Page
THE HONGKONG, DAILY PRESS. WEDNESDAL, AUGUST 7TH TELU
Hongkong, 17th August
The Board of Directors, Hongkong Hotel Co.,
Ltd.
この
"Dear Sira-We understand that it is your intention to declare an Interim Dividend of $4 at the meeting rd the shareholders covered for the 28th inst. Taking into consideration the appreciation in the value of land conjoint ly with that of building materials, we do not deem it necessary for the Company to set side large amas of money for reserve or depreciation, and therefore request that you will see your way to increase the dividend to $5.
We are, dear sira,"
Yours faithfully."
Mr. Sharp them addressed the court on behalf of Captain Raymond. He said that about the first of December last year Captain Raymond was introduced to Lichauco by Lichauco's brother with a view to his taking two launches to Mauila. The outcome of this introduction was that a verbal arrangement was coine to between Lichanes and the Captain, the latter being order- d to prepare the Patrie for so, he himself to go on ward to take charge. On the 25th December Lichauco (old him to engage a crow, and he did so. Stones were also put on board. Subsequently the launch was inspected by the parties and a written agreement siguel, Mrs, Lichanco's name being put in. Raymond It on board 8210 worth of céal and the crow
half
[Here follow 35 signatures.Į Wages, were put on board and pai
15 boing given to them and 857 expand Now, gentlemen, we fully appreciate the in rul in their food; 2300 wa advanced to Raymond for expenses and also to pay off portance of this communication, sigued as it is some debts of his. About the 5th or Gth of by so large a proportion of the shareholders. January the Captain vant up to the American But I ate that it was written before the ap. pearance of the Report, and I cannot help Consulate for a clearanco paper, but one was rofuzed his. Lichance also want and was na-thinking that, with a fuller understanding of
1 nocessful. The Captain was willing to take the the position of the Company, many of those launches now and would go to-day if he had signature would not have been appended, and the papers. He would have made about $1,100 possibly the latter might not have been written ut all. I hope that all of you have the perman- ent of the transaction, and would have com platal the job by the end of January. By eut good of the Company at heart, and that you during his rather than adopt the vicious policy of squeezing the last cent out of it lu dividends,
andrenewals ofraserrefund. Seeing that $15,000 was transferred as per last report, if we now ant aside $10.000 ample provision will be nude under this heading. Now, gentlemen, $10,000 furniture, 33,000 repairs, 4,000 reserve less than recommended in the report give us an ed ditional $18.000 or 81.50 per share more for dividend which might be distributed as dividend, making it $54 instead of 84 as recommended in the report. I therefore be to suggest that the balance of 804,794.71 bo appropriated as follows
To pay
a dívidend of $5.50 per skarð absorling.
To write off from value of Farniture and Fittings.
To setaside for repairs and renewals, To addition to reserve fund, ... To carry forward to now account,
AALIA
the Directors to pay a larger dividond than they consider prulent on the ground that they (the gustories to the letter) do not deem it neces sary for the company to set anida large sums of like to point out to the gentlemen present how money for reserve or depreciation, I would much has been spent on Furniture and Fixtures off to partially during the past throw years and how much will have been written meet that expandituo during the period, provided the suggested patting aside of $20,000 for the half-year of 30th Jane Inst be agreed to. I will read to you the figures:-- Amount written off
Cost of additions to repairs to Farni- ture & Fixtares. 800.528.74 1,701.13 14.287.29
$66,000.00
from Furniture 10,000.00
and Fixtures. 7,000.00 31 Dec. 180710,000 ... 10,000,000 June 1808.....10,000
1,794.71 31 Dec. 1898
30 Jeno 1890. 04,701 71 31 Dec. 1809. 30 Juus 1900
Mr. CRUICKSHANK-I have much pleasure in endorsing the remarks Mr. Veitch has let fall. I notice that the directors say in their report that the wear and tear, consequent on the increase in the company's business, renders it necessary to make ample provision for deprecia- over, owing to the general rise in prices for tion in the farniture and fixtures, which, more- higler guro." It appears to me that we have spent during the last two years $99,000, or we should be justified in patting the apprecia- tion being put against the appreciation would tou against the depreciation, and this precis bring the thing up very much on the same level. The sum of $20,000 seams me to be
8.440 ......15.604 .13.090 20,000
$78.449
equal to $26,146 per
BRUDER.
20,239,99
38,21474 26,818.70
$331.850,68 equal to $43,950 por spam.
SANDAKAN NOTES.
(PROM OUR CORLESPONDENT.)
Sandakan, 21st August.
THE CARRIER SERVICE. Our local currziórs—the Sabalt S. S. Co., Ld., are paying the satisfactory dividend of 12 per cent. for the year ending 30th June last. This Company has thres steamers now and intends buying or building another suitable craft with- out delay.
WHARF REPAIR AT LAST!
It will be good nown to those interested to hear that the Sandakan Wharf is at last to be renewed; a contract for part of this work has been given out, and the material of the new structuro is to be the famous Bornee Billian
wood.
