June 17, 1897.).
watter up. The more closely the circumstances of the case are considered, the more grave does the scandal appear, from the time that Miss Jacob was arrested to the tardy withdrawal of the charge against her, and from the false telegram wired home announcing that she had confessed, to the placing in her cell of a book quoted in the "Annie Luke" letters. I hold, and I think the majority of my readers will agree with me, that these facts form one of the gravest scandalseverassociated with the adminis- tration of British justice, and it is monstrous that any attempt should be made to hush them up in deference to a flabby public opinion.
THE NIPPON YUSEN KAISHA.
GENERAL MEETING OF SHAREHOLDERS.
A general meeting of shareholders of the Nippon Yusen Kaisha was held in Tokyo on the 27th May. Some 2,075 shareholders, repre- senting 303,007 shares, were present. Mr. Kondo, the President of the Company, took the chair and presented the half-yearly Report and Accounts ending on the 31st of March, 1897, which were taken as read without objection. The résumé of the report is as follow:-
CHINA OVERLAND TRADE REPORT.
For offices.
Cargo Passengers For ships:
BALANCE SHEET,
Wages and pilotage Coal
Dues and fees
Charter of vessels
For sundry losses
· EXPENDITURE.
Interest of Company's debta
F
tralian service was opened in the beginning of the present season under 'special direction of the Minister of Communications. Fairly large For cargo and passengers --- oargoes could be secured by outgoing steamers but a very small quantity by homeward bound vessels despite the fact that the number of pas sengers has been increasing in both instances. As new steamers are wanted for this line three vessels of about 3,500 tons gross each have already been ordered. Although the steamers of this line were to ply between Yokohama and Adelaide it has been decided to make Mel. bourne the terminus for the present according to the condition of business, and the subsidy will be received for that distance. Over a year has passed since the Bombay line was opened during which considerable loss and difficulties were experienced. The vessels of this line are now, however, run under the direction of the Minister of Communications and therefore the finance for this service has been placed on a some- what firmer footing. The Formosan line was also run during this season under orders from the War Office. The Company has been ordered by the Colonial. Department to run a steamer twice a month between Kobe, Moji and last. The total number of steamers possessed Kelang, for one year commencing on 1st April by the Company at the beginning of this period was 54 and their aggregate gross tonnage was about 96,965.
Since then the newly-built Kanagawa-mary and nine other vessels, bought from the Government, were added, making the. total number of vessels at the end of this period 63 and their aggregate gross tonnage 130,412.
During the half year ending March 31st the despatch of cargoes was not so brisk in the Ja- panese and Eastern ports as was usual at this period of the year. In Etchin and other locali- ties, for instance, no despatch of extra cargo Although as a whole the period, under review vessels was needed owing to the unfavourable yield covers a time when the shipping business was of rice there, and the consequent decrease of ex- not generally brisk a good result has been ports. Again the exports and imports to and from obtained compared with preceeding years. The Osaka and Kobe were stopped for a time owing to Company has, however, incurred a loss of yen the occurrence of floods and the temporary col-163,326 as a big sum of about yen 680,000 had lapse of financial circles there last antumu. In to be deducted from the profit account as Kinshin and Corea rice crops turned out very reserve fund. This is required on account of well and as there were large exports the Company the losses incurred by the European and was able to despatch a number of extra cargo American lines, necessary preparations for the vessels to Misumi, Wakamatsu, Fusan, Chemul- extension of business, repairs to vessels employed po and Gensan.. As a whole the season under during the late war, additional expenses review was not unfavourable as compared with necessary owing to the rise of prices of com. causes. These causes the same period of past years but the rate of modities and other freight was steadily falling while coal and other detrimental to the interests of the Company necessaries and stevedoring charges had con- would gradually be removed now that the siderably risen. In consequence of this the re- necessary repairs to vessels have nearly been ceipts did not sufficiently cover the expenditure completed and the freight has somewhat im- at one period. Only at the time when the new proved. However, the difficulties accompany- rice began to be exported the demand for ing the foreign services could in no way be got vessels increased and the Company was at rid of so soon. In any big undertaking it is last able to raise freight by 10 to 20 per cent. quite common that a large outlay is required It was found, however, that the proportion of at the outset and the profits arising therefrom the rise of commodities was still comparatively could only be reaped after a year to two at the higher than that of freight. With respect to earliest. Sometime ago when the opening of the European and American lines the credit foreign service was discussed at a general meeting of the Company was daily growing and no of shareholders it was pointed ont that we were scarcity of cargoes was felt. As for the Eu- to be prepared to meet with loss and difficulties ropean line the Company had in January last at the beginning. The present condition of entered into an alliance with the foreign Com-affairs cannot therefore be regarded as