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BE
September 5, 1904.]
IN SUMMARy JurisdictION.
FORE HIS HONOUR T. SERCOMBE SMITH
(PUISNE JUDGE.)
A DISPUTED CONTRACT.
Chun Foo Chn. a Hakka, brought an action for $228.22, for work done and materials supplied, against Chan Yee Sen, another con- tractor. Mr. E. J. Grist, of Messrs. Wilkinson and Grist, solicitors, appeared for the plaintiff, and Mr. R. Harding, of Messrs. Ewens and Harston, solicitors, was for the defence.
Mr, Grist stated, in opening the case, that a contract was fixed for the plaintiff to put turfing at Mountain Lodge and Victoria Hospital, the Peak. There was a considerable amount of rain during the turfing operations. In the contract it was not specified that plaintiff was to prepare the place for the turfing, but only the turfing. Parts of the land were swilled away by the rain, and defendant requested plaintiff to make these good. The question was one of quantities and of the extra work done.
The defence set up was that there was in- correct measurement on the part of the plaintiff, and that defendant had already paid over more than the stipulated price.
The case was adjourned till to-day (Friday.) A FIRM'S CLAIM. Hip Yuen Shing, 11, King Sing Street, painters, sued the Cheung Lung firm of con tractors, 14, Stanley Street, for $598. being balance due for materials supplied and delivered. Mr. E. J. Grist, solicitor, appeared for plaintiff. and Mr. F. X. d'Almada e Castro, solicitor, for the defendants.
Plaintiff when called said he entered into a contract with defendant firm to do certain lime- washing and painting for the sum of $950. At present there was a balance due of $598.
Cross-examined-His work was not entirely rejected by Mr. Thomas, the architect, as being hadly done. It was true that the stairs were repainted by another firm, but that was because he threw up the contract.
The Chinese book-keeper who had been
ap- pointed to go through the defendant firm's books produced these and said he had found there was due to the plaintiff a sum of $447.
Cross-examined- The four defendants who formed the firm were present, and agreed that
this sum was due.
At this stage Mr. d'Almada e Castro intimated that he must withdraw from the case in view of the evidence just given.
Three of the defendants, Yam Yuk. Chung Pui, and Sui Cheong, admitted the truth of this statement of the book-keeper, but the fourth, Ya Chan, an old man, strenuously denied the allegation, and said his name had been affixed to the contract not by him but by some other body.
Yu Chan refused to ask any of his partners distinct questions regarding the contract, and
indeed denied that one of the witnesses was a partner at all.
His Lordship remarked that it was very difficult to have any patience with a man like that. He gave judgment for $447 and costs.
Yu Chan protested volubly against the judgment and had to be put out of the Court.
Friday, 2nd September.
IN SUMMARY JURISDICTION.
BEFORE HIS HONOUE T. SERCOMBE SHITH (PUISNE JUDGE).
A DISPUTED CONTRACT.
There was again called the case in which Chun Foo Chu, a Hakka, brought an action for $228.22, for work done and materials supplied (in connection with the turfing of ground at Mountain Lodge and Victoria Hospital) against Chun Yee Sen, another contractor. Mr. E. J. Grist, of Messrs. Wilkinson and Grist, solicitors, appeared for the plaintiff, and Mr. R. Harding, of Messrs. Ewens and Harston, solicitors, was for the defence.
A further adjournment was made till to-day Saturday).
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CHINA OVERLAND TRADE REPORT.
HONGKONG WHARF AND GODOWN CO., LD.
EXTRAORDINARY MEETING.
An extraordinary general meeting of the above Company was held on the 31st ult. at the offices of Messrs. Jardine, Matheson and Co. Hon. W. J. Gresson (chairman) presided, and there were also present Hon. Sir Paul Chater, Messrs. A. Haupt, N. A. Siebs, E. S. Whealler, A. J. Raymond, E. Shellim, A. G. Wood, E. Goetz, E. A. Hewett, C. H. Thompson, H. Schubart (directors). F. R. Smith, L. 8. Lewis, H. C. Wileor, R. C. Wilcox, Hon. Gershom Stewart, T. F. Hough, Ho Fook, and E. Osborne (Secretary).
The SECRETARY having read the notice con- vening the meeting.
The CHAIRMAN said-Gentlemen,-This meeting has been called for the purpose of obtaining your consent to an increase of capital, a step which has become necessary in view of our debenture issue falling due for re-payment on 30th September. and to provide funds for further extensions. The financial position of the Company is broadly as follows:--Our real estate property comprising land and buildings costing $2,790,367 was, according to a valuation made by the Company's architects two years ago, worth $4,135,238, and probably if re-valued to-day would reach a considerably higher figure. We also possess in wharves, railways, launches, lighters and machinery additional assets to the extent of quite $600,000-making a total of $4,735,238, and I have little doubt that had we to purchase these properties to-day we should find the cost would not be less then $5,000,000, which figure, I think, may be taken to represent their minimum value. Our indebtedness is a little under $1,300.000, so that in round figures the net assets are $3,700,000. Our proposal is to issue new capital at $30 premium, or $80 per share, to the extent of $800,000, and we purpose making this issue on 31st December next. You may possibly ask how it is the Board have decided upon this re-arrangement of the Com pany's finances rather than issue new debentures. Our reasons are that we could not renew the debentures at 54 per cent. and possibly not even at 6 per cent., and as the difference between 10 per cent. on $500,000 and 6 per cent. on $800,000 is only $2,000, we consider the saving insuficient to justify locking up the property by a mortgage deed, especially so in view of the important changes that must take place at Kowloon should the railway, as seems hopeful, become an accom- plished fact.
