March 10, 1902.] transaction of business with him, and expressed his regret at parting with them.
H.E. the Viceroy rising to reply, gave expres. sion to the grief that he and the other officials felt at the departure of Mr. Butler, and hoped that before long he would return to Foodhow, Mr. Sha, the Interpreter of the Board of Foreign Affairs, next rose and read the following speech in English. "Their Excellencies the Tartar General and the Viceroy desire to say that when Mr. O'Brien-Butler so kindly called upon them yesterday they regretted they had not sufficient time to express their feeling of -regret at parting with him. They therefore thank him the more cordially for his kind invita- tion, as it gives them an opportunity to express their friendly sentiments. The intercoure of the Chinese officials with H. B. M. Consul has always been on the most intimate terms and their Excel- lencies cannot easily forget the kindness and fairness shown by him in all transactions. They hope Mr. O'Brien-Butler will before long be reappointed to Foochow that they may have the benefit of his good advice. Their Excel- lencies are sure that their friendly sentiments are reciprocated. They beg to express their
CHINA OVERLAND TRADE REPORT.
CORRESPONDENCE.
We do not hold ourselves responsible for the opinions expressed by our correspondents.]
VICTORIA GAP TERMINUS.
56
TO THE EDITOR OF THE DAILY PRESS.”
""
Hongkong. 1st March 1902. SIR,-I fully endorse every word written by "Peakite" in connection your correspondent with the necessary roofing-in of the terminus station at Victoria Gap. He does not exaggerate in the least the annoyance and discomfort we
poor mortals who have to wear skirts undergo in wet weather in getting in and out of the tramcar. When it rains, all round the step of the car is dirty black water, and we must per- of themselves or alight upon force leave the aforesaid skirts to take care
our noses and run the risk of spoiling the 'features underskirt so much in vogue at the present of our face" as well as the elaborate silken time. Then there is the dainty head-gear with its-chiffon and feathers which one wetting will
179
NATIONAL BANK OF CHINA.
The annual general meeting of the National Bank of China, Limited, was held on the 1st inst. Mr. J. Lauts (chairman) presided, and the others present were Messrs. Ĉ. Ewens, Chow Tung Shang, Chan Kit Shan_(directors), Ng Ping San, Y. Kes Sang, Kwan Fong Kuk, Chan Hing, Kom Wa Kit, Ng Chit Mee, Fung Wa Chun, Terry, R. C, Wilcox, and Humphreys.
The CHAIRMAN said-Gentlemen, I have now the pleasure to submit to you the report and balance-sheet to 31st December, 1901, which, with your permission, we will take as read. You will please to see that, our profits are the best we have had yet, being net $149,198.55 against $117,682,08 last year. The dividend this year is $1.68 against $1.50 last year, and $1.36 the year before, and we continue our policy of placing a substantial part of our profit to reserve the amount added this year being $60,000. These results are all the more satisfactory, as the
the effects of the Boxer troubles in the North period under review has been a particularly dull one, trade not yet having fully recovered from of China. It had been hoped that by this time
thanks for the hospitality extended towards completely ruin, to say nothing of the mortifica. dealers would have regained confidence, but
them to-day, and they propose Mr. O'Brien- Butler's health wishing him a pleasant journey home, conveying with him a well merited re- putation."
NORTHERN NOTES.
We take the following items from the P & T, Times of the 22nd ult. :-
Sheng Taotai and General Hu are promoted to be Vice-Presidents of the Board of Works.
Our latest Peking news is that the Court will visit the Eastern tombs, some 250 from Peking, on the 3rd day of the Fourth Moon.
A movement has been undertaken to start a Mounted Infantry Corps in Tientsin. If there seems to be just ground for proceeding further in the matter application will be made for government co-operation.
Our last private advices from Newchwang are very reassuring, and deal with the supposi- tious frictions of the port. We say supposi tious," because we are now assured that they have been unduly magnified out of all proportion,
Apparently we are to have an exceptionally early opening of the navigation this year. The China Navigation Company's s.s. Kalgan now in Talienwan-or Dalny, to give it the new name-will be in Tongku in a few days to load for Hongkong. The same Company's s.s. Tientsin leaves Sanghai to-day for this port where she will at once reload for the return voyage to Shanghai.
Our contemporary pays the following tribute to Lord Lansdowne over the Anglo-Japanese Alliance-Let us not forget to put the Treaty itself to the credit of Lord Lansdowne, whose success in the Foreign Office up to date has been quite remarkable, No reader of the Blue- books in China, for example, can help feeling that a stronger tone was adopted from the moment he went from Pall Mall to Downing Street. We bave a strong suspicion, moreover, that both Sir Ernest Satow and Sir Claude MacDonald have been factors in the final issue.
Chinese officialdom seems to be waking up to the advantages it may reap from a Press connection. A Chinese friend in Peking tells us that the Manchus are thinking of starting a native organ in Shanghai under their own immediate auspices. The late Viceroy Li was often approached on this subject, but rever quite took in the "platform" idea. When it was explained to him that Western statesmen often found it expedient to have newspapers of their own, he was lost in wonder as to the why and wherefore.
