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Chang-Chih-tung saying that the question is hopeful; but it is required to prepare a sum of seven million taels which are to be delivered within three months. Viceroy Chang-Chih tung has accordingly notified the gentry and merchants of Kwangtung, Hupeh and Hunan to get ready the sums of three million taels, two million taels and two million taels respectively.
CLEANING CANTON!
The new provincial judge is very anxious to put the city in a sanitary condition. As soon as he had arrived from Shanghai, he ordered the local magistrates to devise sanitary measures so as to clean the streets and clear the drains, etc. The magistrates are now busily engaged to raise necessary funds. They sum. moned the other day all the Tipo, or superintendents of streets, before them to ascertain what funds can be raised to carry on the sanitary measures. The judge has also proposed to elect a market inside the city. One of the deputy officers has proposed to him to convert two large houses which are at present
BAYS
rented at the rate of ten taels a month each, He that if the landlords of the two houses are ordered to convert them into a market, they will readily accept the proposal, for they will get much higher rent by renting the stalls.
ANOTHER CHINESE LAUNCH DISASTER.
It is reported that a junk which carried passengers to one of the steamers for Hongkong capsized in Pakai, near Kongmoon, the junk being overcrowded. Over a hundred passengers and the orew were thrown into the water. The people of the custom house, the steamers and the neighbouring boats rendered assistance and saved all of them with the exception of about
fifteen who were drowned.
CORRESPONDENCE.
TRAM NOISES.
TO THE EDITOR OF
THE DAILY PRESS.
THE HONGKONG WEEKLY PRESS AND
COMPANIES.
HONGKONG HIGH LEVEL
TRAMWAYS CO., LD.
An extraordinary general meeting of this company was held at the registered office, Alexandra Buildings, on the 20th June, when there were present Mr. H. Humphreys (chair man, Hon. Mr. C. W. Dickson and Mr. J. Orange (consulting committee), Mesers J. A. Jupp, G, C. Moxon, G. H. Potts, G. Murray Bain, H. B. White, P. C. Potts, Ho Fook. D. E. Clark, A. Cameron, Lau Chu Pak, D. E.
Brown, J. E. Joseph, J. L. Cottar, T. F. Hough, T. Arnold, E. Bowdler, W. Cruikshank, J. M. Wong, J. Johnson, P. S. Jameson, Sin Tak
Fan, A. Morfui, E. A. Ram, H. J. Gedge, C. B. Buyers, J. A. Tarrant, T. S. Forrest and
Captain Goddard.
Mr. JUPP having read the notice convening the meeting;
The CHAIRMAN said-This meeting is called to confirm the resolutions passed at the extra- ordinary general meeting held on the 3rd instant. Before putting these resolutions to the meeting for confirmation. I shall be pleased to auswer any questions.
statement I made.
Mr. BROWN Before the resolutions are put to the meeting, I would like to make a few remarks, to be followed by a few questious which I would like the general managers to answer, Since the first meeting on the 3rd instant a number of letters, including two from myself and one in reply to my first from the general managers, have appeared in the public press. These letters speak for themselves, and although the general managers, in their reply, attempted to prove me wrong, they utterly failed to do so in a single instance in connection with any They tried to justify their advocacy of the present scheme, by simply accus- ing me of inaccuracy based upon insufficient knowledge, by questioning my right to protect my own interests as a shareholder in the present company for the reason that I am not as old a shareholder as some who are going to benefit financially much more than others in what is termed a reconstruction of the company, but which I call, and have called from the beginning an unwarranted and unjustified sacrifice of one of the best paying properties in the Colony, at about half its value, to a syndicate or company of outsiders whose money is not at all likely to be put into the construction of an opposition line, unless they can buy us out at a price that will not only enable them to paint up their prospectus, but will be the one factor in enabling them to promise investors any return on their money before three years at least. Does it look reasonable to you, gentlemen, that $230,000 is all that our present tramway lius is worth as a going couceru, sarning as it has in the past net profits of over 40 per cent, and capable, as it certainly will be, of earning in the next three years further net profits of $50,000 per year on a capital of only $155,000 It is to my mind, gentlemen, a much better asset at
$500,000 than investors will fud the new line which is going to cost that much to build. The general managers are using every effort, for
SIE-A few days ago, a coolie at Kowloon was fined for using a squeaking wheel barrow. With the disgraceful nuisance of the Low Level Tramway squeaking-scrunching and squeaking round the curve at the City Hall- which has been allowed to go on, a more or less unabated nuisance, ever since the tramway commenced running, is not this a good ilus- tration of straining at a guat and swallowing a camel?" It was bad enough in the winter for those who sleep anywhere within half a mile of the City Hall, but in the summer with all one's windows open it is infinitely worse, and the squeaking row, at intervals of about five minutes. is not only more than sufficient to prevent any sleep until after the cars cease running, at about 12 o'clock, but is almost sufficient to drive any one not blessed with the strongest uervos, into a lunatic asylum. It is not as though there was no remedy for the nuisance: there is a remedy, or at any rate a partial one-in the shape of keeping the rails at the curves constantly wet, but althongh the company commenced to do this in response to several private complaints about the noise, they have now ceased to, or at any rate only do it in reasons best known to themselves, to make it the most perfunctory manner. I understand appear that the contemplated opposition of the that greasing the rails, which would appear to projected new line warrauts a dissolution of the be the most simple remedy, is not possible. company and this sacrifice sale. Here I join inasmuch as the greise getting in the brakes issue with them and can only say that it is prevents them from acting on the slopes; but probably a good thing that a bit of new blood surely the tramway company might have sufficient has become interested in the old company, when consideration for the nerves of the unfortunate what is claimed to be 75 per cent. of the old blood inhabitants who have to live in the low level, is willing to desert the ship, and hand it over within half a mile of the City Hall. to do all practically as salvage to a new concernwho for the in their power to abats such a nuisance. I
