August 19, 1899.)
Valns of land and buildings as per last re-
port
Marine lot No. 5, and
remaining portion
of marine lot No.8 $412,628.04
Less amount written
ou, being propor-
tion of premium on
„now imue of shares 40,477.44
-872,045.60
Remaining portion
of marine lot No. 7 408,157.26
Less amount written
off, being propor-
tion of premium on
Dow issue of shares 40;049.06
· Praya reclamation..............
-868,108.20 22,481.02
Value of furniture and fixtures as per last
report
103,440.88
Less written off, as recom-
mended in last report
8,440.88
Since added
95,000.00 20,289.99
650 Hongkong Hotel Company's mortgage
debentures at $500 each
$762,584.82
115,239.99
--Shares in public companies
275,000.00
7,033.81
Stook of wines, &a., provisions, household
sandries, coal, and stationery
Steam launch
27,825.06 2,000.00
Licences attaching to six months ending 31st
December, 1899
Fire insurance attaching to six months end-
ing 81st December, 1899
861.50
1,098.98
Accounts receivable
22,636.78
Hongkong & Shanghai Banking Corporation
12,808.23
Hongkong & Shanghai Banking Corporation
No. 2 account
Cash in hand
New steam launch (instalments paid to date)
$1,286,260.68
The members of the meeting accordingly formed themselves into such a Society to be called "The Society for the Protection of Game and other Wild Birds in China."
The following resolution was adopted-That in view of the pressing necessity for st pping the wholesale slaughter of pheasants for the sake of their skins at present going on the Committee are hereby empowered and instructed to take up the matter by every means in its power with the object of an absolute prohibition being put upon the export of phensant skins.
;to
CHINA OVERLAND TRADE REPORT. PROTECTION OF GAME IN CHINA, is to put foreigners and Japanese on exactly the same footing as regards both import and At a meeting held at Shanghai on the 4th exports, and to allow no discrimination in, August it was resolved. That in view of the of either one or the other, but here whil great and wanton destruction of game and othering the letter of the Treaty, the general, tenor wild birds in and out of season now taking place and spirit is entirely cast aside, land *>1 in China, which must shortly end in their prac-things inaugurated, which, under. tical extinction, and which therefore not only stances of the case, amounts to a very threatens to deprive a very large number of discrimination against the foreigner persons of the pleasure to be derived from the favour of themselves. Moreover, legitimate pursuit of game but also to ent off an there are no sailings direct from Form important portion of our food supply, it is de. | America-which is far and away the largest sirable to form a society to afford them such consumer of Formosa Ooloongs but, only viá protection as is possible."
Amoy and Japan, and as all shipments from Formosa to America must, therefore, go either to Japan or Amoy for transhipment, the effect of this law discriminating in favour of the route to Japan is to place shippers via Amoy at a The following twenty-five gentlemen were positive disadvantage in the markets of America constituted the committee:-E. O. Arbuthnot, as against shippers via Japan, and as such is Count de Bezaure, J. O. P. Bland, C. M. Dyce, not only unfair in our opinion, but arbitrary in C. M. Ede, J. Ward Hall. E. A. ilewett, Cecil | the extreme. The tea trade of the island has been Holliday, J. G. Kladt, N. Laptew. W. D. Little, built up in the past with ospital introduced from A. P. MacEwen, F. J. Maitland, W., Murray, Amoy, and Amoy houses have large interests J. E. Pisko. L. Rocher, C. Rudolph, W. here and are amongst the principal purcha Scharff, A. Shewad. F. W. Stvan C. F. Timm,sers and shippers of the crop, so that liscrim- J. Toshe, H. T. Wade, P. L. Warren, and H. iuation against Amoy is the last thing one Wortmann
would expect from the Government, especially when one considers that trade was in full swing and well established long before the Japanese came to the island We must say it seems to as a mistake, and, whatever may be their legal rights on the subject looking at the mere fatter of the Treaties, we cannot but think they are unwise in making any discrimination at all. Furthermore, as a matter of policy, and in their own interests, it seems to us very short sighted. Shipments to America during past year have been so heavy that at the present mo ment the stock of Ooloongs in that country amounts to quite eighteen months supply, at the average rate of consumption for all América, We do not believe that arms and ammuni- and the trade there is practically at a standstill tion are chiefly absorbed by pirates and banditti.except for account of direct consumers, vớ that Every fishing boat and trading boat carries it becomes imperatively necessary, in the inte arms, and all the important towns and villages rests of the island, to encourage new coutleta 9,840.50 have their municipal police, who are armed at wherever they can be found, if production is not the cost of the inhabitants, and during the to be curtailed. Is this the way to encourage the harvest the fields are also patrolled by armed finding of these new markets P We hardly think men. All these armaments require renewal 80. Competition is so keen now-a-days, tlist the from time to time and they absorb large quan- very best thing Government could do to pro tities of ammunition. supporting & legitimate mote the sale of the island's teas, and to encour trade in goods of this description. It is true age the finding of new outlets, would be to take that it is the pirates and bandits that give rise off all duties altogether, if only revenue in to the necessity of honest people arming them- terests would permit it. Formosan less would selves for their own defence, but as to this, the then be placed in a better position to compete first step to be taken to restrict the traffic in arms with the teas produced in other countries, and is to suppress and exterminate the bandits and the island's welfare and prosperity promoted pirates, and then the demand for arms will cease. accordingly. In proportion as the Chinese Governmen is uo- able to properly police its cities and its rivers, the traffic in arms will continue to flourish and the demand will daily increase. The more im- portant the vessel and the richer the villagers, the more necessary to them are arms for their protection, and it would be unjust to impose restrictions them in this respect so long
upon as the Government cannot fulfil its duty in the maintenance of order.
