458
COMMON MI LS IN CHỈYA.
(Duly Fri
The co..on mill industry basi GI med out in North China to be the mine of weaitu
thit was somewhat too fondly looked forward to by its originators. The pioneers have, in fact, found the usual result-that they have had to pay dearly for their experience and that they, who had the courage of their convictions and started an enterprise fraught with benefits to their kind in the not distant future, have themselves had to bear the quips and slings of outrageous fortune. One, the Yabloong Cotton Mill is so hope lessly embarrassed that its chief creditors have insisted on selling the affair by pubhe Bill
its
That the
THE HONGKONG WEEKLY PRESS AND
Counts.
[December 7, 1901.
RUSSIA AND JAPAN.
uses that had leon silently accumulating in 1 cking, but had been neglected, suddenly burst, and for a whole year the entire part
Laily Frees, 3rd December.) ¦ of North China, the principal mart for the
If the belief of the correspondent of the 3:ducts of the mills. was reduced to.
pureby. It let me only a choice of evils, | Times at St. Petersburg, that there is a whether to work or close up Heavy stocks good foundation for the rumour that the of raw cotton were on hand or coutructed Manchurian negotiations have been dropped for, and in either case had to be paid for, in consequerce of Japan's objections, should while Leavy charges for advances Fad to be turn out to le correct, then the result can provided for. Under the best of circum-only be termed remarkable. It is of course stanecs it is an expensive matter to close even unwise to build upon this expression momentarily a laige industrial concern; to of Lelief as yet, but the correspondent in shut down under the circumstances seemed question is not likely to have committed little better than suicidal, so probably wisely, himself to such a statement without some for the best interests of all, the concerns grounds. Coming in conjunction with the were kept at work with the full knowledge indubitable evidence of better feelings be- that they were being in at the expense o ween Russia and Japan, the news acquires auction, while the International
dditional significance. The recent visit of acknowledges the loss of one fourth capital, and that none, if they caped at capital and straightly infirms its bate-all, could hope to do so without a very a Japanese commercial mission to Odessa, bolders that only by facing the los can serious readjustment of their capital ac- where they were warmly welcomed, has
On the other land it is well t
been followed by quite an ovation to Mar- it bod fh any ho, of being able to stim the tide of misfortune.
remember that both companies commenced quis Iro, who after an interview with Count LAMSDORFF on the 26th November bas directors of these companies woe to blame work on a capit: 1 that [roved insufficient
now been received by the Tsar himself and for taking too sanguine a view at the begin- for their requirements. 1 Yabloong Com- ning of the enterprise, without weitag to ste | pany, with a paid up capital of five hundred decorated with a high order. A visit to its first results, goes without saying, and they and seventy thousand taels, spent on its land M. DE WITTE, the Minister of Finance, is would be now the first to acknowledge the and plant seven hundred and thirty-six, also arranged. We were told by REUTER fault. Most men can be wit alter the while the International, with a capital of last week that the Marquis was confident event, but it is only fair to say that at the
eight hundred and ferty, spent eighty thous that the interviews would do much to end time the sky was clear, and even the wisest and over the million. This, however, is, it the misunderstandings between Russia and failed to appreciate the gns of the eming med badly be said, the lesetting sin of all Japan, and that bis visit alone was proof tempest. Even at the lagi ning there were, China undertakings—indeed it may be said that the relations between the two countries however, difficulties which he experance of of such undertakings over the world. In are more cordial than they are supposed to the fast might lave: uticated. Le capital few cases, exceptional causes at the beginning | be. It cannot be supposed that political of the mills is largo y CL Lese, and anyo nable such a company to overcome early matters interesting the two countries were might have anticipated that, being so, the these preliminary difficulties, Lut in tcouot discussed during, the meeting of the Chinese would might and main Lave striven
many they remain as a weight slung round for the car of the valu u detulings
the shoulders of the original pioneers. Th. It is, however, one of the climacteristics of
Yabloong Con pavy, finding all hope of the Chinese that no matter how much they escape cut off, and an appeal to the share have at stake they are readily led away by Lolders unfruitful, has unfortunately beer the chance of an immediate profit. Tue
compelled to see its property placed on th this instinct, and momentarily forgetting market with little hope of its realising muel how much they bad at stake, they were ma above the mere value of the land and with better loth to corner the cotton market. A wiser materials. The other company, and clearer-headed race would have seen
prospects of success, having within the last that thereby they were working against nths not only paid its interest out e
position to reduce their own permanent interests; but when
armings but being" in did such wise ideas ever enter a Chinese
its indebtedness teme six per cent., is offer head? It was far more nonant with
og debentures to its shanebolders and Chinese morts of thought to bave a good
lers toil anunt of had a million taek g mile bafure eterng on the steady werk
'i ke 14w capital, sans and debenture, would of manufacture; and the good gan
lus amount 1 1 118,800 tals. On the other herd, the incuntsientin land. b
ope
Ne they
were determined to buve. Souch might
|
Japanese statesman and his bosts, but it would not be profitable to speculate yet on what lines the discussion was
fucted.
