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September 22, 1902.]
authorities under orders from St. Petersburg, the only condition being the observance of the inland team navigation rules and regulations. Messrs Bandinel & Co. are to be congratulated on this termination of what appeared a vexations interruption interruption of their enterprise.
CORRESPONDENCE.
[We do not hold Gurselves responsible for the opinions expressed by our correspondents.]
MACAO AND ARMS-SMUGGLING.
TO THE EDITOR OF THE DAILY PREFS."
Hongkong, 16th September. S18,-In your issue of the 7th ult. you published a letter from the Portuguese Consul- General in this Colony to the effect that the rumour which was then current that large quantities of arms had been imported into Macao for the interior of China was untrue and bad no foundation whatever, as enquiries made by the Macao Government into the matter had failed to elicit any support of the said rumour. I do Lot know whether the public mind was satisfied after that, but the article you publish in your issue of yesterday, under the heading of "Alleged Arms-Smuggling," seems to point to the fact that the 1umour had some raison d'étre, even if untrue. It also disposes of the belief entertained by some people that the rumour was circulated maliciously with the intention of getting the Macco authorities into trouble. Thanking you in anticipation for the insertion of these lines,-Yours, &c.
VERITAS.
CRUELTY TO ANIMALS.
TO THE EDITOR OF THE "DAILY PRE: 8,
13
Hongkong, 18th Septemler. SIB, Will you kind y permit me through the medium of your columns to draw the attention of the Government to the barbarous practice prevalent in bird-skojs of cooping in young pups in bamboo cages about one and a half times (or even less) the size of the unfortunate animals, with the inevitable result that a deafening noise is maintained day after day, much to the annoyance of passers-by. Another matter which might also be locked into is the amount of seed with which the birds are fed; judging by the semi-empty seed boxes there would seem to be very little. It is a well known practice among bird-dealers to starve the creatures so as to heighten the notes of Fongsters and thus attract the attention of intending purchaɛers-which, if tine, is brutal in the extreme and deserving of condign punishment-Yours, etc.,
HUMANE.
UNIVERSAL TRADING CO., LD.
The second ordinary annual meeting of sbareholders in the above Company was held at the cffice, 4, Des Voeux Road Cential, on the 12th inst. Mr. Ellis Kadoorie, the general manager, presided, and the others present were Messrs. Chau Sin Ki, Lau Chupak, Kwong I'o Shiu, Poon luen Chuen, end H. A. Meyer (secretary).
The notice convening the meeting baving been read,
The CHAIRMAN said :- Gentle men,-The re- port and accounts having been in your hands for some time, I shall, with your permission, take them as read. As you will have seen by the report, we are unable to declare a dividend for our last bilf year. It is to te regretted that owing to a combination of circumstances which it was quite impossible to foresee, we find our- selves in this position. You will, however, observe that our property in Shanghai, which has absorbed $82,733.17, is as yet unproductive, but this will only be until November next, when it is hoped that it will be completed and cccupied. I have nothing further to add, but if any shareholder bas any question to ask I shall be pleased to answer it.
CHINA OVERLAND TRADE REPORT.
The next lasiness was the re-election as auditor of Mr. W. H. Potts, and on the motion of Mr. CHAU SIU K1. seconded by Mr. KWONG Po SHIU, the reappointment was duly made.
This was all the business.
HONGKONG COTTON SPINNING, WEAVING & DYEING CO., LD.
The fifth ordinary meeting of the above Com. pany was held on the 15th inst. in the offices of the general managers (Messrs. Jardine, Matbeson & Co.. The Hon. C. W. Dickson (chairman) presided, and there, were also present eɛSTS. A. Haupt and R. Chatterton Wilcox (directors), W. A. Cruickshank, K. McK. Rcss, C. H. Ress, J. Barton, K. A. Chiney, J. A. Chinoy, Ho Fock, Lo Cheung Chiu, Ho Yu Fan, A. Shaw (manager), A. Brooke Smith (secretary), and others.
The notice calling the meeting having been read,
-
to
The CHAIRMAN said Gentlemen, The report and statement of accounts now before you I propose with your concurrence to take as read. The r sult shown I hope you will regard as satisfactory. Our yarns are becoming well and favourably known and there is a steady and increasing demand for them, which under normal conditions should allow of our working with fair margins. The position appeared to your Consulting Committee sufficiently en- couraging to justify the purchase of additional preparation machinery and a further 5,000 spindles, part of which has already arrived and been erected and the remainder is expected be in working order early next year. Although latterly we have been handicapped to some extent by considerable sickness amongst cur operativos yet we have reason to congratula'e ourselves that we this year escaped any severe visitation of plague, and if only we are next year equally fortunate we may hope to benefit by increased production from the addition to our plant and also from the gradual improvement which is taking place in the aptitude of our workpeople. The health of our employees is a matter of very great importance to the Com- puny, nd it is obviously good policy to ensure their being comfortably housed. To this end it has been decided to expend a considerable sum in the erection of a large and suitable building capable of accommodating some 800 hands, the site selected being upon land adjacent to the mill itself and belonging to the Compaby. These quarters should be ready for cccupation ly the end of March next, and it is hoped that being kept as they will be in a s rictly sanitary cordition the dangers of an epidemic will te very much minimised. The items of expendi- ture I have alluded to will explain to you the reasons which actuate the policy of writing off property account what may appear to you a large amount. Before moving the adoption of the reports and accounts, I shall be pleased to answer any questions.
