they conform to the above regulations.
In acting thus the religious establishments will remain the collective property of the Chris- tians which will in no way cause detriment to China.
We take occasion of this opportunity to pre- sent you our best wishes.
Letter from M. Gerard, Minister of the French Republic in China, to His Highness the Prince Ching and to their Excellencies the Ministers of the Tsungli Yamen.
Your Highness,
Your Excellencies,
In your reply of the 16th of this month to my letter of July 16th, concerning the affair of Lo-Icho bien, your Highness and your Excel- lencies make a citation from an official letter, dated from Moukden in the 8th year of the reign of Tungchi (1869), and containing bosidek the substance of the Berthemy Convention with regard to missionaries buying ground or houses,
this passage:
"The vendor must firstly take advice of the local authorities and demand their authorization i
Mr. Limby moved that Mr. F. W. Such belittle, provided it is properly and quickly carried they will decide whether it be expedient or not
re-elected a director of the Company for the cur- rent year.
Mr. Allan seconded and the motion carried nem con.
was
On the motion of Dr. Macleod, seconded by Mr. Such, Mr. Drummond Hay was re-appointed auditor.-N. C. Daily News.
out.
Several months have already elapsed since the arbitration was closed, and the loss by interest, Crown rent, and rates must amount to something like $10,000 per month, which will soon run into a very large figure. Yours truly,
R. K. LEIGH, M.I.C.E. Hongkong, 27th May 1895.
to agree to this.”
High- I take this opportunity to remind your ness and Excellencies in a general way without referring to any particular affair of the terms the Convention agreed to the 20th February. 1865, between the Tsungli Yamen. and M. Berthemy, Minister of France, and destined to define clearly the conditions under which the