120
treatment. 12 tons were treated during the two months having an assay value before treat- ment of 3 dwts. 20 grs. gold per ton. Of this 55.1 per cent. was recovered, being 44.25 ozs. bullion of a value of £1.138. per oz.
GENERALA
Water Power-This has been ample for our
needs.
Rainfall --9.68 inches during the month. Health. This has been fair, generally. Roads and Bridges. During the month a first class wooden bridge was completed over the Jalis river; and a cart road from Bukit Sarong in the Northern part of our territory to Batu Burong on the Jelai River, about 44 miles in length, was completed.
The Secretary of the Punjom Mining Co., Limited, advises us that he has received the following telegram giving the result of the January clean up: The mill ran 28 days crushing 2,400 tons yielding 205 ozs. of smelted gold."
RECONSTRUCTION OF THE TAN JÙNG P.AGR DOCK CO., LIMITED.
cause no
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[February 11, 1899.
ORRESPONDENCE-
We do not hold
opinions exprem
DANGERS TU NAVIGATION ON THE WEST RIVER
beer
TO THE EDITOR OF THE “DAILY PRE
Sir.... It is now over liver was thrown open to nothing has been done dangers to navigation which waterway and its ontlets: Were no 'lected from shipping other than thos the goods carried there might be some for the negligence exhibited, or if necessary would entail great expense, perhaps be advanced as a reason |†them in hand, but neither of thes
be pleaded. Tonnage dues, ha foreign and native steam craft and sailing craft since the opening of it would be no exaggeration to say that cents of those dues have been devoted ing the many dangerous reaches which exist, especially above Takhing, safe to navigation. A few spar boncons out the crossings and some of the moru dar ous sunken rooks would cost little and tion, of the tonnage dues collected, ample to not only do this but to provid for lights and buoys where required. \}}}
The policy exhibited here is in accordance with that followed elsewhere, viz., to collect as much revenue as possible as tonnage dues and to expend as little as possible on the purpose for which it is ostensibly føyled. In any civilized country a lighthouse would long ago have been erected on such a position as Capanimoon, show. ing both up the Lantao Channel and in the direction of Hongkong, with, a small light the little islet on the Hongkong end of it w all vessels approaching from Hongkong to round up into the Capsuimoon Pau small light might well be placed on the end of Capenimoon Island to light to the pass to the north of it and some of the traffle that way and k ger of collision in those narrows frequented channels. At least one run sahore here and one or two calla occurred in the pass, fortunately, without fatal result, but such amity cannot alv from" serious
acted. The tocnare dues levied frequenting the port of Canton for the cost of whe hts years have left » Yory jurge amount general revenue.
THE HONGKONG WEEKLY PRESS AND
during the whole of the summer months and even part of the Fall-entailing thereby à loss of interest much larger than would otherwise have been the case. Third, and lastly, Cot- ton advanced continuously from Tis, 15 in January last to 17.50 in August, receding | again with the arrival of the new crop
Tls. 124 in September; whereas Cotton yarn- declined from the top price of Tls. 70 for No 10 to Tls. 59 for the same spinning. Now, gentlemen, you will all be aware that a manu facturing concern of such magnitude cannot afford to cease production at all auctuations of the raw material and if there occurs a stoppage in the sale of the produce, as bas taken place during the past year, there is scarcely anything else to be done but to stand by the loss. With these facts before you and taking, especially into consideration the depreciation in Yarns, which I have mentioned, it would be surprising indeed if we had not made a loss, and much as 1 regret it, I am of opinion, that all things considered the result is not by any means disheartening. In fact as far as the working of the mill is conerned, we are not without some redeeming features to report. When we met in January last I informed the meeting that we had 35,000 spindles at work and were Those shareholders of the Hongkong and then producing 60 bales per day. At the Whampoa Dock Co. who have from time to present moment we have 39,312 spindles run- time agitated for the sub-division of the shares ning and we are turning out-actually ready of that prosperons concern may be interested for delivery-90 bales per day. The cost of in the particulars of a scheme of reconstruc- labour we have been able to reduce gradually tion just decided upon by the Tanjong Pagar by about 15 per cent, and we are continuing to Dock Co., Singapore. The Company was make headway in that direction <na Well as first registered in 1864 with a capital of reducing the amount of waste accordingly as $50,000. This has been from time to time the workpeople become more skilful. It may increased and now stands at $1,500,000, be- please you to learn that our chops are amongst sides which there are debentures outstanding the best liked and are held in high repute by amounting to $614,500. The $100 shares are
consumers. Times like those we have just gone now quoted at from $145 to $450. The assets through will probably not be experienced of the Company have largely appreciated aud again very often and anyhow we are now it has now been derided bring up the capit-on a basis of prices of which it may be al of the Company to a figure more nearly a-sumed that they are sufficiently low to corresponding to the real value. Resolutions
further anxiety. The present were accordingly passed at a meeting held on ralues of yarns as compared with the cost of the 28th January authorising the reconst uc-cotton are leaving a fair margin for profit. tion of the Company, the new Company to Speaking generally about the prospects of have a capital of $3,006,0 9 divided into 30,000 cotton spinning in China, 1 may say that the shares of $100 each, each shareholder in the reverses which the local mills have all anffered present company receiving two new share, for
more or less are perhaps after all not entirely one old one.