next three years cau only threaten, and who will have been hoping for mouths that such never be able to injure us as much as this sacrifice thing would not be allowed to go on in. scheme, which is characterised in some quarters definitely; that there must be some Governin language not at all complimentary to the ment authority, who, in the interest of prom ters. I use the word promoters as I the community, would take notice of and
understand the new company is not yet formed. stop it; but as this does not appear to be the I also understand (though the general managers case I am driven to appeal to you to bring hare not up to the present volunteered any the matter before the public in the hope that details to shareholders) that the purchaser (when something may be done to abate such an the purchase is put through) of the · Findlay intolerable nuisance. Trusting that you will Smith Concession is not the present Tramway favour me by inserting this letter in your next Company, neither were they the negotiators, issue, and enclosing my card.-Yours faithfully, as intimated by the general managers when H.K. CLUB ANNEXE. replying to a question asked by Mr. Moir at the
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(June 26, 1905.
last meeting, but a firm or company styled the China Commercial Company," who I under-
stand have undertaken to underwrite the new
company for its promoters, who in turn are depending on buying off the old company at their own price a price for many reasons much more advantageous to them than to us. If I am considered wrong in this, and wrong in my estimate of the old company's ability to continue to stand alone, let the shareholders who think otherwise and are advocating this scheme put their shares on the market at $200 per share (the price they want to force the minority to accept) and see how soon they will be snapped up by the public and how soon the price will return to its legitimate market value of $300 or over per share the moment it becomes known that this scheme to curb its earning power has been knocked on the head. The foregoing, gentlemen, are my reasons for opposing the scheme, and I still contend that Resolution No. 1, even if declared carried, does not constitute à voluntary dissolution and winding up of the old company until the assent of every shareholder has been obtained and although we may again be out-voted to-day, I am glad to have received so many assurances from the public as to the justness and reasonableness of my claim, and good wishes for success in my efforts. In | conclusions, in
I may be wrong in detail in some of my foregoing remarks. should like the general managers to put me right by answering the following questions:
case
I
Who comprises the syndicate promoting the new company
The CHAIRMAN-There is no syndicate. The new company has yet to be formed.
Mr. BROWN-I know that. But who com. prises the present syndicate promoting the new company?
The CHAIRMAN-There is no syndicate.. Mr. BROWN-Who are the gentlemen moving in this? Who are the syndicate promoting the
new company
The CHAIRMAN-The new company has not yet been formed.
Mr. BROWN-I know that. Bat that is not an answer to my question.
The CHAIRMAN-If there is no syndicate there cannot be any gentlemen promoting it.
Mr. BROWN-Do you consider that an answer to my question?
The CHAIRMAN-I do.
Mr. BROWN-Nobody is moving in the matter?
The CHAIRMAN-I am moving in the matter. The consulting committee is interested in the new company and the majority of the members of it will be on the consulting committee of the
new company.
<
Mr. BROWN Are they the syndicate or promoters?
The CHAIRMAN-There is no syndicate and no promoters at present.
Mr. BROWN-There must be, or your scheme could, not be
80 far advanced 88 to bring it before a meeting of this company. Who are the gentlemen who comprise the syndicate who are promoting the new company, and the purchase of the old company for $250,00 (and who purchased Mr.` Findlay Smith's concession?
The CHAIRMAN-The general managers, the consulting committee and the shareholders who
are in favour of the resolutions.
Mr. BROWN--Then there is a syndicate promoting the movement in favour of the new company. Do I understand that?
The CHAIRMAN-There is on syndicate. Mr. BROWN-We'l, a body of gentlemen. The CHAIRMAN-I consider I have answered your question, Mr. Brown.
Mr. BROWN-Who carried on the negotiations with Mr. Findlay Smith (or his agent), and who appears as the purchaser of his concession?
The CHAIRMAN-Mr. Kadoorie, acting as broker for the old company and also the new.
Mr. BROWN-Is the syndicate, or the body of gentlemen, confined at present to the gentle- men named in the press about a month ago as the probable future consulting committee and general managers! Are these the gentlemen who are promoters of the new company?
The CHAIRMAN-Thera can be no promoters until the thing is promoted.
Mr. BROWN-Yes, there can. I simply ask are those the gentlemen who are promoting this scheme, or interested in it ?
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