858.40 283.21 8,500.00
Profit and Loss Account Fọa the Six Montas ENDING 30TH JUNE, 1898.
Dr.
To bad debts and refunds
To rates
To interest on mortgage
To directors' and auditors' fees
To fire insurance
To Crown reut
deal with as follows:--
To set aside against repairs and
renewals
$10,000.00
To write off furniture & fixtures
15,000.00
To dividend of 6 per cent
36,000.00
To reserve fund
15,000.00
To carry forward to new accoust
16,448.85
To balance, which the directora propose to
Cr.
By balance from 81st Dec., 1898 $56,900.76
Less dividend of 6
Les transfer to re-
serve fund
per cent.
26,637.00
15,000.00
Less written off fur-
niture and fixtures Less set aside for re- pairs and re..ewals
8,440.88
6,000.00
56,077.88
By rents of shops and offices, new
building
2,980.00
By sants of shops and offices, old
building
6,860.00
By dividends on shares
By bad debts recovered
By profit on hotel working account for six ́mouths endi - g 30th June, 1899......
$ 0. 464.85
12,269.88 1,700.00 1,098.87 865.90
91,448.85
$110,288.85
Repairs and Renewals ACCOUNT.
Dr.
To payments on account of repairs and re- nowals during the half year suding 80th
June, 1899..
To balance ....SA NA -
$
0.
822.88
9,790.00 361:60 8.85
99,302.62
0.
THE ARMS TRADE.
Replying to some remarks which appeared in our colamps a day or two ago the Echo
Macaense says:-
THE NEW TEA DUTY IN FORMOSA.
From the coming into operation of the New Treaties, export duties in Japan have been abolished, but not in Formoss. Here the old duties have been taken off, and in their place a new duty of Yon 1.60 per picnl on Ooloonga, and Yen. 1.20 on on Pouchongs, is imposed on all shipments to places other than ports in Japan, and on shipments to these latter a bar. $110,288.85 bour duty of Yen 1.00 and Yen 0.60 per picul, respectively, is payable. These changes were made without any, or the least, notice being given the general public, or the firms interested, and it was first arranged that they should go into effect on July 17th, but afterwards changed to August 4th. The object of these new duties, at first sight, to one unacquainted with the actual circumstances of the case, would appear to be simply to sucourage trade between the island and Japan, but the result is really while observing the letter of the Treaties, to set aside their general spirit and intention, and effect a very substantial discrimination in favour of a 6,000.00 route which happens to be under the control of Japanese Steamship Companies only, as $7,849.62 against one which is not so controlled. The general purpose and intention of the Treaties
6,956.26 1,893.36
$7,849.62
1,849.62
Or.
$ 0.
·By balance forward from Sist December, 1898 By amount set aside from profit and loss as-
compt
|
Yet another effect of this discrimination in favour of Japan is to give buyers in countries to whom shipment via Japan is convenient a preference in the market bere over buyers in countries to whom shipment by way of Japan is- not convenient! Now, have the Government, by the Treaties, any right to do anything— which will place, be the pretext what it may, any one country at an advantage over any other, equally entitled to the most favoured nation treatment? We hardly think so. Has it, for instance, any right, not only as regards tea, but as regards any product, to place merchants doing business with say, England, Australia, or the Straits, to whom shipment via Japan is not convenient, at a practi- cal-disadvantage in the market as compared with, say, shippers to Canada, or America, or Siberia, to whom shipment by way of Japan is convenient? We cannot believe it...
et that is what the new duties practically do! Again, the shipments of Formosan Pouchongs to the Straits mount up to some 60,000 to 70,000 half chest per annum. Is it reasonable to expect that shippers of these teas should have to send their teas to Japan for transhipment instead of to Amoy or Hongkong, or be mulat in a heavier taxation if they do not? Did the framers of the Treaties contemplate such a state of things? Surely not! If Japan desired the toad for her own consumption, something might be said in favour of her acting in trying to divert the trade to her shores, but where the needs but little, if any, (preferring, as she does, her own teas), and is only discriminating in favour of the route to her shores to beneft the Steamship. Companies, which, at present,"
*"have control of the route, it is quite a different matter., The discrimination to-day is but small, to mosrow it