having panies navigating between the ports in the sprang up suddenly. There is now established Straits Settlements and Europe whereby a law for encouraging navigation to foreign the rate of freight between Singapore and countries but the Company has thus far able to Colombo and Europe which had greatly get a licese only for the Kinshiu-maru during 'fallen was somewhat recovered. The Great the period. There are many vessels which are Northern Railway Co., our agents, have been qualified to fulfill the provisions of the Law. making all possible endeavours on our behalf All the new vessels which are now being built for the success of our American service. In and will be completed within this year will also addition to this, this line has now been ex- be able to receive subsidies. When all those have tended to Hongkong as was first planned and received subsides the position of the Company as convenience and facilities were increased for will be improved. But this and one or two suc- the shippers of cargo as well as passengers, full cessive periods will be the hardest time. We must cargoes could be secured on each return voyage overcome the difficulties we are now experiencing from that port. The prospect is rather pro- with unflinching perseverance. This will not mising when we take into account the short be long, however, as we could obtain subsidies so duration of time since the line to that port was soon as the new vessels are completed. In opened. Although both the European and Europe we find no precedent for granting American lines are working smoothly the rates subsidies to a regular line of steamers, but as of freights are always low and the income does our European and American lines are necessary not fully cover the ontlay since there are too for the public interests of our country, sub- many competitors on these lines. Further sides should be granted for a reasonable more the expense for these lines is very great. number of years, The Company made applica- For example, it requires the payment of dues tions to the Government to this effect with amounting to yen 25,000 for the Tosa-maru the expectation to receive this favour after to pass the Suez Canal outward and home. April last. The Government, recognizing the ward. No fewer than yen 130,000 were paid necessity of granting such a subsidy, in- for passing the Canal during the period troduced a bill in the last session of the Diet. In fact, under the circum. To our great regret, however, it was not stances above stated, both the European and passed, the Diet having been prorogued before American services cannot by any meaus be it was discussed. The Company is, neverthe exempt from loss at each trip. As was reported less, prepared to push the matter forward so as at the previous half yearly meeting the Aus. I to attain the object in view.
under review.
For deduction for depreciation.... For reserve for insurance For reserve for repairs
From freight and passage:~
Freight.. Passage
475
yen. 491,131.00
1,094,185.00
48,989.00
518,449.00
(705,264.00
Necessary articles
270,955.00
Provisions for passengers and crew.
286,250.00
187,577.00
Repairs......
100,629.00
Miscellaneous
67,863.00
456,098,00
4,420.00 63,400.00
4,285,228.00
261,011,00
271,212.00
160,022,00
683,147.00
Total
REOBIPTS.
4,698,875.00
yen. 3,068,905.00
599,917.00
139,393.00
1,702.00
113,059.00
52,645.00
171,431.00
217,993.00
4,365,048.00
440,000.00
163,826,00
4,968,375.00
yen.
190,538.00
427,561.00
168,175.00
780,257.00
163,326.00
9,669.00
6,700.00
605,000.00
2,561.00
*786,257.00
From rent of ships From Boating bridges
From balance of interest
From exchange [of cargo ?] From vavigation bounties
From miscellaneous revenues
From Government subsidy From net loss
Total DIVIDEND OF PROFIT.
Brought forward from last account.
Reserve for dividends
Other revenues
This sum is disposed of as follows:- To loss during the season To depreciation of buildings To directors' fees...
To dividends (10 per cent. per annum) Carried forward to next account
Total
HONGKONG.
Nothing but the Diamond Jubilee is being talked about in the colony at the present time The many arrangements for the celebrations have been eagerly read by the public and the various mercantile houses are well forward with their preparations for gorgeous illuminations, which will be on a most extensive scale. Only the weather can be fickle.
Her Majesty's proclamation of neutrality on the occasion of the war between Turkey and Greece is. published in the Gazette.
Messrs. John D. Humphreys & Son have offered $2,000 towards the support of the Kow- loon School as their contribution to the Diamond Jubilee.
The Government Analyst's report on the Kowloon water supply, dated 19th May, states that "The results show that the water is of excellent quality."
It is notified that H.E. the Governor has given his assent, in the name and on behalf of the Queen, to the Latrine Ordinance and the Protection of Women and Girls Ordinance.✨
At the Magistracy on the 11th inst. a servant boy was sent to goal for six months for stealing two clocks the property of his master, Mr. Richardson, assistant to Messrs. Gordon & Co. It is notified in the Gazette that in celebra-
:
tion of the completion of the sixtieth year of Her Majesty's reign the different public offices are to be closed on Tuesday and Wednesday, 22nd and 23rd June.
The two companies of Garrison Artillery here (12th Co. S.D. and 35th Co, S.D.) go to Singa- pore in October, and the Singapore companies (25th Company S.D., and 38th Company S.D.) will relieve them here.
Mr. A. G. Wise, Puisne Judge, injured his knee a few days ago while playing golf and was unable to attend to his duties at the Supreme Court. On 11th inst. the summary cases were taken by Sir John Carrington, Chief Justice. Mr. Wise was able to resulne his work at the court on Monday.