July 1, 1905.]
COMPANIES..
3. C. FARNHAM, BOYD & CO., LD.
ANNUAL MEETING.
The annual general meeting of Messrs. Farnham, Boyd & Co., was held at Shanghai on June 23rd, und lasted an hour and a-half.
Mr. Twentyman gave a lengthy explanation of the negotiations carried on by Mr. Prentice and himself, with the object of selling the company to a London syndicate. He referred to and commented on the letters addressed to the directors by certain shareholders, and showed that the holdig of an extraordinary meeting was not definitely requested, but was left to the directors' discretion, and then briefly sketched the history of the company.
On the report and accounts being lift open to discussion. Mr. F. E. Taylor ross and, in a lengthy speech, attacked Mr. Twentyman's policy, sketched the gradual diminution of profits during the last few years, anl commented on the fist that, where is the proits of the company had been on the decrease, the tonnage of vessels entering Shanghai had, since 1901, He sug- increased by nearly 100,000 tons gested that economy might be effected in the direction of the directors' salaries, which, he said, amounted to about Tis, 80,000 per annum. or at the present rate of exchange, over £10,000 a yea. He deplored the fact that many of the company's best employees had left and joinet rival oncerns. Mr. Taylor said it was deplorable that Shanghai's biggest in dustry, and the most important interest on the Yangtsz-, should be used as a huge machine for St ck Exchange gambling.
British
Mr. Twentyman replied to Mr. Taylor, in a speech which was several times interrupted, and the report and accounts having been passed by A minority of shareholders-most present abstaining from vo'ing-the meeting ended; and the extraordinary meeting for the recon- struction of the company was opene 1.
Mr. Twentyman made a long speech defining the objects of this reconstruction, but said he did not wish to force it on th› shareholders, and hat the directors would not care if it was not
tassed. The resolution was put to the meeting, but was not carried, as the requisite majority did pot vote in favour of it.-N.-C. Daily News.
THE NEW AMOY DOCK CO., LTD.
The report of the New Amoy Dock Co.. Ld., for 1904 shows a debt bilance in profit and loss account of $10,261. *This unfortunate result,"
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CHINA OVERLAND TRADE REPORT.
CORRESPONDENCE.
A QUESTION OF OFFICERS.
"
TO THE EDITOR OF THE DAILY PRE88
BIB, Kindly allow me through the me'íam of your columns to congratulate the gentlemen who have recently been appointed 2nd Lieu tenants in our Volunteer Curps.
But does it not seem strange that a junior sergeant and a more junior gunner should b promoted over the heads of many competent seniors? Of course, if those responsible for their selection can prove that they are more efficient, smarter, and more suitable than any of their seniors, th› matter will be explained, but that seems hardly probable.
The strength of the corps, 272 in December. 1904. as against an establishment of 426, seems bardly satisfactory, and with an expenditure of $44,032.13, equal to $161 83 per ma is rather The expense an expensive item to taxpayers. of the corps, of course, does not increase at the above rate, as the sam› staff, head quarters, &c. must be maintained for 250 as for 500 ani it is to be regretted that the corps is not up to or even over th full strength. The reason of such a small number is not far to seek, if such acts of apparn injustice recently prevalent euacted; and if such are con'inue the corps will bec me s small as to be not worth min-
are very
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As the
one
twining. The contention is that as ratepayers we should mete out justice but, at the same time hare best value for our money. Your &c.,
CITIZEN.
TO THE EDITOR OF THE
#1
Citizen's
" DAILY PRESS.
Hongkong 27th June, 1905. Sir, I was very pleasel to see letter re promotions in the Hongkong Volunteer Corps in yesterday's issue of your valuable paper. As an old Volunteer, I think the appointments of the Junior Sergeant and Gunner to the commissioned rank to be very unfair, which I have no doubt the majority, if not all, of the members who have ten years service and more in the Corps do not approve. The former has only be-n in the Corps a few years, and the latter is a new member ad only a gunner. As there are very miny much older members, why should they not be given a chance of a commission? There are still some guauers in the Corps who have had about ten years If one wants to become service if not more.
rate in this case.
up
a Commissioned Officer. what sort of an examination, if any, has he to go through? I the General Manager says, however disbelieve there is no examination it all; at auy
As I do not want to take appointing to shareholder, only instances, what should be always realised, that the nature of the company's business reiders fluctuating results inevitable. Du ing the year work has be n scarce, and not of a remunerative character."
NEWSPAPERS IN CHINA.
A FIELD FOR FOREIGN MATERIAL
The United States Consul at Hangohow cal's the attention of paper manufaolurer to the notable fact that this port. which is one of the paper-exporting poin's in China, and which his been the centre of a pape --making district for centuries, i imperting about two-thirds as much paper, in valu, as it exports.
About half the imported paper has been unsized and uncalendered news print of a grale similar, though rather inferior, to the paper s to newspapers in the United States, and about half has ben a gized light weight book paper of medium quality. The inferior aws p per has been coming from Japan. Both varieties have been brought in in sizes suitable for small newspaper and pamphlet
work.
