October 10, 1908.)
here in the city. These same foreign friends have lavished ..
1on him numerons expensive presents which are much in evidence in the king's private quarters. The presents are not marked made in England," or "made in America. While he was in a state of des- titation it seems that the Tibetan priesta ignored him and refused to give some help which they should have given him. Now that he is their king, the scales are turned, and he is showing his resentment toward them for their conduct toward him when he was destitute, by ordering a large number of them to leave the largest lamasery in the city in a certain number of days. This, of course, is causing much excitement among the lamas, not so much because they have been ordered to leave their temple, as because of what they fear the king will do next against them. This is the only section of Tibet where the king's authority exceeds that of the lamas.
A MILITARY INVASION, The latest report from Chêngto is, that a force of three thousand soldiers, regulars, are on their way in to Tachienlu, and that they are to proceed towards the interior of Tibet. No one seems to know what the trouble is, but there seems to be something seriously wrong between the two countries.
A SET-BACK TO MINING,
proposes to close
The magistrate is getting ready to leave for Luchou. During his stay here, of thirteen years, he has taken an interest in gold-mining. Some mines about twenty miles from the city have been opened and worked with partial success. Two thousand or more miners are now engaged at the mines and are dependent on the employment they go there for a living. Now that the magistrate is going away he the mines before he leaves. The mines are on the Tibetan king's land, and he has not been getting anything out of them, so that he wants them closed too. Therefore the king has united with the magistrate in ordering the mines to be closed. They have given the operators ten days to close up the mines and for the miners to get out. If the mines are not closed in that time the king is going to send one hundred, and the magistrate fifty soldiers into the mines to drive the miners out. It means that many of the investors will fuse their capital and thousands of miners will be deprived of their occupation. Such is the fate of enterprises controlled by the official class in China-N.-C. Daily News.
CORRESPONDENCE.
CAINE ROAD TERRORS.
TO THE EDITOR OF THE "DAILY PRESS." Hongkong, 5th October. SIE,-A few week ago a letter appeared in your columos re ferocious dogs in Caine Road. Subse quently (last week) the owner was find $10 at the Police Court, and promised to take better care of the dogs. On Friday last the same dogs attacked à Chinaman in the same manner that they did other persons previously. Now, when is this going to stop You will see in Caine Road a number of children and amshs, and it these dogs are not going to be kept under control the inhabitants of the locality will find some morning a mournful cortege arriving at their doors with their children either worried or scared to death. It is time that these dogs were destroyed.-Yours, etc.,
STONEWALL.
TO THE EDITOR OF THE ** 'DAILY PRESS."
Hongkong, 6th October. SIB,-The sooner Stonewall" comes from behind his wall and suggests a better method than mussling my dogs, the safer it will be for the children who have never been bitten; otherwise I am very much afraid the "mourn. ful cortege" will soon appear at his door. I would advise "Stonewall to revert to his old abode,
Another bit of advice: "Stonewall" should try to persuade his unruly children from inciting my dogs when chained up. In "Stonewall's previous communication be stated he was a lover of dogs; probably, liking dogs so much would no doubt wish to see I' doge kept on chain without any exercise whatever
all
CHINA OVERLAND TRÄDE REPORT.
"Stonewall," when mentioning the incident of Friday, omitted to observe that the dogs were muzzled and in charge of a coolie, as a P. 8. will verify.—Yours faithfully,
CHAD T. KEW.
TO THE EDITOR OF THE
DAILY PRESS." Hongkong, 7th October. SIE-In reply to your correspondent signed "Chad T. Kew," should the "mournful cortège' be predicts arrive at my house I should know how to act. Mr. Kew should not draw hasty conclusions when he refers to the previous com- manicstion in your paper, which I deny in toto. For his information, I may say that after the disgraceful occurrence of women being worried, their clothes torn, and legs lacerated, I reported the same at the Central Police Station. my children (aged 2 and 3 years respectively) teasing the dogs when chained up, it is absurd and needs no comment.-Yours faithfully,
As to
C. E. WARREN.
CHAIR AND RICKSHA COOLIES.
TO THE EDITOR OF THE ·
DAILY PRESS.
