January 27, 1898.]
his advice and encouraging words at the last distribution of prizes.
We find that debating is a good means to make the pupils read, and also to develop their elocutionary powers and give them a taste and desire to continue their studies. The short debate you have just heard is only a reproduc tion of one which took place in the class room in which I students participated.
The system of weekly reports continues to be a great source of emulation and it is gratifying to see that most of the parents. take a great interest in them.
The two prizes for the best essays on The Command of the Sea," and "The Use of the British Navy," so kindly offered by the Hongkong Branch of the Navy League, were also a source of emulation. Nine students wrote on the subjects, and the essays of Master E. Noronha were adjudged to be the best with those of Masters B. Talara and F. X. Ribeiro as good seconds. The two Belilios Scholar. ships continue to be a great benefit to the School, as they serve to keep the pupils longer at their studies.
The pupils continue to take an interest in the military drill and in cricket and football.
A.
In conclusion, we have to tender our sin- cerest thanks to the Hon. E. R.. Bélilios for his two scholarships and other prizes; also to the Navy League and its Honorary Secretary, and to Sir J. W. Carrington, LL.D., C.M.G., Messrs. T. Jackson, G. Romano, D. Noronha, Dr. A. P. Carvalho, B. H. Mody. and the other gentlemen who have so generously contributed towards our prize fund. We also thank Mr. A. W.. Brewin, Inspector of Schools, for having adjudicated the Prize Essays on "The Command of the Sea" and "The Use of the British Navy."
After presenting the prizes Sir JOHN Carr- INGTON addressed the pupils in an encourag- ing tone. He said it gave him great pleasure to again present the prizes at St. Joseph's College and have the opportunity of spek- ing a few words of encouragement to the boys words which he hoped they would carry away with them and which, if observed, might possibly do them good. Sir John then delivered to the boys an instructive address impressing on them the importance of an attentive and painstaking school career to fit them for a successful professional life when their school days were over. He then paid a high tribute to the teaching staff of the College, and urged the boys to do all they could to lighten the task of their teachers by paying the strictest possible attention to their duties. The task of a teacher was a very hard one. He could speak with authority on that point, as he once was the teacher of a class of twenty-five boys. Since then he had changed his vocation, and he must say that, although he loved the boys, he would rather be engaged in hearing Synagogue cases for a whole year than teach that class again. (Laughter). In conclusion Sir John addressed a word of encouragement to those pupils who had not received prizes and hoped they would not be disappointed at their non-success but regard it as an incentive to work with in- creased energy during the ensuing school year.
Father DE MARIA then said As Manager of the school I beg to thank you, Sir John Carrington, for your very great kindness in coming to distribute the prizes to the children. It is the second time you have honoured the school by your presence and as the Brother Director in his report, has pointed out, your first visit was not without profit and advantage to the boys. This further proof of your Honour's interest in the school will be an additional encouragement and stimulus to our pupils, young and old, and is a source of very great gratification to the Brother Director and his assistants. I desire to convey to you their very hearty thanks and acknowledgments. It is also my most pleasing duty to welcome to St. Josephs the Delegate to India of His Holiness Pope Leo XIII, who has honoured the College by his presence to day and to thank him for his very great courtesy in accepting our invitation to be present on this occasion. He will the feet of the soon find himself `at Holy Father and we entreat him to assure His Holiness of our love and devotion towards his person and office. To His Lord- ship our own Bishop our most hearty thanks are clearly due. His zeal in the cause of
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CHINA OVERLAND TRADE REPORT. education and his paternal solicitude for our well-being are ever more and more fully illustrated and displayed. I have also to thank all our good friends and supporters for their presence.
The following is the list of prize winners :— Standard I.-C. de Carvalho, A. da Luz, L. G. Cordeiro, A. Marti, A. Rozario, A. Neves.
Standard IIJ. Rozario, J. Carmo, Lo Pou, C. Franoo. A. I. Xavier, Kwock J. Lum, D. Alonço, M. Larcina.
Standard III.-J.. Gaskell, F. Casademunt, F. Simoes, J. Wohlters, H. Silva, L. Remedios, G. Rozario, A. Gutierrez, N. Botelho, J. Avila, R. Passos.
Standard IV.-C. Afah, C. Remedios, A. Barradas, C. Almarin, J. Yvanovich, G. Victor, J. C. Guterres, L. Fat Choi, A. Manso, J. Victor, P. A. Rozario.
Standard V.-J. Melendreras, G. Remedios, C. Romedios, A. Hahn, H. Tayler, E. Rozario, F. Remedios, A. Botelho, L. C. Xavier, Ng Luck Kee,
Oxford Preliminaries.-H. Costa, H. V. Biard, W. Paley.
Oxford Juniors.-F. X. V. Ribeiro, B. Talara, E.A. Pugh, M. Simoes, L. E. Guterres, M. Hopun, J. C. Logan, F. Silva.
Oxford Seniors.-E. J. Noronha, A.A., J. P. Xavier, C. O'Toole, A.A., I. Franco, ́AA., E. M. Xavier, A.A,
A prize presented by Sir J. W. Carrington, LL.D., C.M.G., for aptitude, diligence and good conduct was awarded to C. L. O'Toole, A.A.
THE INDIAN YARN TRADE.
The following is the reply of Sir George Cotton, President of the Bombay Millowners' Association, to the representation lately made from here by Chinese merchants dealing in Indian yarn for working the mills short hours;-
Forbes Street, Bombay,
3rd January, 1898.
