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THE HONGKONG WEEKLY PRESS AND
pass, be called upon to pay any tax other than was leviable on oil that had paid likin en route. -I am, sir, your obedient servant,
BYRON BRENAN.
Consul.
THE CHAMBER OF COMMERCE AND THE EXCHANGE QUESTION,
We have received the following minutes and correspondence for publication:
ac-
approaching the Government with the object of devising some means whereby to secure fixity of exchange; inquiring whether this Chamber contemplates taking action in this important matter; and suggesting the possibility of the The Chairman Hongkong General Chamber two Chambers working together, with a view
of Commerce, Hongkong.
to finding some remedy for an admitted evil.
My Committee lost no time in meeting to consider the suggestions of your Chamber. re- cognising as they did the great importance of the question at issue, and fully appreciating the friendly desire shown for mutual tion. I am, however, instructed to point out the very different positions occupied by the two Colonies, which render it impossible, on this occasion, for combined action in the At a special meeting of the General Commit- tee of the Hongkong General Chamber of Com-direction of procuring relief from the instability merce held at noon on Friday, the 3rd Septem- of silver, Situated on the borders of the greatest ber-Present-Messrs. R. M. Gray (Chair- silver using empire in the world. with which man), Herbert Smith (Vice-Chairman), J. J. country its trade is mainly conducted, it would Bell-Irving, T. Jackson, N. A. Siebs, T. H. be wholly impracticable for this colony to Whitehead, and R. C. Wilcox (Secretary) attempt a currency divorce from China, however called to consider what action should be taken much, for some reasons, such a departure might on a letter received from the Singapore Cham-at first sight seem desirable.
I am instructed, therefore, by my Committee ber of Commerce, dated 26th August.
The letter, which stated that the Singapore to inform you that in the present instance they Committee had under consideration the question are unable to comply with your invitation, as whether the Government should be approached they do not see their way to take either in- with the object of devising some meaus of dividual or combiued action in recommending to the Government any change in the existing obtaining fixity of exchange, and whether it might not be possible for the Hongkong Cham-currency here.-I am, dear sir, yours faithfully. ber to work together with them in moving for some remedy for the evils brought on by the very heavy decline in silver, was read.
R. CHATTERTON WILCOX,
Secretary.
Alex. F. Gunn, Esq., Secretary, Singapore
Chamber of Commerce.
PHILIPPINES.
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¡September 9, 1897.
The Government undertake that no modifica- tion of the mining laws to affect this concession adversely shall take place during its existence, and all privileges now granted or that may hereafter be granted to mining industries will be accorded to the Company obtaining this special
concession.
The mines of Uling and Lutac, though ap- parently separate concessions, are to all intents and purposes one and the same, and they can be worked simultaneously, or only one at a time, Uling being the more important, and should it alone be worked at first Latac need not be, unless at the convenience of the Company, but if not begun within ten years of the formation of the Company the delay would involve a can. celation of the concession to that extent.
Should any unforeseen accident in the work- ing of the mines take place, such as to render impossible the production of the minimum quantity required by the contract, namely, one hundred tous per working day, the Government may modify its terms in conformity with the opinion of the inspecting engineer and as may be warranted by circumstances.
The mines of Uling and Lutae were worked successfully some forty or fifty years ago, and from 40,000 to 50,000 tons extracted, but only single individuals being interested, now both dead, and their heirs being unable to continne the working, the concessions reverted to the Government. The quality of the coal, prin- cipally surface, was found to be fairly good for steaming, but quality, as is always the case, improved as the lower seams were reached and was on the average considered fully equal to
The Chairman said it was gratifying that the Singapore Chamber should have consulted them in this matter, as it showed a desire on their COAL MINE CONCESSIONS IN THE Japan lump. part to work in unison with Hongkong, which could not fail in the long run to result in the common good, but the question at issue appeared to him beset by more than ordinary difficulties for them and he feared was impracticable for Hongkong.
The matter was then discussed at some length, and it was decided to reply that, in view of the very differeut positions occupied by the two colonies, Hongkong being situated on the borders of the Chinese Empire, with which its trade is mainly conducted, and whose currency is silver, any change was impracticable, and the Chamber did not therefore contemplate taking any action in recommending to the Govern- ment any change in the existing currency.
(Correspondence.)
'SINGAPORE CHAMBER TO HONGKONG CHAMBER,
Chamber of Commerce, Singapore, 26th August, 1897. Dear Sir, I am instructed by my Committee to inform you that they have at present under consideration the subject of local currency and in connection therewith the question of whether Government should be approached with the object of devising some means of obtaining fixity of exchange.
