276
If a
I have consistently taken, since the commence- ment of the war, has been (and this is the third consideration I allude to) what risk is likely to be encountered in the voyage between Ho gkong and the port the vessel clears for. possibility of capture and a personal danger to life may reasonably be thought to exist, I have not-in spite of the foregoing considerations— enacted the fulfilment of the agreement. On the other hand, where no apparent risk can be shown, I have endeavoured to point out to those concerned, and usually with success, that it is their duty to proceed; otherwis: they are liable to punishment.
There is, however, one point unlike others I have dealt with, in your case, which has to be considered. It has transpired, and I have the declaration before me, that the coal your ship is carrying is not intended for either of the billi- gerent feels, but is consigned to a firm in Naga- Raki. Before coming to a decision I desire to give you men an opportunity to consider your position from the
have stand points placed before you, with a view to affording yon an opportunity of returning to your duty. This the men refused to do, and His Worship continuing said:---
the necessary
THE HONGKONG WEEKLY PRESS AND able for us being removed so far from the water frontage. Your directors then began to seriously examine varions localities, where we might find a new and suitable place, and after much inquiry, examination and consideration, we finally decided that a site at North Point was the most suitable for us, and after some delay iu making and agreeing to arrangements required by the Government, we 8 slated by the finally acquired this site. then chairman from the chair at one of our |
three
years ago, ordinary meetings some temporary arrangements had been made to finance the scheme, and on the 30th June Ing', we issued a circular letter to all the shareholders notifyinr them of the land acquired, and of the necessity of increasing the Capital of the Company from $150,000 to $450,00) and them for our inviting suggestious from guidance in carrying the proposed scheme It is perhaps unfortunate being through. compelled to call up new Capital at this t me when money is so scarce; but we trust it may be more plentiful by the 3th June, the date on due. It is our which payment becomes intention to issue 6.000 shares at twenty. five dollars each fully paid up, Although I have a statement to the effect that each registered shareholder will have an this coal is not intended for the use of either tunity of taking up one new share for each old belligerent fleet, I have had to consider whether share he holds when the new shares are issued. such statement would or would not be sufficient Should we be successful in disposing of our Wanchai properly at a good figure goon, we do to prevent the ships' detention in the ereat of her capture, on the ground that such coal was not purpose issuing the remaining 6,00 shares. being taken to a Japanese port. Such detention. This property is in the market, and judging until the case was tried by a Russian prize from the opinion expressed by the acting Direc court, might reasonably be said to involve tor of Public Works at the Sanitary Beard risk, and this being so, I am not prepared meeting some months ago that the inland lot to insist that the mea should proceed. occupied by No. 3 Police Station, Wanchai, On the other hand I am not going to allow would if sold by auction fetch 86 per square the severance of your connection with your feot, we are hopeful that our marine lot vessel, and bave therefore made arrangement. of 42,000 square feet held on a 999 years with Captain Forsyth, that you will be maint-lease and carrying the proposed reclamation ained in the Sailors' Home here until your vessel returns to port, failing which, other arrange ments will be made for your future.
COMPANIES.
GEO, FENWICK & CO., LTD. An extraordinary general meeting of Messrs. Geo. Fenwick & Co., Limited, was held at the Hongkong Hotel on the 25th April.
Mr. A. Rodger was in the chair and there were also present Messrs. Hart Buck, W. G. Winterbarn, W. Farlane, J. R. Forbes, J. R. McCorquodale, J. D. Kinnaird and J. I. Andrew.
The CHAIRMAN-Gentlemen, this extraordin- ary meeting has been called as you are no debt all aware, to propose and if thought fit, to pass a special resolution, which has been well advertised in the local newspapers. But before reading, and formally proposing the resolution, I would for your information like to make a few preliminary remarks. In 1902 the Hong kong Government began to put pressure on us to remove from our present works at Wanchai, by giving us notice of two years, to cease pursuing a noisy trade in that locality, and to our surprise on looking crown lease. which is for a term up our of 999 years, we found it stipulated that no noisy or other objectionable trade should be carried on there. As we are assured, that the same trade of Engineering, etc., had been carried on in the same premises for something like forty years, and as we were not then prepared to cease working or to remove elsewhere, we laid our case before one of the best
legal authorities in the colony, and while his opinion was that seeing this trade of Engineers, etc., had been so long carried on there, that the Company acquired the property
the to continue
trade then carried and which had for so many years been in existence and that the Government had re-
011,
gistered the Company for this specific pur-
pose, that he was of the opinion that we could resist with a fair show of success if the case, came before the Court; but that all things considered, he recommended that we should take the earliest opportunity of removing to another locality, and realizing that when the projected reclamation in front was begun and that we could not possibly get permission to carry on our business on the new reclamation, the present premises would be quite unsuit-
80 that
May 1, 1906 The amount available for appropriation Tls 76,937.01 which the Directors suggest distributed in the following should be manner :-
Directors' and Auditor's Fees Secretary and General Manager
1,764 Telephones at ṛls. 2 Pay four taels per share to share-
holders, equal to 8 per cent. Raise the Reserve Fund to Tls.