Hung Kee Phow Hhow, President of the meeting of Chinese merchants dealing in Indian Yarn, c/o Messrs. Framjee Hormusjee & Co., Hongkong.
SIR,-I beg to acknowledge receipt of your favours of the 7th and 9th of December, the latter acknowledging receipt of my Committee's telegram in reply to the one received from you. I am circulating your very interesting letter of the 9th amongst the members of the Committee. so that they may fully understand your views of the present position of the trade. Personally
fear that now Bombay mills have to compete with those in China and Japan short time for Bombay mills only would seriously injure our trade as the increased cost of production conse- quent on curtailment of working hours would be a premium to our competitors and tend to an expansion of the number of mills already at work on your side. I am hopeful that low prices will so increase consumption in India that our shipments will be smaller than hitherto and that your stocks will be considerably reduced once the Northern ports are again open
Trusting that the New Year will bring you and all our friends in China prosperity.-I am, sir, yours fery faithfully,
G. COTTON.
THE HONGKONG, CANTON AND MACAO STEAM-BOAT CO., LIMITED.
The following is the report of the board of directors to the ordinary half-yearly meeting of shareholders to be held at the office of the Com- pany, on Saturday next at noon ;—
The directors beg to submit to the share holders the report and statement of accounts for the h..lf-year ending 31st December last.
After paying running expenses, salaries, premia of insurance, repairs, and all other out goings, there remains, including $29,974.01 brought forward from last account, the sum of $133,344.55 at credit of profit and loss account; From this amount, the directors recommend that a dividend for the half-year of 8 per cent. on capital, or $96,000, be paid to shareholders, and that the balance of $37,344.58 be carried forward to new account.
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58
to the average, but the very large increase: în the price of coal has materially reduced the net results.
During the half-year the Heungshan and Powan have been docked for the usual annual repairs and Government survey and all the steamers are in good running order.
The properties mortgaged to the Company have been re-valued by Messrs. Palmer and Turner whose valuations show them to be ample. security for the sums advanced
The retiring auditors, Messrs. A. O'D, Gourdin and F. Henderson, offer themselves for reselection.
E. R. BELILIOS, Chairman. Hongkong, 21st January, 1898.
ASSETS.
31st Dec. 1897. Value of 4 steamers and fths of Fatshan
Do. of 2 steam-launches
Do. of wharves, hulks, moorings, de, Do. of properties at Wuchow and Kongkun Po. of lighters Sun Lee and Wo Les Do of coal, stores and spare geár Do. of furniture......
Do. of shares in public companies. Do of Chinese Bonds Property foreclosed
Loans on mortgage
Short loan on security.
Fixed deposit with the Hongkong & Shang-
hai Banking Corporation
Cash with the Hongkong & Shanghai Bank Remittance to London account insurance
ing Corporation on current account.
premium for 1898 Interest accrued to date Sundry debtors...
LIABILITIES,
Amount of capital, 80,000 shares of $15
each, fully paid-up... Amount of refund of capital of $5 per share
on 10 shares unpaid Amount at credit of depreciation and insur-
ance fund...
Amount of credit of equalization of divinend
fund
Amount at credit of investment fluctuation
account
Unclaimed dividends
0.
812,250,00 50,000.00
27,917 07
7,767.22 15,000.00
18,781.34
750.00
295,427:23
1,034,48
8,000.00
685,700.00
50,000.00
21,844 36
21,544.70
18,580.64
1,104.52
9,687.25
$2,028,388.81 $ 0,
1,200,000.00
- 50.00
600,000.00
9,000.00
14,148.00 9,930.00
Hongkong wharf special account, amount received from Government, to be expended on new wharf
Sundry creditors.
21,844.38 40,070.94
Amount at credit of profit and loss account 133,344.58 $2,028,388.81
$
31st Dec. 1897.
amount paid for repairs
To
PROFIT AND Loss AccoUNT.
Dr.
$10,858.78 84.97
10,943.75- 2,760.00
To steamers
To wharves and lighters....
To directors and auditors' fees To balance to be appropriated, viz. :-
Dividend at 8 per ct. on $1,200,000,$96,000.00 To be carried to new account...... 37,344.58
30th June, 1897, :
31st Dec. 1897:
Cr.
-133,344.58
$147,038.38 $
By amount brought forward from last account 29,974.01 By net earnings of steamers By interest on investments By transfer fees
DEPRECIATION AND INSURANCE FUND 31st Dec. 1897.
Dr. To balance
86,577.37 30,332.45
154.50
$147,038.38
600,000.00
Cr.
............600,000 00 EQUALIZATION OF DIVIDEND FUND, Dr.
$
9,000.00
Gr.
9,000.00
30th June, 1897. By amount at credit
31st Dec. 1897. To balance 30th June, 1897. By amount at credit
$
0.
Mach amusement was created among the Rattler's men quartered at Tientsin, on dis- covering seats thoughtfully provided by the local carpenter in the new sentry boxes. Chinese ideas evidently could not grasp the awful reality of "sentry go" duty without any sit-down pidgi:, and Tomatkins Jacktar, or whatever the professional cognomen of the marine may be, was immensely tickled on dis- covering the evidence of Celestial consideration in his new shelter. If the carpenter had only been consulted in the matter of measurements and pattern, he would probably have suggested, "sposé make littes more long, can makes lie down. More better."-Peking and Tientein
The gross earnings of the steamers during the six months under review have been fully up' Times.
3