to be regretted because if the contrary had happened no doubt the profits realised would THE SOY CHEE COTTON MANUFAC- | have called into life a large number of similar
TULING COMPANY, FIMITED, concerns for which the country is not yet pre pared and the evil day would only have been The fourth ordinary general meeting of share delayed to fall upon ne with still greater: force, holders in the above Company was held at the As it is, the e nsumption of local yarns is only offices of the General Manag rs; Messrs. Aru- just now in a fair way to find a wider market, hold, Karberg & Co., Shanghai, on the 3 at which will increase considerably as the Chinese January. Mr. G. Galles presided and there learu to appreciate the superiority of the were also present Mr. E. Karbe (Vice-chair-home-spun article over many others and, in From time immemorial mah), Mr. C: Brüdersen, Woo Saw-chin, and
course of time may become unlimited when darrers in the upper river have been Woo Chin-ful (Directors), Mr. Phillip Arnhold better facilities for carrying on the goods the local fishermen by bamboos stuck (general manager), Mr. H. Jehmann (sub-mau- towards the interior will be established. One bed of the river as near the danger as
ger), Mr. J. Nölting. Mr. A. W. Dauforth, of the features which is not to be lost sight offi.e. as near rock as a soft patch, Mr. W Grage, Mr. Lamond, Mr. A. C. Ram-is the fluctuation of exchange, as the ring that the thrusting down of a bamboo, pan dor.
and Baron Schnitzler from the German has taken place during the latter part of 1898 Consulate-General, representing 1,65 shares.
is certainly in a great measure accountable for The Chairman in opening the proceedings the overstocking of the market with produce said-Gentlemen, the report has been in your from our India and Japanese competitors. In hands for some time and, with your kind per concluding I have merely to say that our stock mission. I will take it as read. As you will of yarr on the 31st of December has been have seen from the figures, we have to deplore valued at a safe figure and that our production the loss of Tis. 18,337.61 on the past year's has been fully sold. Before proposing working. The causes which have led to this adoption of the report and accounts 1 shall be regrettable result are manifold. In the first pleased to answer any questions you may wish instance we had to stop the mill for about | to ask. three weeks cousecatively on account of wilful damage done to our machinery, for the same reason having to interrupt work on about 20 occasions for several hours and sometimes for half-a-day or half-a-night-this occurring in the best season of the year for the sale of the yarn.
We had to keep the hands on half even during the time of the entire stoppage in order to prevent them going else where, and the cost in this respect aloue-not taking into account loss of market and interest
--has been considerable
As an illustration I will mention that curtailment of production may be estimated at about 2,000 bales, which at the period might be computed to have re- alised a profit of at least Tls. 5 per bale. In the second instance the market-besides being glutted by heavy shipments from India and Japan was in such an unsatisfactory condition, generally, that sales were well-nigh impossible
wayes
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No questions being asked,
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of
In the Licheng (Dosing), reach, done by lepers, each bamboo har boat attending it.: 'The lepere passing craft, the payment in case3 usually being twenty och tied on to sticks of firewood and thrown to the boat. “The fishermen in other reaches collect their fees þy same other method, probably a lesy akaoling ports on the river. This primitive; marking out the dangers is still two years after the river is opened navigation. Of course the bamboos indication as to on which hand The Chairman moved and Mr. Brodersen let when ascending and descendi seconded the adoption of the report and acor whether it is safe to pass o
side of them; In (eivilized cou counts which was carried unanimously.
are placed over a danger, and ⠀ colours to indicate whether it the port hand, or starboard hand, to pass it, optionally; either
Ar an illustration of the it may be mentioned that a below Wuchow at inclies of water in the is not more than being merged
Mr. Nölting proposed and Mr. Lamond se conded the re-election of the retiring directors, Woo Saw-chin and Woo Chin-fuh, which was also agreed to.
The appointment of Mr. Brodersen to on the directorate to fill the vacancy caused by the death of Mr. Koch was 'confirmed, on the motion of Mr. Arnhold seconded by Mr. E. Karbe.
Mr. Galles proposed and Mr. Danforth- conded the re-appointment of the auditor, which was agreed to
The Chairman thanked the shareholders for their presence and the meeting terminated – N. C. Daily News..
miles to follow
be left Hit in