January 23, 190.]
CANTON-HANKOW RAILWÀY.
-0-
CHINA OVERLAND TRADE REPORT.
HONGKONG JOTTINGS.
16th January,
The latest balance sheet of the Hongkong and Shanghai Bank must be a record one. Lucky are they who bought shares at the issue
price of $125, and have held on to them. The quotation now stands at $705. After adding a million to the reserve fund instead of the usual half a million (making that fund to stand at $18,000:10 while the paid-up capital is only $11.000,00), and writing off property account $200,000, the Directors are able to recommend a substantially increased distribution to the shareholders, and to carry forward no less than a million ani a half. C'est magnifique!
gaol is about 3 a.m, after which hour sleep in the surrounding dwelling-houses becomes well- uigh impossible. Some years ago there was a similar complaint, but a petition to the anthori- nights. Now the annoyance has been revived. ties brought the suffering residents peace at and I am asked to publicly mention the matter
in the hope that the “tintinabulation "
may be deferred to an hour when the world and his wife are awake and can bear the poiss without sore vexation of spirit.
How the acquisition of the Tajong Pagar docks at Singapore by the Government is likely to affect Hongkong is a question which is not readily answered until fuller information is available of the intentions of the Government. It is doubtless one outcome of the conferences
(Daily Press, 21st January.) So much has been written about the. Americau concession for the railway between Canton and Hankow, about its partial capture by the Belgians, and about the political aspects of this re-arrangement of the proprietary, that it is almost impossible to refer to it again without risk of tedious repetition. The recent developments, how- . ever, and the importance of the matter both commercially and politically, seem to dem und at least some short comment. Our readers must by now be familiar with the state of affairs which led to the stoppage of the work of the engineers, before more than Naturally while exchange stands high a good twenty miles of the Yueh-han Railway had deal of complaint is heard about the mainten been constructed; to numerous agitations ance of charges which were fixed when the among the gentry of Hunan and Kwang-exchange value of the dollar fell to Is. 7d, and tung; and to the recent bombshell dropped the exchange rate ni the dollar, the yearning remarked in a public spech:
If there were any stability about by the Imperial Government when it in for a reduction of prices to something like the structed its Representative at Washington old rates would demand immediate attention. to proclaim the cancellation of the bonds, but until we get fixity of exchange I fear we If this were meant merely to bring matters can hope for ver. little in the way of a cheapen-
to a head between the American Govern- ment and the Chinese, it was not long in
answering its purpose, as the telegram of Secretary HAY shows.
eren lower.
ing of prices As the dollar has fallen in value. not only has rent and the cost of living
increased, but it must not be forgotten that salaries have also increased. The butcher who did five years ago, doubtless finds that in the now charges much more for his meat than he same period the working expenses of his busi. ness have increased in something like the same proportion—perhaps not quite to the saine extent as his profits, but still to an extent
which will not adnit of a reversion to former prices in the market list. Before we can hope
immediate change in that direction, even a deci- sion to adopt a gold standard of currency could not immediately produce any substantial lower- ing of the cost of living. The only change we are likely to see in rents is in the direction of
The American Government now recoguises the American- China Development Company as a bona file American concern. This would not have; mattered very much, would Bot have eliminated all possible trouble, as we pointed out last October, if the controlling interest had remained in the hands of the Belgian catspaws of Russia and France; to reduce rents to the old figure, and men mast for much in that way, landlords must be induced but the Belgian interests have been bought, be found to work for the old wag-s. And as out. After six years of intrigue, alarm | agreements for terms of years precluda hope of ing to British interests, and destructive of American prestige in the eyes of the Chinese, the terms of CHANG CHIH- TUNG's proviso against transference to other nations or persons of other nationality have been respecte i. The property is again in American hands, or at least, so we are
Following so closely as it does upon the triple informed. It may be remembered that execution in this Colony the sentence of four M. MALI, one of the Belgians on the Board, years' imprisonment by the Russian tribunal had naturalised as American citizen.
an
at Shanghai for murder presents a striking Whether the others have followed suit, ani contrast in ideas as to the punishment which so justified the claim that the concession is its the crime. By the way, it is worth remark- again in American hands, we do not know.ing with reference to the triple execution in this It cannot matter, however, as the announce
Colony that though there was some talk of a ptition for a reprieve, there seemed to be a ment by Secretary HAY is tantamount to
remarkable unnimity of opinion as to the an American Government guarantee that justice of the sentence and the wisdom of carry. there are to be no further political entaugle-ing it into effect. Happily, it is rare indeed that
The Franco-Russian dream of junction between north and south, shutting us out of the Yaugtze sphere, is over. The
ments.