con
It has been obvious recently hat Russia is not unwilling to court the ienship of the youngest among the great owers. The St. Petersburg and other. Russian semi-official papers bave hinted vie or less broadly during the current year 1 the advantages promised to Japan by an understanding with Russia, and the Russian uthorities in the Far East have certainly voided such behaviour in matters where be Japanese are concerned as they have for ustance exhibited toward British interests. Russia, as is well known, is anxious to laims much the same. Marquis Iro, in his appear as the Asiatic champion. Japan
have lean foreseen by the European u anak- mentat the leginning, and probably was, luts and plant acknowledged to be in per-peech at the Metropolitan Club in Paris they were too much committed to the order and of the most suitable nature- various & hemes to seem to seek to throw
-
on the 24th October, said with regard to China that he believed the Japanese to be the only people in the Orient who fully understood the significance of both the old Chinese civilisation and the new Western civilisation. He considered it a noble when business becomes again regularly es- mission for his country to try to play a tablished, it seems to le fairly probable leading role as a broker nation" in the that the shareholders will obtain a reagon-future maintenance of peace in the Orient. able return on their reduced capital within With both Russia and Japan assuming such a not long extended period. Should nothing an attitude toward Asiatic affairs, it is clear unforseen cecur-and indications are on the that, if both are sincere and not merely self- hole favour; ble The new industry may eeking, force of circumstances tends to The outstanding ceonsidered as passed its te thing time. bring them together,
Russian claims in we may leck forward to the manufac difficulties are many. ure of cotton in China as a permanent Manchuria, hussian and Japan pretensions in Corea, and conflicting commercial in- Ldustry of the land.
terests, all make a satisfactory understand- The Union (Shanghai) seys
ing difficult to attain. For the advantage military authorities re doing their best to of all nations with dealings, commercial stop the rowdyism of their soldiers and in con- sequence of the stabbing of a Chinaman and and otherwise, in the Far East a condi- other little jokes, it is said the liberty of all the tion of harmony between Russia and Japan ren has been stopped. As we stated before, is to be hoped for, and there is no doubt that he cendret of the nn must cause the officers picerstress. The only troops in u pre the Asiatics, that herghei who have not been disgraced by the T. Ps." This paragraph wight le muret did to the notice of General Voyron and also of certain German military erities of the recent operations in China.
jess the 70,000 poposed to be written off. would be. 1,070,000 taels. As in the pro- cold water on them, and hence the first fitable portion of the year pust the company carnings were divided,, and no experse succeeded in making a profit in all of 38,000, spared to bring every department at hand may reasonably expect a good deal more start up to the most perfect condition. In many respects they were right, even though this had to be done at a sacrifice; and it is certain that as yet no one had any reason to expect the political whirlwind that in a few wecks bare fair to us do in China the work ard the struggles ieary. sixty years. Jut 1 be ore many Chinese nere ut urly loves;:ube, i nd can of, vevlud of. ing that le long in leu bat lose by a. rebain n. taking a hand, le lus ako & very good idea when he settles himself down to business of making the best of the situa- tion; and the directors of the various companies did not besitate to build on this hope.
Other industries, as silk and sugar, Lave lad the same difficulties to sur- mount, and have surmounted them success- fully. There is little doubt that ilis would haveEventually come true withcotton, though probably the time occupied would have been longer than the original founders of the industry anticipated. They were not, bɩw- ever, to have the opportunity of trying the experiment. In June, 1900, the pent-up
akt
con duet -ismithe
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The German
such harmony would tend to the lessening of friction between Great Britain and Rui-
between the former country and Japan. A sia, owing to the excellent relations existing number of English writers, recently bave better feeling between our Government and been advocating an attempt to establish a