The Consul is of opinion that the prices at whic' paper of good quality sells ar such that paper manuf cturers ought to be able to sell first-clas papr at a fair profit. The number of newspapers of all languag -s prin elin Chi-s is constantly increasing, and as the increase comes the inability of the natives to mana facture suitable paper in the required quantities
at reasonable rates will be some "mre and more apparent.
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any more of your valuable spice. I leave it to some other members (ld) to express their opinions. Yours etc.,
15 POUNDER..
TO THE EDITOR OF THE
DAILY PRESS.
Hongkong 28th June. SIR.I have reid with much interest the correspondence by “ Citizen" and 15 Pounder r the promotion of the Junior Segeant and the Qune and I endorse all their remarks, I don't think this is the correct way to do things. and this will only lead to men leaving the Corps. I think commissi ns should be granted only to men who have the longest service in the crps and according to their merit, anl before granting same the candidates should go in for a eximination bot practical and theoretical
would like 0 men ion & ca e in which at recruit who joined the oronation Conting at in 1902 was at once promoted to the rank of sergeant before the contingent left for home, and on his r tu u to the Colony he was again promoted and this time to the rank of lieuten ant. think this is a fin- pi ce of work, and if this is the way one gets promoted in the H.K.V C. there is hardly any hope of ever increas nz the number of mn in tu corps Buy greit extent.
to
With regard to increasing the number of men in the Corps up to about 50, the only inducem nt is to have a few infantry companies in addition to th present a tillery companies. For the last threyas the sole cause of the majority of men reigning from the corps was
the abandoning of the Machine Quu and Infantry Companies, which was a very aɑwise thing. It does not follow that every one likes to join an artillery company. I will not be a bit surprised to see the membership of the corps dwindle down to about 100 men in time to come. If the officers wish to see the numbers increase, they must please the mou or else it will be a failure so far as inorassing the number of men is concerned. I want tq know why the infantry company was wiped out. Is it useless to have an infantry company? Decidedly uot.-Yours etc.,
INFANTRY COMPANY.
TO THE EDITOR OF THE
DAILY PRESS.
Hongkong 29th June, 1905. 31, was very pleased, indeed, to read “15 Pounder's" letter as regards the promotions in the Hongkong Volunteer Corps. I am more pleased that a member has come forward to give vent to his feelings. The promotions of the junior sergeant an I gunner to a comm'ssið í rank is both unfair and unjust. These ge itle. mea have got the'r app intments through pare favouritism, which causes a lot of ill-feeling between the old members who have served the corps for a long perio l'anl have not even a stripe to show. I am sure it was not through practical knowledge of the art of guun ry that has won them this bir jump. If the spin- ments are not cancelled I am very much afraid that the Hongkong Volanter Corps will b minus a few more members. Why not have an examination. say once a year, so that every. on may have a chance of rising to a higher position? It would man, I am sure, the strong. thening the Hongkong Volunteer Corps anl a name worthy of the Kin and Country they Hoping, Mr. Editor, I have not taken up too much of your valuable spice. I remain, Yours etc.
serve.
LONG TOM.
TO THE EDITOR OF THE DAILY PRESS.
Hongkong, 23 h Jane.
SIR, --I notice in to-day's issue of you· paper that 17 Pounder "only invites corras ondenca from old members of the Corps, thinking, un doubt, that he will meet with least resistance from that quarter, since he evidently expects them to be a sore over it as he himself undoubtedly is. I may here state for his edifica tion (and I have it from very good_authority) that several old members of the Corps were offered the Commission, but preferred to remaiu in their present position.
It must be admitted that there are
more
qualifications than merely length of service required in a man of the rank and file to make him eligible for a higher position, and I am fully confident that the Sergeant and Gunner referred to iu "15 Pounder's letter will when the time comes, prove thems lves well worthy of His Excellency's Commission, both in efficiency and in commanding the respect due to them from their subordinates.
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Trusting this will not take up to much space in your valuable paper.—I remain, Yours. truly.
MAXIM.
CHINESE V. BRITISH JUSTICE.
The trial of the two Chinese for manslaughter caused quite a sensation at Weihaiwei. It was the first case to be tried in th High Court there At the end of the trial, after the accused had been sentenced to seven years penal sər- vi ude, the headman of the village in which the orime occurred asked to be allowed to address the judge. Permission having been granted. the headman entered a strong protest against the
►
leniency" of the sentence A life for a life was the law, he said. and he could not go to the village and say that the prisoners had only suffered imprisonment. His Lordship or- pressed regret that his sentence had not satisfied the headman, but reminded him that the case was tried under English law and that he could Under Chinese no! pa‹s a more severe sent -ncə.
law one of the prisoners would probably have suffered death by the lingehi process for parrici le-The two prisoner's are being oronght to Hongkong to undergo their sentenc) —N.-U.. Daily New