June 25, 1906.]
WEIHAIWEI GOLD MINES.
NOW FOR SALE.
We have never been optimistic about these gold mines; but we note that some present at the first general meeting of shareholders, held at Shanghai on June 12th, spoke with a touching confidence of the posibilities "if only they had more capital."
The Directors reported that all the capital had been spent on development, but "There still remains a vast amount of work to be accomplished before the possibilities of the mine can be proved. If the directors had started with a prospect only, they would not have recommended the commencement of actual milling on anything like the scale now in progress. But their hands were forced by the fact of the actual installation of a full 20-stamp mill plent which was deteriorating by lying idle and the fact that available funds were being rapidly exhausted and it was imperative
to obtain revenue from the mine. The directors regret to report a loss on the first few months working, which has arisen through a variety of causes, some of which may be briefly stated.
1. The machinery has required repairs which were not apparent till after actual working, and which, besides involving expenditure,necessitated the shutting down of the mill for some days.
2. The excessive cost of local supplies. The company's finances have not permitted direct importation in large quantities so as to obtain the best returns; as an instance, the item of dynamite may be cited. The company has had to pay £135 per ton, which is more than double the cost under favourable circumstances.
3. Insufficient equipment to allow the laying down of materials and carting away of con centrates at the best rates. A small tramway would effect a considerable saving in this direction. Again, the mill is not the one best suited to treat ores such as are found in our property, which are rich in concentrates and do not yield a high percentage of free gold. Further additions should be added to the mill in order to obtain the returns from the plant.
4. The expense of handling and shipping con- centrates, which consumes half their value. A plant to treat the concentrates on the ground is required.
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5. A temporary shortage of labour which has arrested all development work and necessitated a partial stoppage of the mill. The directors hope they are now near the end of this first labout difficulty."-
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- They asked for patience and more capital. It was a low grade proposition which required large volumes of ore for successful operation, and the best org was widening as they descended. Whether these large bodies of ore exist or not remains to be shown.' Further expenditure of $200,000 to $250,000 was necessary to demon. strate its value. They should therefore either "ante up" or sell to a larger company. They could ran the mine for six months more on what they had already extracted; but that was also an offset to the overdraft of 820,000. They did not wish to call up the remaining dollar on the shares, but if the shareholders were pre pared to put up $200,000, a big success and great dividends could be hoped for."
The shareholders authorised the directors to dispose of the property. [We learn to-day, 25th, that the remaining dollar on the shares is to be called for.] ·
CHINA OVERLAND TRADE REPORT.
CHINO-AUSTRALIAN TRADE.
WHAT MIGHT HAVE BEEN: CHINESE CONSULS
WEAK.
Supplementing our summarised report of the complimentary banquet to Mr. Frederic Jones, Queensland Government Commissioner, and Mr. Cha Wun-man Chinese Secretary of the Mexican Consulate, by the Guild of Austra lian, American and Canadian Merchants, we append, as promised last week, a note of some of the speeches.
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wanted was stronger consular representation abroad. It was their weak and shifting represen- tatives to whom considerable blame was attached. His anditora were men with weight and they must see to this.
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Mr. Cha Wan-man expressed the honour he felt at being associated with the Anstralian Commissioner in that' prhaps one of the most important meetings of South Chinese traders that had yet (aken place in the city of Hong- kong. Speaking as a merchant and a trader with interests in Aust alia like the most of them present, he said he had felt, as they also had The speaker responsible for the toast of felt, that it was not only humiliating but also a the evening said Mr. Jones' mission was most curious proposal on the part of the to push the products of Australia into the Australian people that they should have free markets of China. He was well backed by his access to the shores of China and endeavour to Government, with the result that his first and supply then with their goods, and to reap every second year's visits have been a success to the advantage that was to be derived from trade extent of deciding on the permanency of his whilst at the same time if he or any of them appointment in the East. In congratulating desired to visit Australia to consider the basi- the Queensland Government in the choice of ness interests which they had there, the door their representative the speaker thought they was slammed in their face. It was more thaản might congratulate th mselves, as Mr. Jones two years ago since he had the honour of per. was also a friend of China and the Chinese. sonally knowing the Australian Ambassador. His last achievement was the modification he In discussing that matter with himself, he had been able to oblain on the Australian expressed his, determination to obtain à modifi. Chinese Immigration Restriction Laws. As a cation of the Australian Immigration Laws result of Mr. Jones' efforts, certificates of They all know from their countrymen in exemption from the provisions of those laws Australia how difficult was the question. In a were now granted to Asiatics wishing to travel correspondence with the Brisbine newspapers and visit Australia. What Mr. Jones had done last year he said that men of their class must be had been to a great extent due to the repre-admitted. He had toll Mr. Jones that other- He (Mr. Jones) sentations made to him by Mr. Cha Wan wise a boycott would come.
