CHINA'S TRADE IN 1901.
The following table gives the revenue col- lected at each treaty port during 1901 :-
Port Newchwang
Tientsin
Chefoo
Kianohan
Chungking
Iohang
Shasi
Toobow
Hankow
་
Kiukiang
Wahu...
Nanking
Chinkiang
Shanghai
Soochow
Hangohow
Ningpo Wenchow Santuso Fooohow
Amoy
Swatow
Canton
Kowloon
Läppa Samahui
I
...
(a.) Kongmoon. (b.) Kumchuk
Wuchow
Kiungohow
Pakhoi
Lungohow
Mentez Szeman
Hk.Tls, 751,621.2.7.5 764 514.0.9.1 764,999.5.9.7
* 107,414.6.8.9 514.949.7.0.6 869,705.2.8.6 12,783.2.0.5 3,934.0.8.8
2,087,668.2.0.1
828,201.4.6.5 584,349.8.4.6 200,899.8.3.1 991.628.1.4.7 8,152,696.2.4.7
93,220.2.5.6 618,128.4.8.0 647,973.3 3.9 45,981 8.3.8 140,282.1.5.3 1,040,097.2.2.5 690 548.9.9.9
1,559,014.8.8.5
2,159,627.0.4.8
†404,450.4.1.7
$378,605.9.8.3 113,664.1.9.3 37,724.8 0.9 23,318.3.3.5 348,215.5.1.9 178,238.3.3.5
156,939.7.8.2
5,994.8 5.2 224,185.6.6 4 9,008.7.7.7
Total Hk. Tls. §25.537,574.1.6.6 *Not including lekin collected on import and export junk cargoes, Hk. Tis. 13,058.8.4.7. fIncluding lekin and ching-fei Taxes, Tls. 217,017.7.7.2,
Ipoluding lekin and ching-fei Taxes, Tls, 98,907.4.8.8.
During the year 473 Drawbacks were marked for each payment: their value, equal to HE. Tls. 19,359.9.5.0, is to be deducted from the total collection.
CORRESPONDENCE.
[We do not hold ourselves responsible for the Opinions expressed by our correspondents.]
A CORONATION GIFT TO THE COLONY.
ง
TO THE EDITOR OF THE "DAILY PRESS.'
Hongkong, 21th March. Sig-The Government of Hongkong has been doing all it reasonably can for the physical well-being of the community at large, as an instance of which may be cited the Wongnei cheong Recreation Ground on which plots have been allotted to the various olubs playing there, but these allottments are not exclusive. that is to say, a plot allotted to a particular club is not in the sole use and enjoyment of that club: there is generally another clnb to share it on specifled days; and this sort of arrangement in the circumstances appears to be unavoidable. The Wongneichedog ground is far away from the town, and there is no such ground in the heart of the town, and it is somewhat strange that no attempt has hitherto been made to provide one in close proximity of business quarters so that office people and others might find it easy and convenient to have a half or an hour's outdoor recreation daily after 5 pm. on leaving their respective avocations, which caunot be with the present recreation ground at the other end of the town. Reclamations have been going on in Hongkong for some years past and are still going on. Let Government choose some spot as near as possible to be converted into a cricket and tennis ground, to be, after the Wongnei- cheong ground, allotted to the numerous cricket clubs now playing there, giving up the Wong- neicheong to football and golf. Or Govern- ment may be relieved from this responsibility by some prominent gentleman coming out with his privatë munificence and making a present of much ground to the Colony in commemoration of the forthcoming Coronation. The name of
THE HONGKÔNG WEEKLY PRES AND
that fortñnale man of such amiable munificence is not far to geek. It is on the lips of all Hongkongites and especially sporting men- Yours, etc.,
ECHO
DANGEROUS ROADS.
DAILY PRESS." Hongkong, 26th March. SIR-Whose duty is it to look after the safety of our highways and byways? I would ear- nestly draw attention to the unprotected and highly dangerous condition of the lower end of the Wanchai Gap Road. I refer to that part of the thoroughfare to the East of the house named "Sea View," The road is not wide at that point, and drops sheer down on the side indicated. A slip over the edge would mean at least a fractured skull or limb: it might mean it stant death. Some bemused sailor or soldier, making his way down to Queen's Road from Kennedy Road will tumble over the side, and then it will be lucky if no one has
to be arraigned for manslaughter. The roadside alluded to ought to be protected by iron railings.~Yours, etc.,
TO THE EDITOR OF THE
TOWNSMAN.
CHINA AND MANILA STEAM-
SHIP CO., LD.