The case of plague which occurred last week proved fatal, the victim being an Asiatic Portu- guese in No. 3. Health District. We note that the Medical Officer of Health is now issu. ing a weekly return, dividing up the cases according to locality and also according to race European, Chinese, Indians, Asiatic Portu- guese, Malays, Japanese, and others. The cases this year have been 2, with 2 deaths. The other cases of disease in the Colony last week were:— Enteric fever, 1 (Portuguese, not in the City); small-pox 2 (one a Portuguese on the s.. Oriental), both fatal.
tion of knowing that all the time spent in making oneself look nice and attractive (as all we ladies like to do) for visiting has been ntterly wasted, and instead we present a bedraggled and limp appearance and wish we had remained at home.
After all, a covered-in station is surely not much to ask for or expect from so flourishing a company for the comfort of those who have been its chief supporters from its foundation, viz. the Peak residents, and who, unlike the casual traveller up and down who can choose a fine day, must get to their homes, come wet come fine. I am quite sure all the resident ladies at the Peak, and many who do not reside there, too--as they also are liable to be caught in a heavy downpour such as we hope to see soon -will agree with me in urging this more than necessary alteration of Victoria Gap terminus upon the Company before the rainy season sets in Yours, etc.,
ONE OF THEM.
NEXT YEAR'S RACES.
TO THE EDITOR OF THE "DAILY PRESS.
"
Hongkong. 2nd March, SIR.-Re the waler griffins, it is just pos sible that the Hongkong Jockey Club is not aware that in every state of Australia the pastoral industry is controlled by a Govern- inent Department, the head of which is styled the Chief Tuspec'or of Stock. It is also just possible that if the Club communicated with one of these gentlemen (I would suggest P. R. Gordon, Esq., Chief Inspector of Stock, Brisbane, Queensland) they would receive information quite as valuable as that imported by your correspondent "Crock-owner," whose opinion that Sydney wool firms are the best people to supply griffins is, to say the least, open to question. Yours, etc.,
а
A. CAMPBELL MACMILLAN.
A NEW PILOT STEAMER.
TO THE EDITOR OF THE "DAILY PRESS,"
while transactions have diminished in volume they have increased in safety, and we can only trust that the present year will see a much- wished-for extension of trade all round. Our Government securities show a reduction from last year, and they stand in our books at well under market value. Before moving that the report and accounts be adopted, I shall be happy to answer any questions that share- holders may desire to ask.
proposed and Mr. TEREY seconded that the ra- Ther being no questions, the CHAIRMAN
port and accounts as presented be adopted,
The motion was carried unanimously, and seconded by Mr. KOM WA-KI, that Mr. It was proposed by Mr. KWAN FONG-KUK, Lants be re-elected a director and that Mr. Buttery be re-elected a member of the London
Committee.
The motion was agreed to.
On the motion of Mr. CHAN HING, seconded by Mr. No CHIT-MI, it was agreed to appoint Mr. R. C. Wilcox auditor, and that Deloitte, Dever, Griffith & Co., chartered accountants, be re-elected anditors in London at the same remuneration as before.
The CHAIRMAN-That is all the business, gentlemen; I have to thank you for your atten. dance. The dividend warrants will be ready on Monday.
CHINA-BORNEO CO., LD.
The third ordinary yearly meeting of the China-Borneo Co., Ld., was held on the 1st inst. Mr. C. S. Sharp (Chairman) presided, and the others present were Messrs. E. Osborne, W. H, Wickham, W. D. Jupp, O. Baptista, Leung Shui Lam, and J. Wheeley (Manager).
The CHAIRMAN said Gentlemen, the report and necounts have now been in your hands for some days, and I presume there is no objection to their being taken as read, but, in regard to the report you may perhaps have noticed a clerical error which has cropped in with reference to the dividend recommended, which should be ten per cent, on the paid-up, not the subscribed capital as stated: and in this respect it is to be amended. The Company's operations Hongkong, 28th February. during the year under review show a fairly satis. SIR,-Referring, to the paragraph under the factory result, but not so good as the previous above heading, which appeared on page 2 of year. The falling off is not due to a smaller the issue of your paper of the 26th inst., wherein quantity of timber being produced and sold, but statement is made that the Government partly to the lower prices ruling during the steamer Stanley was designed by Mr. H. F. period under review, and partly to the absence Carmichael, I shall be obliged if you will be of some exceptional profits we were able to make The dividend (25 per good enough to permit me to point out in your in the previous year. next issue that the statement referred to is cent.) paid you last year was, as previously stated,” erroneous and that the Government steamer for the two years 1899 and 1900, or equal to 12j Stanley was not designed by Mr. H. F.
per cent. per annum. The year we propose to on the Carmichael, but by me alone, and that Mr. H. F. pay, a dividend of 10 per cent. Carmichael took no part whatsoever in the paid-up capital, to write $39,259.96 off the designing of the Stanley. Having regard to value of the Company's launches and lighters, the landatory terms in which the aforesaid $1,644.01 off the engine department, $5,000 ass paragraph speaks of the Stanley, I think it only provision against possible losses of advance to right and proper that the credit in connection contractors and labourers. The amount $8,985 with the designing of that vessel should be standing at contingency account in the last given to the person to whom it is due, vis., my-statement, you will notice, has been reduced by self.-Yours, etc.,
$5,594.68. This does not affect the result of the B. J. BARĻOW. year's working in any way, as certain contrasts'