11
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271
year. We
per share to reserve
June, 1902 the comparison is a and not upset by exchange. The working for the year 1902 shows a balance. 8968,815 98 now to be dealt with," this being rather more than $150,000 in excess of the balance shown for the 1901 account 1 propose to pay a dividend of (against $30 last year), to $150,000, an to carry forward to under- figures for the year 1903 are, so far as they writing suspense account $48,815.98. The go, exceedingly good, showing an increase in premium of more than $100,000 and a de- last year at the crease in losses of $166,000 as compared with are aware, it is far too early to make any same date, but, as you forecast of the final result yet. Turning now East have increased by some $200,000, and that to the balance-sheet we find our funds in the investmen's in London and Melbourne have in- creased by some £44.000. On the other side of the account we find an increase in paid up capital of $500,000 and a decrease in exchange fluctuation account of a similar sum. The share holders were fully informed of this proposed transfer from exchange fluctuation account Hongkong, 7th October. to capital account last year, and it was carried SIE, A few days ago you had an article in out at the end of the year without any dissent- your paper on the subject of ricksha cooliesing voice being heard. This brings me to the and chair-coolies. I therefore venture to write question of exchange, a question which was support to suppress a nuisance-I may say, meeting and has continued to be an ever- to you hoping you will give your powerful referred to at some length at our last; annual to some Europeans of a somewhat irritable present matter of consideration to temperament, a quite intolerable nuisance. I directors in the meantime. allude to the fact of every other chair or ricksha-coolie one passes in the street soliciting our custom--and this in no quiet fashion, but Hi, John, Hi Captain; ricksha,_chair!" shouted at the top of their voices. I had just and walked to the Hongkong Dispensary; come from the Hongkong and Shanghai Bank during that time I should think I was bawled at quite 100 times-mark you, this was done simply as an impertinence, the men well kuowing they were not required. One man almost followed me into Watson's, and on my calling the attention of the English gentleman there who served me, he remarked things were managed very differently in Shanghai, and that such a state of things there would not be tolerated for an instant. I wonder where else it would be. proach we have to a ricksha. I wonder how long A Bath-chair in England is the nearest ap. people in England would stand a chorus of shouts and yells from all Bath-chair men on a stand and the being followed in your walk by some half-dozen ?
44
1 have known China off and on for close on thirty years, and I am always most careful to treat shop-keepers, servants, etc., with civility and courtesy-I never chaff them, and never wish to do so. It is not 100 much, surely, to has passed the half-century, might be allowed think that a humble subject of the King, who
to walk down the main street of an English colonial town shrieked at like a mad dog.—Yours, etc.,
without being howled and
ENGLISH MAN.
UNION INSURANCE SOCIETY OF CANTON, Ld.
In the Society's offices, 1, Queen's Buildings, at noon on Thursday, the thirtieth ordinary meeting of shareholders was held. Mr. A. G. Wood (chairman) presided, and there were also present Messrs. N. A. Siebs, H. W. Slade, E. S. Whealler, and C. A. Tômes (directors), W. J. Saunders (secretary), Hon. Gershom Stewart, Messrs. Ahmer, C. E. H. Beavis, H.J.M. Carvalho, J. A. Carvalho, F. D. Goddard, F. B. Hett, H. R. Hunter, G. Melchers, J. R. Michael, H. M. J. Nemasie, C. H. Rogge, A. B. Rouse, H. W. D. Schmidt, E. V. M. R. Sonza, R. C. Wilcox, and G. Winterbarn.
The SECRETARY having read the notice calling the meeting,
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your To a company whose liabilities to its shareholders are in dollars, but whose business is mainly in sterling and whose assets have therefore to be largely held in sterling, the proper method of dealing with exchange is of vital importance, and I think our violent Auctuations in the value of the dollar system has very well stood the test of the recent The reinsurance fund and underwriting suspense account which you were told last year were treated as gold liabilities are this year shown as snob in the balance-sheet. The investment fluctuation account is mainly a gold liability, and also the working account, 1903 balance is, to a large extent, in gold. Any fall in the dollar equivalent of sterling investments would be met, to a large extent, by a corresponding fall in the above-named liabilities, and for the rest we account, which is at the present time sufficient have to fall back on the exchange fluctuation to insure the balance of our sterling assets up to 2s. 6d. for the dollar, which seems a fairly safe limit. The dollar now stands at 1s. 101d., or 248. higher than it did at the 30th June, a rise of more than 11 per cent in the three months,” and shareholders are to be congratulated on being able to remit their dividends home at this igure should they wish to do.so. Before pro- posing the adoption of the report and accounts ask any questions. I shall be glad to hear if anyone would like to
No questions boing asked, the Chairman proposed that the report and accounts as pre- sented be adopted and passed.
The Hon. GERSHOM STEWart mid-Mr. Chairman and Gentlemen,-I riss with very much pleasure to secon the adoption of the report and accounts, but the figures are so extremely satisfactory that I do not think it requires any words of mine to recommend them to you. They speak themselves,
very eloquently for and I am sure We feel in a very contented frame
can all of mind when we 800 our resðurves so well in vested and available at the shortest possible notice. I think the remarks which the chairman made about the manner in which this company treats the very difficult problem of exchange are worthy of earnest attention. It shows us the sound way in which good management can meet this very dificult ques tion, and
an object lesson which, we can all profit by. When we find the yearly reports issued by the company continue to be so satin- factory in the face of the ever-changing The CHAIRMAN Baid Gentlemen, conditions of wind and weather, and The report has been in your hands for increasing competition, we must rea nearly three weeks, and with your per appreciate that our interests. mission, I will take it as read. The able bands at all points. figures we have to lay before you are, we know that the foundations. consider, very satisfactory. favourably in
They compare of this company were wall and every particular" with "the ||careful, steady and consistent figures contained in last year's report, and as gone by, and it is comforting the rate of exchange taken for the 30th June | same systematic efficiency 1903 is the same as that taken for the 30th that we are a much larger
f