I beg to propose the following resolutions:-
1. That the Capital of the Company be in- creased from $1,500,000 to $2,000,000 by the creation of 10,000 new shares of $50 each.
2. That such new shares be issued at a pre- mium of $30 per share and be offered to those persons who are registered as shareholders of the Company on 1st October, 1904, in the proportion of one new share for every complete three shares held by them on 1st October 1904.
3. That the amount due for the new shares
be called up on 31st December, 1904.
Mr. T. F. HOUGH seconded, and the motion was carried unanimously.
The CHAIRMAx-Thank you for your atten- dance, gentlemen. There will be a confirmatory meeting held to confirm these resolutions.
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quite a curiosity. The endorsement list of the various skippers who have commanded the vessel during her prosperous career is headed by Capt. Frederick Day Goddard, the popular surveyor here. It is as follows:-
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Frederick Day Goddard-1889. William Jackson Davis-1890. Joseph Strickley Roach—1890. Harry Bathurst--1891. Joseph Strickley Roach-1891. Harry Bathurst—1892. Thomas Philip Hall-1892. Joseph Strickley Roach-1892. Alfred Edward Wyburn Hodgins-1894. Joseph Strickley Roach-1894. Alfred Edward Wyburn Hodgins-1895. William Jackson Davies-1895. Alfred Edward Wyburn Hodgins-1897. Anthony Milroy-1897. William Jackson Davies-1897. Anthony Milroy-1897. Thomas Philip Hall-1897. Alfred John Robson-1897, 1898. Samuel Gibson-1900. Harry Bathurst—1900. Samuel Gibson-1902. James William Evans-1903. Samuel Gibson--1903. Edson Stewart Crowe-1904. Charles Andrew Mutton-
The Bailoong was built by Messrs. Ramage and Ferguson, of Leith, in 1888. She is a steamer of 783 tons net register; 1,252 gross register. She has, since her construction, been employed on the China cast passenger and freight tr.de, and the Formosa tes trade.
1
HONGKONG HOTEL CO.,
LD.
The ordinary half-yearly meeting of share- holders in the Hongkong Hotel Co., Ld., was held on the 27th ult. in the Hotel. Mr. E. Osborne (Chairman) presided, and there were also present Mr. R. Chatterton Wilcox (director), G. Murray Bain, G. T. Veitch, H. C. Wilcox, Ho Fook, Ho Kom Tong, Lo Cheung Shiu, Chan Chan Nam, Ho U Shang, and C. Mooney (secretary).
The SECRETARY having read the notice call- ing the meeting,
The CHAIRMAN said
accounts for the past half year, as you will Gentlemen, The have seen from the report, reveal a considerable diminution in the profits, no less a sum indeed than $36,938, the whole of which is due to the falling off in one item of revenue, viz., that derived from transient visitors, which in other words means that fewer of the travelling public have made use of the hotel. To some extent
this is due to the number of small hotels and boarding houses that have sprung into existence during the past few years, but in the main it is undoubtedly traceable to the cessation of tourist trafie in consequence of the war, and to the American mail boats calling at Manila. Other sources of revenue have maintained their normal
no
level, and in some instances even show an increase, despite the changing circumstances, comparatively bad half year, we have so that although we have passed through a reason to anticipate that with a resump. tion of tourist trafic we shall not revert to our former measure of prosperity. Before proposing the adoption of the report and accounts I shall be pleased to answer any ques-
DOUGLAS 8.8. CO. CELEBRATIONS. Į tion that may be pat.
44 HAILOONG" COMPLETES HER 500TH TRIP.
There were jubilations on board the Douglas 5.8. Bailoong on the 31st ult., when the ship was decorated with bunting, and Capt. Charles Andrew Mutton was at home to his friends. Capt. Matton, by the way, is to be congratulated on his promotion from first officer of the s.8. Haimun, in which capacity he acted during the Times' charter, to captain of the Hailoong. Mr. Chapman, the chief officer, was responsible for the putting up of the decorations. Flags following the figures" 500” denoted “trips," se that the shipping people in the harbour, putting two and two together, would be able to tell the reason of dressing ship. The Hailoong has cleared and entered from the port of Hongkong no less than 500 times the characters “500” were hung in greenery from the jumper stay. Her certificate of registry.
■ discoloured, mouldy, time-worn document. is
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There were no questions.
The CHAIRMAN accordingly moved formally the adoption of the report and accounts.
Mr. MURRAT BAIN seconded, and the motion was carried unanimously.
Mr. Ho Fook proposed the re-election of Mr. W. H. Potts as a director.
Mr. G. T. VEITCH seconded, and the motion was agreed to.
Mr. Lo CHEUNG SHIU moved that Mesars. H. U. Jeffries and A. R. Lowe be re-elected auditors.
Mr. H. C. WILCOX seconded, and the `motion was agreed to.
This was all the business. Dividend warrants will be ready this (Monday) morning.
The leading foreign employees of the Chinese Imperial Railway Servios have now received the China medal and clasp for 1900.
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