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3
March 7, 1904.]
HONGKONG GENERAL CHAMBER OF COMMERCE.
CHINA OVERLAND TRADE REPORT. Hongkong General Chamber of Commerce. |
3rd February, 1904. Sir, I have the honour to acknowledge the receipt of your letter of the 28th ultimo notify- ing the intention of H.E. the Officer Adminis. At a monthly meeting of the General Comtering the Government to declare China New mittee of the Hongkong General Chamber of Year's Day, Tuesday, the 16th instant, a public Commerce, held in the Chamber Room, City holiday, and requesting the committen's opinion Hall, on the 9th February at 3.45
as to the advisability of the preceding day, Present: Mr. E. A. Hewett (Chairman), Mr. Monday, the 15th, also being declared a public D. R. Law, (Vice-Chairman), lon. C. W. holiday. Dickson, Messrs. N. A. Siebs, J. R. M. Smith, H. E. Tomkins, R. C. Wilcox, A. C. Wood, and A. R. Lowe (S cretary).
MINUTES.
p.m.,
181
balance to his credit in your books. From the ask him to give your companies this credit, nor nature of your business it is unreasonable to does it appear necessary in such cases where there is no question as to the financial standing of the firm, or individual, with whom you are in business relations. It would certainly make the transaction a more equitable one if the deposit now required was reduced to one half.
3. That the whole of the interest, allowed by In reply, I am instructed to state that the the companies is unjust to the depositer and the bank on the deposits, should be claimed by commit ee of this Chamber are strongly against contrary to custom. It has been stated by you the proclamation of a public holiday on the day in reply to a member of this Chamber that the preceding China 'New Year's Day, and the ma-intention of this interest is a fair compensation The minutes of the monthly meeting held on declaration of Tuesday, the 16th instant, as
jority of the Committee are of opinion that the for the credit you give and the trouble of the 12th ultimo were read and confirmed.
book-keeping. In paragraph No. 2 it is shown public holiday is sufficiout for the needs of the that under this new system the credit is given Colony. I have the honour to be, Sir, Your by the depositor and not by you, unless indeed obedient servant,
yon delay sending out the previous month's ac- counts. It does not, therefore, appear reasonable to my committee that you should demand extra payment for the trouble of entering in your own books transactions with your creditors. They are not aware that other similar concerns demand this, or that this allowance has ever previously been claimed by your companies. It has always be a understood that the autho- rised tariff rates covered all expenses of the administration and left presumably a substantial amount of profit.
COMMITTEE.
The Chairman said Mr. Michelau resigned his seat on the committee ou leaving the Colony, and a letter had been sent to him expressing the thanks of the Committee for his services during the preceding 14 months. It was decided to invite Mr. A. Haupt to rejoin the committee to fill the vacancy.
ACCOUNTS FOR 1903.
The Secretary reported that the accounts submitted at the last meeting had since been audited by the auditors, Mr. J. Y. V. Veruon and Hon. Gershom Stewart, and found correct.
FRENCH DUTY ON COFFER.
Read letters dated 29th ultimo from the Colonial Secretary stating that the proposal to rais the tariff on coffee from 136 to 156 francs per 100 kilos hal now been definitely abandoned by the French Government.
PIECE GOODS CONTRACTS,
Hon. A. M. Thomson,
A
(Sd.) A. LowE,
Secretary,
a
Acting Colonial Secretary. The Secretary reported that the Govern ment Gazette of the 6th instant contained notification that Tnesday and Wednes- day, February 16th and 17th instant, were to be observed as pablic holidays.
Hongkong General Chamber of Commerce.
Hongkong. 28th Angust, 1903. Dear Sirs, The attention of the committee of this Chamber has been recently drawn by several of the leading firms in this Colony to the terms of your circular dated 29th ultimo, in which you intimate that the telegraph service hitherto run jointly by your respective com- pauies will be discontinued as from the 1st
The following letter from Messrs. Deacon. August and, in future, each company will
trausact its busiuess separately,
Looker and Deacon was read referring to the recent case between Wendt & Co. and the Cho
Yik Firm, decided by Mr. Justice Wise on the
18th ultimo :—
1.
It is scarcely necessary to point out that this telegrams, and much less this Chamber, have step on your part is not one which senders of
any right, or wish, to criticise,
senders of telegrams that in future the present The cirenlar, however, goes on to inform deposit system is to be terminated, and in its place conditious are substituted which may be summarised as follows
:-
(2) The amount of the deposit is to be fixed cost of one month's telegrams forwarded by both by the companies and to represent the average
companies' lines.
