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the port, how could they get it. Without fear of contradiction he said that they had done considerably more than the other people; and ships did not go past them so much now. Mr. Phillips had spoken about the Yangtsepoo Dock. He considered that they had a great deal of courage to build such a dock when the Dock and Engineering Co.'s docks were empty for half the year. Before saying that it was a great success Mr. Phillips should wait until the end of the year.
success.
Mr. PHILLIPS-I hardly said it was a great
I said "started successfully." The CHAIRMAN said that, with reference to the four tugs, their tender was cut out because they had not sufficient freeboard. The specifica- tion gave no freeboard and no beam.
If they had been treated as the Kiangnan Dock was treated, they would have been told:-
:--" You have put too little freeboard; give us six inches more freeboard." Forty-five tenders were gent in and their price was fifth or sixth. Some of the tenders were cut out because they were too narrow, others too wide, although according to specification draft and speed were guaranteed. As to the Taikoo Dock they could not feel the influence of that dock more this year than they did last, because most of the ships did dock in the South. If trade revived -they know that trade had been very bad and people were not putting in ships to dock this year-they would get their share of it. As regarded the management, they made a sugges- tion to shareholders that au expert should be got out from Home to give a report on the whole concern. Mr. Phillips had asked why they did not launch out in the direction of railway material. They tendered for the bridges on the Tientsin-Pukou Railway and their's was fifth or sixth. It was a big contract. They did a good deal of constructional work. He did not think that it would pay anyone out here to go in for wagon making, but they could makes wheels or axles by hydraulic pressure and they were just as far ahead in this as anyone else. Did Mr. Phillips suggest that they should go in for locomotive building ?
Mr. PHILLIPS said that he did not think that. But railway wagons were sent out here to be made up.
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THE HONGKONG WEEKLY PRESS AND
Wake up. ! The business had been dwind | ling since the liquidation, at which time he was told that if certain things were not done the business would dwindle, and the words of the man who said this were coming true.
The CHAIRMAN--We have waked up; in fact we have never been asleep. (Laughter.) If any of our shareholders will tell us where the work is we will get it.
Mr. Hoad-It is not for us to tell you, it is for you to get it.
Mr. KING said that he had a good deal to do with the obtaining of the tender for the Haiho boats and they sent a man there to see the cou› ditions on the bar. They did not get any further facilities or opportunities than the Dock Co.
The CHAIRMAN The meeting decides not to have an expert out from Home. As there were no further remarks the following resolution was put:
Proposed by the CHAIRMAN, seconded by Mr. MARSHALL: That the Directors' report and statement of accounts made up to April 30 last as presented and circulated be adopted and passed, and the Directors be authorized to pay a final dividend at the rate of Tls. 2.50 per share to the shareholders on the register at date.-- This was carried.
The following resolutions were then put and carried nem, con. :
Proposed by Mr. CRADDOCK, secunded by Mr. HUTCHINSON: That the election of Mr. H. J. Craig as Director of the Company be confirmed.
Proposed by Mr. YOUNG, seconded: by Mr. ROBERTSON :-That Messrs. D. Landale, J. Prentice and H. A. J. Macray be re-elected Directors of the Company.
Proposed by Mr. Hogg, seconded by Mr. WEIR: That Messrs. J. E. Bingham and F. N. Mat- thews be elected auditors of the Company for the current year.
A vote of thanks to the Chairman. proposed by Mr. Young, concluded the meeting. N.-C. Daily News.
THE WHITE WAX OF CHINA.
In his work, "Three Years in Western China," The CHAIRMAN said that they could easily Sir A. Hosie takes the opportunity of recapitulat. do that, but did not get an opportunity. All ing and extending his observations on the pro. these wagons were put up by the railway people. duction of White Wax in Szechuen, which had If there was anything going they were after it already appeared in a supplementary Bluebook of that he could assure the shareholders. The published in 1885. As the investigation, of expert from home would cost £1,200 to £1,500, which these observations are the outcome, was and it was for shareholders to say whether they specially undertaken at the instance of the Kew wanted to spent that money or not. The Dires-authorities, we may be sure that Sir A. Hosie's tors were quite satisfied, but it was for the shareholders to decide.
Mr. PHILLIPS said that he would like someone else to speak on that. Probably an expert com- ing out here would be completely unacquainted with local conditions.
entomological and botanical identifications are as trustworthy as modern science can make them and that, in chapter XI. of his travels, we have what must be, for, all practical purposes, the last word on a subject which has long excited the ardent curiosity of botanists in Europe.
The CHAIRMAN said that they proposed to get out the same sort of man as they got outed, is in its way a unique production, being the for Hongkong.
Mr. KING said that if an expert like that was to come out and report on this property he would ruin it. He would look at it from the point of view of one accustomed to modern machinery and modern shipyards, and if such an expert should report of this company he would ruin it. The CHAIRMAN said that they had a Mr. Lane up the other day.
Mr. CRAIG said that Mr. Lane did not enter into the question of the management at all. He spoke very highly of the stock, its usefulness and value. He also spoke very highly on the shops and yards. As to work there was no work for him to see.