No questions were asked.
The CHAIRMAN-There being no questions, beg to more the adoption of the reports and accounts as presented.
Mr. K. A. CH NOY seconded, and the motion was unanimously adopted..
Mr. J. BARTON moved the confirmation of the appointment of Mr. R. C. Wilcox as a member of the Consul ing Committee, he bay- ing joined the Committee during the tempor ary absence of Sir C. P. Chater, C.M.G; also the re-election of Messrs. A. Haupt and R. C. Wilcox to the Consulting Committee.
Mr. K. McK. Ross recorded, and the motion was adopted unanimously.
Mr. W. A. CRUICKSHANK moved the re- election of the auditor, Mr. W. Hutton Potts.
Mr. C. H. Ross seconded, and the motion wis adopted unanimously.
The CHAIRMAN-That is all the businers, gentlemen. Dividend warrants will be ready to-morrow on application.
The effects of the many earthquake shocks which Japan bas experienced within the past thirteen years, cr since the great Bantai-san eruption, have recently been compiled. In this time these disturbances have caused more than
There were no questions, and on the motion of the CHAIBMAN, seconded by Mr. LAU CHU-40,000 deaths, have destroyed about 200,000 PAK, the report and accounts were adopted and passed.
dwelling houses, and dine damage to the extent of 100,000,000 yen.
921
UNION INSURANCE SOCIETY OF CANTON, LD.
The following is the report for presentation to the shareholders at the twenty-ninth ordinary noon, on Thursday, the 9th October :- meeting, to le held at the Society's Offices, at
The directors hare new to submit to the shareholders a report of the business of the ociety for the year 1901, and for the six months ending the 30th June, 1902.
1901. The net premium collected for the year, after deducting returns and reinsurances. amounts to $3,458 543.50. After providing for a bonus of 20 per cent. on contributions paid in May last, there remains at credit of working account a balance of $816,: 93.96 as per annexed
statement.
From this sum the directors recommend the payment of a dividend of $30 per share, equi- valent to 60 per cent. on the paid-up capital of $50 per share, and an addition to the reserve fund of $100,000 raising the reserve to $1,600,000. The balance remaining of underwriting suspense account to close the $416,23.95 they propose to carry forward to
account for the year 1:01.
1902. The balance to the credit of this year's account amounted on the 30th June, 1902, to
$1,672,433.78 as per annexed statement.
DIRECTORS.
Since the list general meeting Mr. B. L. Richardson and Mr. H. W. Slade have resigned their seats on having the Colony and the Hon. R. Shewan and Mr. G. Balloch have joined the Board.
In accordance with clause 86 of the Articles of Association, Mr. A. Siebs and tre Hon. R. She wan
retire, but cffer themselves for re-election.
AUDI ORS. Messrs. J. H. Cox and W. Hutton Potts
retire, Lut offer themselves for re-election.
PAID-UP CAPITAL.
The directors take this opportunity of informing the shareholders that it is intended to increase the paid-up capital of the society. This capital was raised in 1895 from $250,000 to $500,000 by the transfer of $250,000 from exclu nge fluctuation account. Since that date the society's business in sterling countries bas tery largely increased, while on the other hand, wing to the full in the exchange value of dollar, the sterling equivalent of the paid-up capital has considerably diminished. There is once more a large accretion in exchange fluctuation account, and the directors propose to repeat the operation of 1895 and again double the paid-up capital. They propose, therefore, to make a call of $50 a share payable on the 31st December, 1902, and to declare (ut of the exchange fluctuation account an interim dividend of the same amount per share payable cn the same date and to deduct the call from the dividend. This will increase the paid-up captial to $1,000.000 and reduce the uncalled liability on the shares from $200 to $150 per hare. After the ordinary business of the meeting is finished the shareholders will be asked to signify their approval of this step.,
C. S. SHARP,
Chairman.
Hongkong, 18th September, 1902.
The latest Straits papers to hand state that the drought continues; the rain that appears to descend in ample quantities all around the island refuses to shower its blessings on Singapore. The resources of the Municipality are being severely taxed, but so far they have proved equal to the occasion. The latest de- velopment is municipal well-opening and well- digging. Some of the old masonry wells built by Syed Allie bin Mahomed al Junied about the year 1851 Lave been found. The work of erecting stand-pipes is progressing well and as soon as there is a sufficient number on the large main, the supply to the side mains in some of the thickly populated side streets will be cut off and householders will have to draw their sup- plies from the stand-pipes. All that can be done in the way of watering the streets with salt water is being done, but with a supply of water carts limited to eight, the watering area is necessarily restricted. The other carts are engaged in conveying fresh water to high level
districts.