90,000 by placing to it. Carry forward to new account
Tis 1,750.00
3,528.00
26,610.00
45,000,07 59.01
Total.. Tls. 76,937.01
HONGKONG NEUTRALITY. EXTRAORDINARY PREPARATIONS.
Hongkong's duty is obviously to maintain neutrality, not of the benevolent French kind, but of the strictest. Some facts
Authorities responsibilities. oppor.
rights will feich a good price some day soon. The new site we consider a most suitable one, the advantages of having a works on the Hong- kong side of the barbour are great, and the electric tramway passing the premises has enhanced its value. We have a water frontage of 400 feet, with a depth of about 20 feet at low tide, and are hopeful that with brisk trade in the Colony, and good management, the under- taking will be a success; but it must be ex-
pected that until the place is completed and in good working order, we can hardly anticipate being able to pay the usual 15 per cent. dividend on the increased Capital. The new shares will rank equally with the old shares so far as dividends are concerned from the 1st July, 1905. The CHAIRMAN then read the following resolution:-
"That the Capital of the Company be increased from $150,000 to $450.000 by the creation of 12,000 new Shares of $25 each; that 6,000 of the said new Shares be offered to the parties who on the 29th day of April, 1905, shall be Members in propor ion to the existing shares held by them; that the full amount of each of the said 6,000 new shares taken up be paid to the Company either (without interest thereon) on or before the 30th day of June, 1905, or (with interest thereon at the rate of $12 per cent. per annum from the 30th June, 1905, to the 14th August, 1905, or for such lesser period as the Directors shall from time to time or at any time determine) on or before the 15th August, 1905; and that the remaining 6,000 new shares be offered to such parties, at such time or tims and upon such terms and conditions as the Directors shall think fit and determine."
The CHAIRMAN-If any gentleman present wants any further information I will be pleased to give it to the best of my ability,
There were no questions.
This
The CHAIRMAN moved and Mr. FORBES seconded the adoption of the resolution, was carried.
The CHAIRMAN-We have asked Mr. Hart
Back to rejoin the Board of Directors and I am pleased to say that he has accepted. Thank you for your attendance, gentlemen.
THE SHANGHAI MUTUAL TELEPHONE CO., LD.
The Directors have to report satisfactory progress in the shape of new telephones con- nected with the Exchange and in the conduct of the service generally.
gathered on April 27th indicate that the to their are fully awake The Ordnance Department received instructions, we learn, to issue four (4) twelve pounder (12 cwt.) quick firing guns, which were to be mounted on Stonecutters Island yesterday (Thursday) afternoon.
H.M.S. bion is being repaired rapidly. The Fleet is now said to be to the south- ward
of the island The Hardinge (transport) has been detained, guns are being issued; and everything points to the. fact that the Governor, the Admiral, and the General are on the alert; and determined to be ready, forcibly if necessary, to prevent any breach of neutrality.
The prevailing feeling in naval and military circles yesterday was decidedly one of anxiety and unrest,
26
THE HARDINGE
"
DETAINED.
It is
The transport Hardinge, on which the 93rd Burmas embarked on April 27th has not yet left the harbour, and we learn that, owing to the presence of the Baltic Fleet in the vicinity His Excelency hesitates at pre-ent to allow the transport to sail, not supposed that the Fleet would moles, the transport, but the reason for the deten- tion of the ship is probably to be found in considerations of policy regarding the strength of the forces of the Colony at the present time.
The R.L.M. s.8 Dufferin, now on her way from Hongkong to Taku with Indian reliefs, ought to return to Hongkong with troops shortly. Unless the Baltic Fleet has by that time passed to the north, these may also be detained at Hongkong,
"
"TANGLIN SIGNALLED BY RUSSIAN CRUISER.
The Norddeutscher Lloyd s.s. Tanglin arrived from Saigon on April 20th with a cargo of rice. The chief officer said that a Russian Hospital ship had called at Saigon and purchased 50,000 francs worth of provisions. Tho general feeling at Saigon is that the Baltic Fleet is in excellent condition, well provisioned and likely to pat up a g od fight. As far as can be judged the Russian policy is to wait for full reinforcements before proceeding north. There is a very strong pro-Russian feeling in the city, and a general idea that should the Japanese be victorious conditions for foreigners will become unbearable in the Far East.
While steaming on the passage from Saigon to Hongkong, off the Annam coast, a Russian cruiser shot out from the direction of Vung-ro Bay and signalled "What is your cargo After the Tanglin's reply the Russians wished her a pleasant voyage.
$
It was to be presumed that other ships of the Fleet were in Vang-ro Bay, which is a beauti- ful land-locked harbour immediately south of Cape Varela, forming a splendid haven of refuge in bad weather. A military fort regularly inhabitel by a captain, two lieutenants and about twenty-five native soldiers is situated