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March 19, 1898.J
clause in the Treaty permitting Chinese to take shares in Companies, that they (having taken shares) are free from consequent liability, is misleading and mischievous. It might as well be argued that as the Treaty does not make specific reference to any particular class of claim or dispute the clause is inoperative and mere waste paper; and even confining the late Taoti's so-called argument to Companies only, the converse might apply, and Chinese, having invested in Companies, might reasonably be debarred from profits, and possibly deprived of capital!
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· CHINA OVERLAND TRADE REPORT.
direction of the Tsung-li Yamên the regula- tions for the new mode of inland transit were drawn up by Sir Robert Hart, and in a form entirely meeting the wishes of the German Minister, to whom great credit and thanks are due for baving opened a new road, for fair trade.-Peking and Tientsin Times.
DESTRUCTIVE FIRE AT KOBE.
On the morning of the 3rd inst. a destructive fire occurred at the Pier company's sheds at Kobe. The Chronicle of that date published an account of the outbreak, but the fire was still burning when the paper went to press. In its issue of the 8th our contemporary says:-
The Committee of the Chamber are strongly of opinion that this official utterance of the late Tantai should have at once been officially repudiated, and I shall be obliged by your in- forming me whether this was done, and, if not, whether you and your colleagues are now pre- pared to convey the necessary correction to the present Taotai in order that all misapprehen- sion may be removed from the official mind in this locality. I have the bonour to be, Sir,lion for cotton only. your obedient servant,
E. F. ALFORD, Chairman. Dr. O. Stuebel, Consul-General for Germany
and Senior Consul, Shanghai.
Shanghai, 26th February, 1898. Sir, I have the honour to acknowledge receipt of your letter of the 28th of January last relative to the liability of native share- holders in a foreign company.
This letter was discussed in a recent meeting of the Consular Body when it was decided that, the matter having once been referred to the Diplomatic Body at Peking, the Consular Body could only abide by the views held by the Foreign Ministers as expressed in Colonel Denby's letter of the 8th of December last.- I have the honour to be, Sir, your obedient servant,
O. STUEBEL, Consul-General for Germany and Senior Consul.
E. F. Alford, Esq.,
Chairman, Shanghai General Chamber of Commerce.
RUSSIA AND KOREA.
Our estimate yesterday of the damage done by the fire in the Pier Company's sheds-which is the most disastrous conflagration which has ever occurred in the history of Kobe-was a very conservative one. Instead of 100,000 yen damage, the estimate will be nearer half a mil-
According to a notice issued to consignees by the Pier Company, the fire involved cargo brought by the following steamers P. &. O. steamers Shanghai, Borneo, Rosetta, Japan and Rohilla; the M.M. steamers Sydney, Natal and Océanien; N.Y.K, steamer Idzumi-maru; N.P. steamer Braemar; Aust--Lloyd's Maria Valerie; the Carmarthenshire and the Langbank.
Over 14,000 bales of cotton-princially Bom- bay-were brought by these steamers, and only a very small proportion of it had been removed by the consignees. The cotton brought by the Idzumi, the Maria Valerie, and the Braemar has suffered most. The insurance risks on this amount of cargo represent of course a very big figure. It is impossible to say to whom the bales partially destroyed belong, as the marks have been burnt off. The object, we believe, of the meeting of representatives of marine and fire insurance offices interested in any way con. vened for this afternoon, is to consider what
under the circumstances is to be done.
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The area covered by the fire was 1,420 tsubo, and altogether twelve buildings were demolished. These were insured by the Pier Company for nearly 20,000 yen it is said, the risk being the Nippon Fire Insurance Company's. Besides the cotton destroyed (believed to be about 10,000
RUSSIA OFFERS TO REMOVE ALEXIEFF AND bales) there were also in the sheds over 60
HER MILITARY INSTRUCTORS.
KOREA GLADLY ACCEPTS.
bundles of cowhides, a quantity of cement, muriatic potash, paint, rattan, tea, matting, paper, mirrors, steel, iron, zinc, rice, and some other goods. Altogether, the loss is estimated
The Shanghai Mercury publishes the following at 1,000,000 yen. special telegram
Seoul, 12th March. Russia, through her Minister, made the Emperor of Korea an offer to remove Mr. Alexieff and all her military instructors, and demanded an immediate answer. The Korean Government gladly accepted her offer, and upon it becoming known, there was a popular demonstration. Koreans, Japanese, and others are highly pleased.
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EXTENSION OF THE TRANSIT PASS TRADE.