Hongkong, 18th January, 1904. Dear Sir,-With reference to the practice which appears to prevail amongst piecs goods merchants here of inserting, in many cases, the time of arrival of the goods a their contracts with Chinese as Soonest possible" or some similar wording; and the decision of Mr.ed Bank of India, Australia, and China for the (1) A deposit is to be made with the Charter- Justice Wis this morning in the above case that, notwithstanding these words, the Chinese
joint account of both companies. were entitled to cancel the cntract if it could be shown that there was such a delay in ship picg the goods by the manufacturers at home as amounted, in the opinion of the Court, to unr-asonable delay (in the present instance about 2 months); we would point out that it is advisable that the use of the words quoted above independently of the fixed deposits will be ren- () Mouthly accounts payable on demand and be discontinued, and that the words "As Soond-red by ea comparty. as we receive thei be inserted in the con- trac ́s instead, or else a stipulation be inserted that the merchant sha l not be responsible for delays by the manufacturers at home.-Yours faithfully,
11
(sd.) Daacos, Lookes & DEACON. A. R. Lowe, E-q, Secretary, Chamber of Commerce.
retained by the companies.
3) The interest on the deposit is to be
telegrams must be paid for in cash before trans- (5) If the above option is not complied with,
mission.
It is with regard to those latter conditions that I am to express the views of my committee. In the first place, barely two days' notice is given of the change of system and of a demand After some discussion it was ag eed to pub-pinion that, in view of the radical change which for a large fixed deposit. Aly committee are of lish the letter for the information of merchants, you have effected in the couduct of your bu and not to take any further action unless resiness, longer notice should have been given of quested by the merchants interested in the piece goods trade.
UNDESIRABLES BILL.
the proposed change.
In order to facilitate the discussion of the A copy of the pition address by the order above mentioned: -
new conditions, I will refer to them in the shipping firms and agencies to His Excell-ney
CHINES. NAW YEAR HOLID .YS.
the Officer Administering the Government pro-while you find yourselves unable to receive 1. It seems strange to my committed that testing agains the hardship which would indeposits suffrent to ever eacrent business flicted on shipowners by the proposed “Undesir- with both companies as formerly, you are now ables Bill " was laid on the table.
able to receivo a deposit in the joint names of two compau es. The following correspo dence was rand:
The simplification of your accounts in these matters may be very desir. Colonial Secretary's Office.
able to yourselves, but from a business point f Hangkoug, 8th January, 19 4.
view this is universally considered subsidiary to Sir, I am directed to inform you that His tre convenience of customers. Further it does not Excellency the Officer Administering the Go-se-m right that any person wishing todo business vernment intends to declare China New Year's with one company alone should be obliged to Day, February 16:b, a, ublic holiday. I am tod-posit his funds with both companies jointly. request you to be so g ol as to inform me whether the committee of your Chamber have one month's telegrams it must be apparent to 3. In fixing the deposit at the average cost of any objection to Monday, the 15th, also being you that the advantage is all on your side. The declared a public holday.—I have the honour to atmost surely your companies can demand is be, Sir, Your ubediout servant,
cash on deposit of a telegram immediately before its transmission. The month's deposit you require means that for the best part of the month the sender of telegrams will have a
(Sd) H. F. JoHNSTON, per Acting Colonial Secretary, The Secretary, Chamber of Commerce,
|
4.-The rendering of monthly accounts calls for no special remark, as this occasions no more work on your part than formerly, if anything, trouble is saved to you, as neither will you bave occasion to receive amounts for cover during the mouth nor will you book-keepers require to keep any watch ou overdrawn acconuts (if any).
5.-It follows that a sender of telegrams not exercising the option given him of depositing his money with your companies without even interest on the same, must pay cash each time be desires to send a tetegram through your administration. Several members have already followed this course, and the more it is followed consequent annoyance to the whole mercantile the greater will be the expense, delay, and
community as well as to yourselves, as you are well aware that she handling of cash in small amounts is not a quick process, especially in this Colony.
In voicing the views of the mercantile com- munity on this question, my ommittee are pot representing the facs too strongly in stating companies that the new conditions imposed by your are strongly objected to not merely on account of their arbitrary natu but as another instance of the discrimination between your dealing with customers t home and abroad. Credit is given at home without demur to any respectable firm, and their business tagerly sought for on ac- count of the healthy comp-tition. In this connection, as you sated that you must act alike tall parties, it woul b interesting to know what deposit has been required from the Government as security for their monthly telegram account, also what percentage of bad debts have been made in Hongkong since finitesimal, and is another argument against the establishment here. The latter must be in-
necessity for requiring credit. Your companies are as well placed as any mercantile house in the Colony for gauging the stability of your customers; there is no valid reason why credit should not be given by you instead of to you; and my committee would be the last to put any obstacles in your way in cases where it appears to you to b advisable for financial reasous to ask for cash payments
In reply to an enquirer you have stated that there is no Government telegraph office in the world where telegrams can be handed in without cash payment. This fact is not denied, but the committee do not feel called upon to defend the business methods of Government institu- tions. Nor can they admit the inference you. wish to draw that your administrations are on the sime basis as Government Departments, in face of the fact that you are both limited liability companies formed for purpose of profit why you were able to ob ain certain privileges to your shareholders. One of the chief reasons
as regards landing rights was in view of the benefit which commerce would be likely to enjoy through the quick transmission of news. For no other reason would you have obtained these privileges at a nominal cost, and it was not