BORNEO REJOICING OVER TEXING'S RELIEF. There is grout jubilation here to-day, the news of the relief of the Peking Legutions-- with, presumably, all the Ministers and their families and staffs safe-having como quite un-
waiting for these two launches be last a ich would prefer to see it placed on a solid and en- manufactured goods, can only be replaced at 1 of $52,410,88 has, during three years, been spentexpectedly. That this may mean a speedy,
of taking a launch to Manila witch would have pat 8700 in his pocket:
Captain Raymond then gave evidency in corro- boration of his counsel's statement,
Long Tai Shun, who described himself as a broker to get sailors," said he remembered Captain Raymond coming to him on the 25th
Daceraber last und ordering him to get some ion on board the launch by the 27th The crow remained on board from the 7th December to the 27th January. During that time he paid the crew $135 as wages and paid $57 for their food. Captain Raymond paid him this money; He was present with Captain Raymond and others at an inspection of the Patrie on the 4th January. There were present Captain Bay mond, Mr. and Mrs. Lichance, Marti, and him aelf. When he reached the Pairie he found the orew still on the lunch anil stores were on board and the launch was ready to proceed. He heard the captain say they would go soon, and Lichauco and the ship would go soon-in two or three days.
Mr. Sharp again addressed the court at some length on behalf of Captain Raymond. He pointed out that the agreement of the 4th of January was merely a repetition of a verbal agreement previously come to hetween Lichance and Raymond, on the strength of which Captain
I so you have not overlooked the fact that this roughly $100,000 in new stock, and I consider amount which will have been pat aside to meet | amicable settlement, which, however, mast su
in the interim and not the fiual dividend we Sre dealing with, but I would remind you that you' cannot eat your cake and have it. If you take now it is not likely that you will get these for the final dividend. Let us tirat see how the your pausout beforeincreasing the dividend. Our correspondents ask us to take into consideration
excursive.
Mr. MORRI-Mr. Chairman, I support this proposition of Mr. Veitch's. I should like to ask what you have done with the reclaimed ground. I understand that it has been sold at 20 foot. You made me referenea to it in The CHAILMAN-The reclamation in front your spesch. of the Hotel has not been disposed of. alluding to a smaller piece, the corner lot on Chater Road. That has been disposed of, but it is a more trifle of some 650 foot.
You're
Mr. MORRIS-It is a mere trio of $12,000. If we look upon those things as trifloe we may say that in asking for an increase in the dividend
we are but asking for a trifle.
The CHAIRMAN That amout belongs to capital. This transaction relates to the current half year. There being no further questions I propose the adoption of the report.
Raymond purchased stores, eto, employed a crew, for dividenda when perhaps profits have, by position by Mr. Veitch should be pat?
and incurred other expouses bofere the agree meat was sigued. The Captain's claim for 500 included $245 as payment for his own services. Mr. Slade also addressed the court again. The Acting Puise Judge roserved his
docision.
THE HONGKONG HOTEL
COMPANY, LIMITED.
The ordinary half-yearly meeting of share holders in the above company was held at noon yesterday in the Hotel. Mr. R. C. Wilcox pre- ided and there were also prosent Meers. E. Osborne, W. Parfitt (directors), G. M. Buiu, V. H. Deacon J. E. Gomes, Erich Georg. A. A. Guttierrez, W. Hutton Potia, F. Henderson, J. H. Cox, Harry Humphreys. R. Hutton Potts, W. A. Cruickshank, C. N. Young, N. G. Evans, T. F. Hough, A. C. Van Nierop, A. H. Skelton, A. G. Morris, C. J. Gonsalves, G. C. Moxon, 8. Rustemjou, G. T. Veitch, J. C. Peter. Dr. D. E. Peterson, R. 8. Philpott, Ho Fook, Ho Kom Fong, Lo Cheung Shiu, Ho U Shaug, Wong Ki Sun, Chan Chan Nam, Saug Kea. Lenng King Shan. How Chok Lin, Leung Pai Chi, and C. Morusy (Secretary).
The SECRETARY having road the notice cou -vening the meeting,
The CHAIRMAN aid-Gentlemen, With your permission. I propose to take the report and accounts, which have been in your hands upwards of a week, as real. The business of the Hotel during the past six months compares favourably with that of previous years, though it shows only a small advance on that for the same period of 1895. That, however, was our record, and it is very satisfactory that we have now-beaten
it, though by a merely trifling sum.. We had hoped for a much letter result, but the last two months showed a rather unexpected falling off, dus no doubt to the tendency Paris- warts of the tide of travellers.
this
your.
Be
that as it may, we have the pleasure of laying efore you what we take leave to considera grati fying statement, and it is with mach satisfaction your Directors are able to recommend au eight por cont. dividend. Tlas is the highest in lerin dividend we have yet paid, and we should not feel justitied in proposing it were not the prospects of the current half-year such as to warrant the belief that we shall be able to re- commend an equal amount for the final dividend,
The CHAIRMAN-It has not been put us s proposition.
Mr. Mounts Mr. Veitch has put it us ati waendment.