had always been to the fore laughed and said, Wan Man, boycott you man, who
Chinese must not; you keep still. I will get you the where the vital interests of the
Fo it was he who had fulfil'ed were concerned. Mr. Chu was well aware that magic ticket." in order to establish a permanent and increas- his promise. He had saved the disastrous con- ing trade between China and Australia it was sequences of an industrial conflict with Australia, absolutely necessary that bona fide Chinese because as surely as there are the moon and the merchants must be permitted free access to the stars and the sun so surely would they have great Continent of the Southern Cross in order insisted upon their rights. that they might better study on the spot the numerous and valuable products of the land | suitable to the great markets of China. This was now an accomplished fact and their thanks were due to Mr. Chu Wun-man. Mr. Jones, in responding to the toast of his health, said he took it, not as a personal matter, but that as a ser- want of the Government they were making him a medium for their expression of friendship and goodwill to the Australian people. After referring to the part which the Chinese were taking in the Straits Settlements, he said that frade governed the world, and those present that night were born traders. To buy and to sell was the marrow of their bone. It was good to contemplate that their commercial integrity was of such a high order. It was because the world recognizes that China was perhaps the greatest open market of the day that the future progress and development of their country was considered of such moment. He bad told the people of Australia that the Chinese market would absorb every possible surplus production of theirs for many years to come. He also impressed them with the necessity of supplying the Chinese requirements exactly as they desired. He told them that the Chinaman fully under stood his actual business and that it was not for them to criticise but to follow instruc- tion.
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Therefore, with, the knowledge that China would probably be one of Australia's most important customers, and because his Government had commissioned him to promote trade between them, when representations con- ceruing the exclusion of the Chinese from Australia were made to him he gave the same NEW SHIPYARDS FOR SHANGHAI is most earnest attention. It was not for him
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MORE JAPANESE COMPETITION.
There seems to be no end to the enterprise of our neighbours and allies. Mr. Matsugata, the President of the Kawasaki Dockyard Co, is said to have stated to an interviewer that the Company desires to obtain shipbuilding orders from China, Sirm, and all the other Oriental countries. With this view it is purchasing about ten thousand tsubo of land at Shanghai and Pootung for the purposes of shipbuilding and repairing, with especial relation to the shipping at Shanghai and on the Yangtze. At first only repairs will be undertaken there, and eventually a dockyard on a large scale. will be developed. Extensions of the Com pany's property are also in progress at Kobe, in consequence of the increasing size of the vessels constructed in the dockyard there.
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to discuss the laws of Australian Governments. But when he saw injustice and anomalies, when loss of trade was threatened, and when a people with whom he was endeavouring to buy and sell made complaint, then, if without infringing the tosin principles of the law (and they could take it from him that the Australian Immigra tion Restriction Acts were on their statutes for good), it was possible for him to remove friction and round off the corners of prejudice, it was his bounden daty to help and assist in so doing. But they must remember that these Acts were not directed against the Chinese alone, se in Americs, but that they applied to all Asiatics, even if British born. So that when he understood that oprtain exemptions were made to other people be insisted that whatever was granted to others must he conceded to the Chinaman. The one great thing that China"
GRUESOME CEREMONY IN CHINA. ·
AN ANCIENT CUSTOM.
On May 31st it is said there was a most unusual so ne at the village of Chen Ju, situst- ed half-way between Naziang and Shanghai. Magistrates, prefects and a large gathering of officials, together with their retainers, attended a most unique ceremony. The story leading up to the occasion, says the Shanghai Times, is as follows:-Some three years ago a Chinese woman became jealous of her husband, who purchased a concubine, and in consequence strangled him and cut the body into pieces. The husband's relations asked for an inquest by the magistrate of the district. The murderess
and her relations, it is alleged, then bribed the magistrate to give a verdict of death from natural causes. This was done and the man was buried in the usual way. For three years past the murdered man's relations kept petitioning for the re-opening of the inquest, and at last obtained the necessary authority from Peking.
Thursday, May 31st, saw the first step with regard to the re-opening, when the body was exhumed and the remains boile l inu samshu, in
acordance with the native belief that this would prove whether or not d ceased was the victim of foul play. The functions commence.l at 3 p.m. and lasted well into the evening. It is said that this ceremony of erhyming a native body for examination has not beù performed in China for over 500 years, consequently there native was a very large gathering of spectators besides foreigners, many of the latter with cameras, on the scene.
SHIPPING COMPETITION.
Tek EN AND
NO JAPANESE ALLIANCE NOW.
Those who know the history of local shipping. of how first the Japanese made overtures to a Hongong firm and were almost scornfully denied, will be interested by the following quota. tion, which seems to indicate that in some quarters the tables are turning.
The Asahi reports that with regard to the N. Y. K. v. Butterfield and Swire competition on the Shanghai line, the latter firm has pro- posed to the Japanese steamship company mutually to fix their rates and "pool" their carryings, bat the N. Y, K. has rejected the proposal and decided to continue competition.