་་
November 26, 1906.]
or on any portion thereof in the name of the whole and thereupon the same shall be forfeited to and vest in the Crown.”
Should the purchaser fail to comply with the condition, the Crown may either enforce the sale or re-sell the property, and should there be any increase in the premium or purchase money at the re-sals that increase will be retained by the Crown, but if there is a de ficiency the defaulter must pay the difference.
If at the end of one month from 16th Novem
ber the Governor-in-Council shall declare it expedient to grant a lease of the lot then the sale will be proceeded with.
CHINA OVERLAND TRADE REPORT.
COMPANIES,
DAIRY FARM COMPANY, LTD.
365
2,000 bales yarn in stock not paid for, which, considering the state of the market, is not unsatisfactory. Russo-Chin se Bank. Our indebtedness to the Bank on September 30th was
holders of the Dairy Farm Company, Ltd., was The tenth ordinary yearly mesting of share-
Tls. 13,00 more than a year ago: this is of course a counted for by heavy stook of yarn. held yesterday morning at the depot. 2 Lower
It is to be noted that we have two accounts with Albert Road. There were present Hon. Mr.
the Bank-a fixed loan of Tls. 250,000; and E. Osborne (chairman), Dr. J. W. Noble, Mr.
a current account with a credit balance on- F. Maitland, Mr. F. H. Hinds, directors. September 30th of 11s. 56,556,09 Dividend.- J. H. Seth, Mr. Chan Tong. Mr. S. A. Seth,reditors and amount due Rasso-Chinese Bank, Our Liquid Assets (Stocks and D_Trust Fund), Captain. Tillett. Mr. T. M. Gregory, Mr.
--less Debentures to be paid off-suadry secretary, and Mr. A. Stevenson. Manager.
The Secretary hazing read the notice concen.
Special conditions set forth that the purchasering the meeting, will, subject to the written approval of the Director of Public Works, be permitted to remore earth from Crown Ind in the vicinity for the purpose of reclamation of the lot. The actual area of the lot to be determined before the issue of the rown lease and premium and Crown rent adjusted in proportion to the areas and according to the amounts at which the lot
was sold.
HONGKONG'S NEW G. O. C.
The appointment of Brigadier-General R. G. Broadwood, C.B., from the Orange River Colony, to the South China command, seems to have attracted mere attention than is nenalle given to the local post.
The idea seems to be that such a good man will be thrown away at Hongkong, which of course we cannot admit for an instant. The suggestion that as a cavalryman he will be ont of place is a far-fetched one. His excellent cavalry work in Egypt and South Africa promises a few useful hints for the Happy Valley Hussars, and possibly for the hanini Light Horse; and his gifts that wy are unlikely to have rusted by the time they may be wanted again elsewhere. It is a poor compliment to suggest that he cannot do as good work in other details of the service Major-General Broadwood, as he must now be called, will find
that his promotion does not entail exile in insupportable surroundings. We append an extract relating to his career : The gallant Brigadier is an ex-officer of the 12th Royal Lancers, in which he passed his regimental service from 1881 till 1893. He has filled various important staff appointments, and he has bad the advantage of having seen a good deal of active service in four campaigns. Whilst attached to the Egyptian Army he went through the Dongola Expedition, 1896 (mentioned in despatches brevet lieutenant-colonelcy, Egyptian medal with two clasps, British medal); Nile Expedition, 1897, the actions of Abn Ahmed and occupation of Berber (two clasps, 4th class Osmanieh); Nile Expedition, 1898, including
the battles of Atabara and Khartoum (menti n- ed twice in despatches, two clasps, and British medal brevet colonelcy); and in the South African war be commauded with conspicuous success the 2nd South African Light Horse. and also served on the Staff (mentioned five times in despatches, A.D.C. to the Sovereign, Queen's medal with six clasps, King's medal with two clasps). He took ever command in O.R.C. in May, 1904.
"HEUNGSHAN
REFLOATED,
At last the Heungshan has been refloated. For practically two months she has lain on the rocks on which she stranded during the memor able typhoon, and although for fully a month her owners have had a big staff engaged trying to get her off, their efforts did not meet with success until on November 17th when there was an exceptionally high t de. She was towed by the Protector to Hongkong about midday and was afterwards taken to the Kowloon Dock for repair. In a short time the Hongkoug, Canton, and Macao Steam boat Company, who have suffe ed very severely, will have their fleet on the run again.
|
has
leaves a credit balance of Tls. 51,699 75. The dividend proposed will absorb Tls, 50.304. 80 The CHAIRMAN siid ti. utlemen, The that we have practically no working capital Report nud Accounts Irving been in vene
exeapt borrowed money and while this is a great hands for some days. I will, with your per-
improvement on last year it still leaves much to mission, take them as read. Your Directors
he desired and shows the necessity of building are again in the pleasant position of being abl-up our reserve fund. Debentures stand at Tls. to lay before you a satisfactory report but it
1950 000 or deducting Trust Fnal of Tis. must not be overlooke that the absenes of 15,379.91, at Tls, 61,620,09; the corresponding serious disease amongst our eat during the figures for 1905 were The 134,000 less Tls. past four years accounts largely for the profits 37.50), a balane of Tis. 9,400; the figures that have been made and to the Company's for this year showing & decrease of Th. sound position to-day. Our policy of importing
34.77991. As you will no don't have observed only first class animals has proved eminently
from the report, your Directors propose to pay satisfactory, the picked herd we now have,
off the remainder on March 30th next; it only giving more and a better quality of milk at no
requires somo TR. 10,000 more than the extra cost than would be the case with cheaper Trustees will have in hand to effect this desir steck Duing the past ar their milk rillable consuium divx, MI-Work has been
exe det ad previous records and I am
circled on steid ly during the year, and your pleased to say shows signs of still farther Directors are pleased to record their satisfaction improvement. Our subsidiary businesses have
at the way in which the foreign Staff have also assisted to swell the year's profits to
carried out their duties-not omitting our able a considerable extent and the prospects for secretary, Mr. Wuilleumier; the quality of our the coming year in these departments.