March 29, 1902.
outlook for this Company is very black; I cannot say that I take that view. The trade with the Philippines is growing very largely, and al- though more ships come on against us I think that is equally compensated for by the increased volume of cargo going forward. We, in conjunction with the other two lines, are watching the situation very carefully, and I can assure you, gentlemen, that we will not waste money needlessly. It is not desirable at a public meeting to enter into the details of what we are doing, but I may assure you that the interests of the Company will be very carefully guarded. We have two of the finest boats that have ever been on this coast, and passenger and cargo their popularity as steamers has been most clearly demonstrated, They are favourites with shippers on account of their larger cargo-capacity, as when there is a rush of cargo there is much less danger of any being shut out and causing confusion and trouble with broken shipments. In such cases Chinese shippers are very apt to combine and take up some cheap cargo-boat that may be offering in the market, a danger that these larger carriers obviate. The two small boats, the Esmeralda and Diamante, have been with- drawn from the Manila line and are being employed in the rice-trade from Saigon and Bangkok, for which they are well adapted. Both boats tand at a low figure in our books, and can be run cheaply and should make a good return to the Company; but we are quite prepared to part with either if a reasonable can be obtained. So far, however, price although we have had negotiations in one or two directions, we have not succeeded in eliciting a firm offer. The statement now laid before you shows that the position of the Company is far from an unsound one, that your property is not over-valued, and that there is no real reason for much misgiving on the part of those share- holders who are bona fide investors and not merely speculators who have bought for a rise and take no permanent interest in the Company. It is true that Great Britain's new allies, the The CHAIRMAN said Gentlemen, as usual Japanese, have come upon the scene and cat we will, with your permission, take the report into our business, and if this be the ways of friends and allies we may well pray to be saved and accounts, copies of which have been in hands for some days past, as read. The profits from our friends! But these things are only for the year show a falling off, as cargo was temporary. The whole nature of the Manila trade rather scarce for a few months, but I am glad with Hongkong has changed, and is changing, to say that this did not last long. Since then, but when conditions have adjusted themselves the traffic between this place and the Philip. to the new order of things I have every hope that this Company will emerge from the struggle pines has increased. We have at last began to get some return cargo from Manils, the coolie in a better and stronger position than ever. A trade has revived again, and the saloon-passen- sugge tion has been made that we should pay a ger trade continues to grow, and justifies as in dividend in scrip if we cannot pay one in cash. every respect in the step we took in building That might have been done, if all the share- boats of the size and class of the Zafiro and holders had subscribed for their proportion of the new shares, by declaring a dividend and Bubi. In proof of this, I may tell you that we have al eady had to increase the saloon accom-receiving it in payment of calls, but under pre- modation of these boats since they came ont here. Under all the circumstances, and bearing in mind that we bad the benefit of running one of the new boats for only month,
•
The nineteeth ordinary general meeting of the China and Manila Steamship Co., Ld., was held on the 22nd inst. at the offices of the agents. Mr. R. Shewan (chairman) presided, and among others present were Messrs, N. A. Siebs, H. P. White, D. E. Brown, and G. H. Medhurst (directors), D. Gillies, (Dr.) Noble. G. K. H. Brut ton, G. T. Veitch, C. Palmer, A. Babington, T. Arnold, S. A. Joseph, E. S. Joseph, A. C. 8. Manners, J. S Perry. A. G. I. Somerville, A. G. Gordon, Sia Un. Ho Fook, H. Humphreys, C. Ewens, S. J. Michael, J. R. Michael, C. Klinck, S. S. Benjamin, Fung Wa Chün, P. C. Potts, and J. McMurtrie.
one
your
that we
I think a net profit of $115,000, after ample allowance has been made for depreciation, cannot be considered unsatisfactory. It is a great disappointment to us cannot pay a dividend out of these earnings, but a glance at the accounts will show that this is impossible, as we have no funds in hand available for such a purpose. To complete the purchase of the new boats we have had to borrow £50,000 from London, giving a mortgage on the vessels themselves as security, and this loan has been written down in the present accounts to an exchange of 1/9, which explains the item of $49.000 odd against exchange adjustment a/c. To provide for the repayment of this load, we issued additional capital to the extent of $500,000, but notwithstanding the encouragement to make this issue that we received at the time and the promises of support that were made to us, I am sorry to say that when it came to the point a great many shareholders were found wanting, and foolishly, as I think, instead of protecting their property have preferred to abandon their interests and sell out at panic prices. I am glad, however, to say that not all have acted in this manner. So far, over 50 per cent. of the new capital has been taken up, and when the weaker vessels have all retired, the result will be that the shares will be in stronger and better hands. I understand the opposition that has recently come on the line has been the cause of frightening shareholders into thinking that the
sent circumstances it is not, practicable." It comes to this, that we must wait another year
for a dividend, that is all. Some shareholders appear to think that because we have a debt of 7 laes we must give up the thought of dividends for years to come, but I do not follow their reas- oning. We have or shall have I think at least 3 lacs from the new capital, which will leave a debt of 4 lacs on property worth over 2 millions, which is merely nothing for the Company to carry. If it is, then many companies must be in a bad way, though they are paying their interest and good dividends as well with much larger debts than ours.
In conclusion the CHAIRMAN proposed the adoption of the report and accounts.
Mr. D. GILLIES seconded. He thought they would all admit that it was folly to run a line of passenger-steamers that were not adapted to the trade. Such was the position of the Com. pany two years ago before the new steamers were ordered. The old steamers were very much too small and lacked passenger accommodation for the increasing requirements of the Manila trade, and it was thought advisable to get two new vessels quite up to date and giving the passenger accommodation that was neces sary for the lives, and that had been very clearly stated by the Chairman. The trade between here and Manila had increased very much, and if they wished to retain that interest in the trade that they held in former years, they must be prepared to put steamers upon the line that would encourage passengers to travel by them. The old steamers did not give the accommoda- tion, and passengers were inclined to
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