American decision must reconcile the Chi- nese, and satisfy the British, and we may
hope to see a resumption of the actual work of construction of this line which is to bridge the six hundred and fifty miles of territory separating the important trade door of Canton with the rapidly rising mart of Hankow. Commercially, this is a happy issue, for the American-China Development Company may be relied upon, now that the political causes of obstruction have been removed, to get forward much more expedi- tiously than the Chinese, who were 50 anxious to make the railway themselves, but could not produce the necessary funds. Arrangements have been made, we are told, to hasten the completion of the line, under permanent American control, and all British and American residents in China are pleased.
The Model Dairy of Messrs. Walte & Co., at Tientsin, has lost over twenty fine importe cows during the past few days from an outbreak of rinderpest. Though the cattle are all stall
fed, it is unknown how the disease reached the dairy, which has always been conducted on the best and latest sanitary principles. Sympathy will be felt with the firm in their heavy financial loss.
increa e.
a white man stands at the bar of the Supreme Court in this Colony arraigned on a murder charge. It is more than twenty years since a white man stood on the scaffold in Victoria Gaol, but many Chinese have been hanged in the interval, and the memorable event in the
police annals of the Colony placed on record last week demonstrates to the Chi. nese population that the British law as it is administered here as elsewhere is no respecter of persons.
There were good old times in China many centuries ago when the exemplary punishments consisted merely in a change in dress, the criminals having to dress in a certain way according to their offences. The step backwards to this from a four years sen ence for murder and deprivation of civil rights does not seem a great stride. In the days when China had these exemplary punishments, a Sage tells as
+
+
however, has changed since then. People in those noboly committed an offence." The world,
ays were simple and honest"-now, according to the same authority, they are
deceitful and over-active," and that being the case I am afraid that if we revert to the old exemplary punishmen's of China, the o cupation of the fashion-makers in dress would, like Othello's. be lost. Most peop'e would wear the uniform!
I am reminded by the preceding notes of a complaint which has reached me from the vicinity of the Gaol. It appears that the regulation hour for tin-dish washing in the
which have in recent years been held at Singapore by the Admirals of the China, Australia and East Indies squadrons. Just before his retirement from the Governor- ship of Singapore. Sir Frank Swettenham "You have in Singapore the making of a great naval base which we believe is already almost impreg- nable." Whether the Government intends to but whether they do or who her they don't create this great naval base we shall soon know:
Hongkong is certain to remain the chief baso for docking and refitting, and the private ship-
building establishments of longkong may hop to derive some advantage for some years to come from the expropriation of the Tajong Pagar Docks.
BANYAN.
SUPREME COURT.
Monday, 16th January.
IN ORIGINAL JURISDICTION.
BFFORE SIR H. S. BERKELEY (CHIEF JUSTICE).
LOO WING KEE V. THE YU HING LONG FIRM.
In this action, plaintiff, who sought to re- cover $4,721.42 owing to him by the defendant firm, on the 12th inst. obtained judgment, but His Lordship stayed execution till the fact of his having obtained judgment was advertised in 8 Chinese newspaper. As before, Mr. N. Ferrers, instructed by Mr. R. A. Harding,
appeared for the plaintiff.
Mr. Ferrers said they had advertised. His Lordship made the necessary order.
MELCHERS AND CO, V. THE CHIN FUNG WING FIRM.
The plaintiff firm sued the defendant firm (of No. 282, Queen's Road Central) for $3,069,6-4 damages with respect to eishteen different contracts made by the defendant firm between March 19 2 and June 1904. Mr. Calthrop, instructed by Mr. T. V. Steavenson, appeared for the plaintiff firm; the defendants absent.
were
The assistant manager of the plaintiff firm produced sixteen of the eighteen contracts. He said that they had mislaid the other two, one being dated the 27th December 1902 (goods to the value of $162), and the other the 24th June 1904 (goods to the value of $270). When ` the plaintiff firm received the goods the defen- dants were notified. The whole of the contract they were claiming for, including godown ex- penses and insurance, amounted to the value of $8,8 The plaintiffs had auctioned the goods, realising $5,135.
His Lordship gave judgment for the plaintiff firm with costs.
IN SUMMARY JURISDICTION.
BEFORE SIE H. S. BERKELEY (CHIEF JUSTICE).
SIN FUK HING LUNG FIRM v. CHUNG LA CHIN,
This was a claim for $121. Mr. R. Harding appeared for the defence.
The paintiff being absent Mr. Harding asked for judgment for the defendant with costs. The defendant claimed that he had paid the money.