Mr. KING replied that he knew Mr. Lane and he was not accustomed to new things like the man about whom Mr. Prentice spoke.
The CHAIRMAN-I don't suppose we are equal to John Brown and Co.,
Mr. HOGG was of opinion that it was inexpedient to have such an expert out from home. Reform did not begin at that end. This enterprise needed to wake up and what was required was that business should be sought which did not come without seeking. The Chairman had harped on shipping, shipping. shipping, which came into the dock and sought to be docked. They had to look for business when shipping did not come to them. Such business existed and he emphasized the words of Mr. Phillips and told them to Wake up,
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The inseel wax of China, it should be premis
only variety of wax actually excreted by an animal. Spermaceti, which indeed it resembles greatly in appearance, bears the greatest affinity to it in this respect; but it is found in the head of the sperm whale and is in no sense an excretion. In chemical nomenclature, spermaceti is generally termed a cetylate of oxide of cetyl, while White Wax is defined as a ceryl cerolate, but this subtle differentiation will hardly appeal to the unscientific mind. It is observed by Sir A. Hosie that the
Wax Insect, Coccus Pe-la, Westwood, during the thirteen days of its active existence, must derive its nourishment from the sap of the tree on which it lives, but to the unaided eye there is no visible impression on leaves or bark.¦ From the absence of any such mark, the Chinese declare that the insects live on dew, and that the wax perspires from their bodies." From this it appears tolerably certain that the wax is actually produced from the resources of the insects internal economy and not manufactured indirectly from vegetable tissue. It cannot, therefore be compared with the only other familiar insect wax, viz., that supplied by the bee which. it is well known, is elaborated from plants or from sugar. Nor, as we have seeu, can the wax insect be said to derive the substance from the tree, or trees, which it frequents, and its wax, is therefore, different in kind from the waxes which various trees produce, such as the War-palm of Peru, the
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(July 19, 1909.
Carnahaba palm of Brazil; the Wax-Myrtle of America and South Africa, and the familiar Tallow tree. At the same time, though there is no evidence to show that the Wax Insect secretes its wax either from the Frazinus Chinensis or from the Ligustrum lucidum, which form its abode in maturity and youth,' it is noteworthy that both these trees belong to the Natural Order Oleace, which includes likewise the oil-producing olive. The coin. cidence can hardly be entirely fortuitous.- Foochow Echo.
CHINESE MOHAMMEDANS.
REPORTED' REBELLION.
A Mohammedan rising is reported to have broken out in the province of Shensi. The N.-C. Daily News has been shown a letter received in the Shanghai last week from Sinanfu, on envelope of which was the following:-In Kansu famine threatening, Mohammedans are making desultory attempts at rebellion and Sowerby of Clarke's party cannot sally out from Lanchou. Yenanfu, Suitechou, Mitsuhsien and Yulinfu in rebellion and besieged, Special military Taotai
sout from Sinanfu in haste.
It would appear. from the above message that a rebellion has broken out in the north of the
province of Shensi and that attempts are being made by thu Mohammedans of Kansu to raise the standard of revolt in the region of the capital of that province.
A telegram to the Mainichi dated Peking, June 28, states that in the course of last year Mr. Clarke, President of the American Geo- the Chinese graphical Association, entered North-western provinces with a party of seven Englishmen and Germans on an exploring expedition, having previously obtained certain privileges from the Peking Government through the American Minister. On June 21, one of the members of the party, Mr. Shijinari (?) was killed by natives at Anting; Kansu. Mr. Sowerby, an Englishman, was also attacked, but was rescued on the following day.
We understand that Mr. Clarke who organiz- ed the expedition referred to, is an American millionare and is a member of several of the
leading science and art societies of the United organized and equipped, included Englishmen, States of America. The party, which was well
Germans and some Indians. One report states that it was an Indian who was killed at Anting. When this trouble was settled the party apparently continued the journby as far as the capital of Kansu, which place they were unable`
to leave on account of the disturbed condition of the country. It is known that Mr. Sowerby, who is a naturalist, was with the expedition. The report to the effect that he was wounded at tioned in the postscript of the letter are in the Anting is unconfirmed. The four towns men-
extreme north of Shensi, between the provinces of Kansu and Shansi.
CHINA'S CREDIT.
A BRITISH LOAN OF £50,000,000 OFFERED.
We reproduce the following from the Peking Daily News:-
That the credit of the Empire has not suffer. ed any depreciation in consequence of the warnings recently uttered by the correspond ent of The Times is evident by the fact that among other signs of increasing confidence a proposition has been submitted to the Prince Regent by a group of British financiers, whose representative is now in Poking, offering a loan of fifty million pounds sterling without any specific security beyond the general guarantee of the Government, and on excep. tionally favourable terms.
The conditions are that the proceeds of this loan shall be applied to the re-organization of the uary, the construction of railways, the reform of the national currency and the de- velopment of mineral resources, industry and agriculture.
We are informed that this proposal is highly appreciated by the Prince Regent and the Gov- ernment Officials, and that it is seriously occupying their attention at the present time.