In spite of the trouble and work arising from the murdering of the two German missionaries in the Tsao-chow district, and from the Kyao Chao affair, H.E. the German Minister bas found time to occupy himself with, and to arrange another matter which will prove of the greatest importance not only to the Germans, but to all the foreign merchants in China. Hitherto, inland-passes that is to say, passes under cover of which all imports, on paying an extra half duty, can be taken to any place in the interior free of likin-were valid only on the condition that the goods described on the pass were actually taken to the place of destination given on the pass and there disposed of. The goods were not allowed to be sold on their way to destination, 2.6., in transit. But Baron von Heyking has persuaded the Tsung-li Yamen to alter this regulation and in future imported goods will be allowed sale in transit. Only some trifling formalities have to be gone through, in order to safeguard fiscal interests, otherwise there are no longer any restrictions, and mer- chants will thus be able to take advantage of every favourable opportunity of selling their goods on the way. We may add that by the
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be paid the directors' and auditors' fees amount ing to $4,114.28, leaving only $7,643.26 at the credit of profit' and loss; in consequence the di- rectors regret they cannot recommend that any further dividend should be paid out of the year's profits, but that the balance should be carried forward to 1898.
RAILWAY I'ROJECTS.
It is reported from Wuohang that when the Viceroy Chang learned that Dr. Yung Wing had memorialised the Throne, through the Toungli Yamen, asking for permission to con- struct a railway between Chinkiang and Tien- tsin, the former, in conjunction with HE Shêng. Hüanhuai, at once telegraphed the Tsungli Yamên to delay the new road until the Hankow-Peking Railway was well on its way to completion, giving the plea that China was too straitened financially to build two great railway lines at the same time. The Tsungli Yamên has, however, recently replied that sa Dr. Yung Wing's scheme had already received the approval of the Emperor, the Chinkiang- Tientsin Railway must be constructed as soon as possible, as well as the Hankow-Peking Road.
-N. C. Daily News.
CANTON NOTES.
|FROM THE “CHUNG NGÔI SAN PO.”. The Chinese Government, on the suggestion of a censor named Wong Shi-wing, are about to issue 1,000,000 promissory notes of 100 taels each bearing interest at the rate of five per The interest is to be paid once every year cent. per annum, repayable in twenty years. during the first ten years, and the interest together with a tenth part of the principal is to be paid once a year during the last ten years, so that the loan will be paid off in the twentieth year. People who hold the promissory notes are allowed to sell the same to others. A tenth part of the promissory notes can also be used in each
of the last ten years to pay revenue. The promissory notes are to be taken up within two months. The Canton Government is now busily engaged in advising the wealthy Chinese to apply for them.
Owing to no fresh supplies coming in and to smuggling to foreign countries the prices of daily consumption of the people can hardly be rice in Canton are exceedingly high, and the met. A dollar can only buy eighteen catties of inferior quality; this being the highest price rice has touched during the last half century. On the 12th instant the Sansz and the seventy- two guilds went together to see the Viceroy and the Governor, asking them to strictly pro
As to the origin of the fire, nothing defiuite is known. The conjectures include (1) that it was caused by tobacco ash; (2) a defect in the electric lighting arrangements; and (3) inhibit the export of rice and to allow the import of rice from other places free of all duties. cendiarism. At ten o'clock and again at eleven
Their Excellencies have granted the request the policeman on duty there went over the Many rice shops which are known to smuggle compound and noticed no indication of a fire. rice to foreign conntries have been destroyed About twelve a watchman also went his beat, by the people, who robbed all their contents. and about half an hour later two watchmen who had been sleeping in the watchhouse and were about to go on duty noticed fire in one of the sheds and immediately gave the alarm. There were powerful are lights in the sheds and the conflagration is stated to have been spread by the electric light wires.
SHANGHAI AND HONGKEW WHARF CO,
है
The report and accounts for 1897 of the Shanghai and Hongkew Wharf Company show that the available balance, after paying the interim dividend of Tls. 3 per share, is Tls. 111,637, and it is proposed to pay a final divi- dend of Tls. 5 per share, place Tis. 20,000 to repairs, and carry sorward Tls. 16,137,20,
1HE TAKU TUG AND LIGHTER CO., LIMITED.
From the report of the Taku Tug and Lighter Co., Limited, for the year ended 31st December it appears that the net result of the Company's working shows a credit balance of $111,902.63 This enabled the directors to pay the shareholders a dividend of 7 per cent., in July last, absorbing $43,000, and after providing for general ex- penses, &c., and carrying $52,631.56 to deprecia tion account, there is a balance of $12,367.54. Out of this available balance there falls to
As robberies and thefts are daily reported in Canton, the sansz have asked the local magis. trates to be allowed to hire lukongs at the ex- pense of the kaifong people. Their request has
J been granted.
It is said that the kaifong people will not allow cracker shops to be opened again in the locality where the late disastrous fire broke out, for two disastrous fires have recently occurred in the same neighbourhood and both broke out in cracker shops. It is very doubtful, however, whether the kaifong will be able to carry out their wish, for most of the shops in that locality were cracker shops and had been opened for a long time.
MACAO,
[FROM OUR CORRESPONDENT,
Macao, 11th March. The E. and A. steamer Airlie arrived here from Hongkong on Wednesday morning, in. tending only to stay an hour or two to take on board cargo and passengers for Timor. The weather was fine in the early morning, but after ten o'clock a heavy squall came from the North and lasted till late at mg so that the launches and cargo-boats con not get near the steamer, and had to ru for shelter where they found it convenient. Some people who had gone on board to bid good- bye to departing passengers could not get back