yarn has been well maintained and production especially the frozen food are
increased. aging thau thy wore a year ago, mend the payment of 2
sightly larger dividend than last year, als the transfer of $25,000 to Cattle Reserve, as we e›gsidor the stealy augmentation of this Fund to bessential to the parman ut success of a business such as ours and we have no doubt this policy will be endorsed by shareholders. There are no further remarks that I can usefully add, but before proposing the ad ption of the Report and Accompl I shall be pleased to answer any questions that any shareholder may wish task.
An unusual accident happened to a scavenging coolie near Ship Street on November 17th. He went down into a sewer carrying a lighted lamp, when suddenly there was au inrush of gas which was lighted by the lamp. The coolie who was severely burned, was removed to the Government Civil Hospital.
nere ene mr-
We recoin
Tuere being no questions the report was adopted on the motion of the CHAIRMAN, seconded by Cop'ain TILLETT.
Mr. GREGORY proposed, and Mr. J. H. SETH seconde, the re-appointment of the Hon. Mr. Osborne and Dr. Noble as directors. Carried.
Ou the motion of Mr. STEVENSON, seconded by Captain Pillett, Mr. W. Hutton Potts was re-elected auditor.
for V u
your
The CHAIRMAN—Thank attendance, gentlemen. Dividend warrauts will he ready t∙ morrow.
THE INTERNATIONAL COTTON CO., L1.
Your
The eleventh annual meeting of this Com- pany was held at Shanghai on November 14th.
The Chairman, It is with no little pleasure that your Directors-especially the old members of the Board - are able to place such a favour- able report before you. Interest you will be glad to note is some [ls. 8,0 less than previous year, and although at times we have to carry heavy (sometimes very heavy) sineks of cotton and yarn, we may hope, as our financial position improves, to see this item still further reduced Working Account: The balance at the credit of this account is Tls. 52,00 more than anything we have ever before shown and fully bears out the favourable anticipations of last year. Directors trust that you will approve of the The amounts recom- proposed disposal thereof. mended to le written off for depreciation may appear large, but are not really so; our plant and machinery for instance will stand closed on Tls. 50,000 more than it would had a steady 5 per cent been written off, and Chinese houses, as you know, deteriorate rapidly Reserve Fund. -You will, I am sure, approve of the building up of this fund we hope soou to see it exceed the sum written off in reduction of capital in 190. Stock of cotton carried is less by Tls 38,000 than at the end of the previous year, but that of yarn is no less than Tls. 225,00 more. and this, although all our production is sold for another two months, at present we have only
-
With others, the following resolutions were carried unanimously :
Proposed by the Chairman, se conded by Mr Seaman: That the report and accounts for the year ending September 3uth, 1906 as presented be accepted and passed.
Proposed by the Chairmau, seconded by Mr. Ibarg: That a dividend at the rate of 8 por cent, or Tls. 6 per share, for the year ending September 30th, 1900, be paid to shareholders.
CORRESPONDENCE.
*
TO THE EDITOR OF THE DAILY PRESS,'
POSTAGE AT HONGKONG AND
SINGAPORE.
Hongkong, November 22nd. Sir, According to the latest shipping returns, Hongkong stands as the first shipping port in the world; but, in matters postal, it is a long way behind.
At Singapore, for instance, the rite of postage on printed papers of all kinds to any place (vide Straits Postal Guide) is one cent for two ounces, while in this place we have to pay two cents to mail each circular of less than two ounces to the South British port. Are we in a sleeping Colony?
Manila is supposed to be one of the dearest places to live in, in East Asia, but there the Bureau of Posts can manage at foreign postage rates to forward prints at 1 peso cent (about .089 Hongkong cent for 2 ounces to Great Britain, Na al, the West Indies, &o., and in this are taxed 2 cents for go-ahead place, w storekeeper's circular to, say, Borneo, the noirest British Possessipu. Yours, &c.,
TRADER
INDIANS WARNED OFF VANCOUVER.
A telegram from the Secretary of State, London, to the Governor, Hongkong, dated November 15th says:-The Governor-General of Canada requests me to send you the following message:—
Some 2,000 people from Northern India have arrived at Vancouver during the past reason who doubtless came under misrepresentation, as they are not suitable for the climate and there is not sufficient field for their employment. Many of them are in danger of becoming a public charge and thus subject to deportation under the law of Canada. Please give public notifi. cation and information to this effect to deter further movement. The India Office has been informed".