2. The recent very heavy decline in silver has led to the question being viewed here with even more gravity than in the past, and, as the subject must also be of material interest to Hougkong, my Committee have instructed me to acquaint you that it is now receiving considera- tion at the hands of a Sub-Committee, and I am also directed to enquire if your Chamber contemplates moving in the matter in any way. 3. One object that my Committee has in view ---if the Hongkong Chamber of Commerce con- templates taking action
this important npon matter-is to consider whether it may not be possible for the two Chambers to work together in moving for some remedy, and I shall be glad information that if you will favour me with any may assist in arriving at an opinion on that point. Your faithfully.
ALEX. F. GUNN, Secretary.
R. Chatterton Wilcox, Esq., Secretary, Hong-
kong Chamber of Commerce.
HONGKONG CHAMBER 70 SINGAPORE CHAMBER,
Hongkong General Chamber of Commerca,
Hongkong, 4th September, 1897. Dear Sir, I have to acknowledge receipt of your letter of the 26th ult. stating that your Committee have under consideration the sub- fect of local currency and the advisability of
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The coal beds in the island of Cebn known as the Uling and Lutac mines will be offered by the Philippine Government at public auction on the 22nd January, 1898, under a special con- cession for 99 years, upon terms which must be considered favourable and which are published in the Gureta de Manila of 22nd July, 1897. We translate the principal conditions laid down as follows:-
The Company bidding must have a minimum capital of $350,000, of which at least two-thirds shall be paid up, and it is required to make a guarantee deposit with Government of 2 per cent., say $7,000, the basis of production being a minimum of 35,000 tous a year, of which Go- vernment requires one half at a reduction upon the current market price of the day of delivery of similar coal, the extent of this reduction forming the basis of sale, for instance, 15 cents a ton off market price will be preferred to 10 cents reduction, aud so on.
The Company shall pay the Government 15 touts of a dollar per tou on all coal extracted, co defray expenses of periodical inspection of the mines, the Company being at liberty to provide its own skilled and unskilled labour for working the mines and railway without any official in- tervention, or interference by the anthorities, beyond the usual police service for the preserva-
tion of order.
A railway six to eight miles in length will have to be built from the mines to the port of Tinaan, on the east coast of Cebn, where a jetty will be put up for vessels to load at Plans of the mines can be seen at the Public Works Office in Manila, but admitting of any modifica. tion or extension the Company may think fit or desirable in harmony with the opinion of the inspecting engineer.
The railway and jetty concession requires the guarantee deposit to be increased to $17,500, the whole being returnable upon completion of the work, say $10.500 when the railway and jetty are finished and balance in annual ments in proportion to the development of the miues reported by the inspecting engineer.
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The Company must have a branch registered at Manila to confer with, and in case of the Government being at any time involved in war and requiring the whole of the coal output they are to have the preference ou terms of contract. All material for railway, mining machinery, etc., will be admitted into the country free of Customs duties, and work on the railway, jetty, and on the mines must be commenced within six months of the concession being confirmed, and concluded within three years from the date of commencement, under pain of annulment of the concession.
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The Philippines are full of bituminous coal, and concessions on even better terms than the mines above named can be had. The Govern. ment, being anxious to attract capitalists to work coal and other mines, will give every possible facility and protection to such in- dustries, admitting all kinds of machinery free of duty and inviting all labour, skilled and un- skilled, from the outside world that may be neces sary for such work. Samples of Philippine coal can now be seen in Hongkong, we understand, and we hear that a small cargo will be sent over here shortly to introduce it to consumers. will take some little time to get mines in work- ing order for large supplies, but looking at the present prices being paid for Japan and other qualities there should be a certain market for all the Philippines can produce, and at an ex- change that gives fully eleven dollars to the pound sterling, English capital will certainly be attracted to this hitherto unexplored bat Incrative field.
It
There has been a certain prejudice against - surrounding foreign countries as fields of enter- prise, a good deal of it arising from non-ac- their laws and customs, quaintance with and partly from a now happily obsolete dog-in-the-mauger policy ruling twenty-five or thirty years ago; and while we would recom- mend a closer acquaintance with their habits aud customs, not so their laws, which in them- selves may be excellent, though badly ad- ministered, but not to be played with. The rule would seem to apply elsewhere well, if what is reported be true of a legal magnate, not a hundred miles from Temple Bar. lately gone over to the majority, who bequeathed the best part of half a million to a well known establishment at Colney Hatch, his the most proper will reading that this was disposition of his large fortune, made out of lunatics, that he should leave to them what bad once been their own.'
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The N. C. Daily News of the 28th Angust says:-The crematorinm at the new cemetery has been tested 'very frequently in order to ascertain if it works properly, with satisfactory The bodies of bullocks have been results. passed through the furnace with the result that, the specified time, there remained within nothing of the carcase of a bullock but a large handful of ashes. These tests having proved that the crematorium was capable of properly performing the work for which it was erected, it was actually made use of for cremating a human body on Thursday last, the ceremony occupying a little over an hour. The result proved that the crematorium is in thoroughly reliable order,