THE
The figures (which all appear in the pub ishod reports) show conclusively that the sum on Furniture sud Fixtures in excess of the that absolutely necessary expenditure. At first tisfy the combined Powers, is a consummation sight. I think it would appeal to any devoutly to to wished." The effects on Bornese partial observer that, instead of too much, bar: trade would be most serious ware the trouble to ing ben written off for deprociation, a danger ously inadequate sam had bean reserved for that last for any lengthened period. purpose, but I do not think there is any reason to go so far as to fear that, as for spreral years absolutely prior to the year 1996 the Hotul whe starred for lack of funds to keep the furniture and stars in an efficient state, but by the big expenditure of money detailed above the effect of the years of starvation has been obliterated. Nevertheless, to keep the establishment in pro- per going order, it is, in my opinion, absolutely per necessary to spend at the least $30,000 annum on the two items of Furniture and Fix- tures, and it is obrions that the money cannot I spit if it is not put wide out of the profits. The account, known as Fixtures covers expendi ture en machinery and boilers in connection hot and cold water throughout the building, the with the two hydraulic lifts, the distribution of refrigerator and fire extinguishers, the laundry. eo. Shareholers ought to bear in mind, when considering this question of dividend, thut al-
though the profit and loss account shows a profit Mr. MORRIS-Don't you think that the proof 294,794.71, nothing has yet been deducted from the half-year's profits for upkeep of Furniture and Fixtures. If we had, as some Companies de, dedacted the actual cost of maintenance of those two iteray from the profits before we closer the half year's accounts the balance of profit would appear as 626.818 lose than it does in the copy of the accounts now in your hands. I do not know if any of the gentlemen who signed the letter to the directors object to the setting The CHATEMAN-The report must be pro-side of $10,000 against repairs and renewals. posed first. Mr. Veitch.
Mr. VBITCH-No, I have not. hut I will put it as an amendment. I thought perhaps the Chairman would have said something about my remarking-
Mr. VEITCH-Oh! thank you." The CHAIRMAN then proposed and Mr. MURRAY PAIN seconded, the adoption of the report and acconuts.
CHINA AND JAPAN
TELEPHONE CO., LD. HONGKONG EXCHANGE.
OPEN DAY AND NIGHT.
SUBSCRIPTIONS:-
EXCHANGE LINES.
$80 Per Annum.
PRIVATE LINES
$100 Per Annum.
NO CHARGE FOR INSTALLATION,
BUSINESS NOTICES.
房樂鼠芝
KWONG CHI KOON DISPENSARY.
街欄槳城省東嚴
CHEONG LAN STREET, CANTON
子甲次歲年洽同请大 創開年四拾陸百捌仟憙英
ESTABLISHED 1864.
為聯吉意如
Trade Mark KWONG CHI KOON
DISPENSARY.
CHEONG LAN STREET, CANTON.
ESTABLISHED 1594.
油意如
U
UNRIVALLED V I YAU
or AS YOU WISH OIL."
Prices at 81.00 per bottle.
9.50 per bottle.
0.25 per bettle.
TUNG KWAN SAN, or Army
Mutical Powder," 50 cents per bottle.. 散打跌 TIT TA BAN OF ** Falling and
Braising Medical Fowler." Pries at 50 cents per bottle. Made from the best selvetel medicine to be used for the above Oil and Powder.
散及油造製泡藥好選拺
N.B.-A special charge is muds for lines of KWONG CHI KOON is one of the largest
more than average length.
ELECTRIC SUPPLIES OF EVERY
DESCRIPTION IN STOCK,
Including :-
CHEMICALS,
ELECTRIC BELLS.
INSULATORS.
BATTERIES,
the appreciation of land conjointly with that of building materials and this I can assure then we have done. But as we are now not likely either to my or sell land we cannot regard the of appreciation as any argument in favour larger dividends. Moreover, this appreciation may not be altogether permanent, especially when our existing buildings no longer command an unrestricted view of the barbour. As for the rise in price of building materials, wo lud in that a cogent reason for carefully piling up s reserve fund, so that when we come to build on our reclamation we may not feel the enlienced cost of erection quito so severely. The wisdom of maintaining a Reserve Fand ought to be apparent to all business men. This remark applies with equal force to the setting aside of a stun to provide for Repairs and Renewals. In the former case we should have. Beserve to mest possible serious opposition and to provide such a cause, been reduced. In the latter case it is imperative to take ataple provision for the repairs and renewals necessary in an old build. ing, where both wood and plaster are perpetually requiring renewal. White ants have to be fought; dry rot is always going on silently in some part or other; and repairs to plaster are simply continuous. With regard to Furniture and Fixtures, we have, it is true; made an
If we are not allowed to do this the arrendi- apparently liberal allowance in the present in
tara on these items during the current half-year stanca, but if you come to take into account
murst come, cut of profits for the same period. the large increase in the value of this set.
Fon
There is nothing at the credit of the account will find the appropriation is for from excos.
at the moment. The account of repairs and Rivo. This will be self-evident when I tell you that the Furniture and Fixtures now stand in
owals provides far the upkeep of the build. ing. It is manifest that the expenditure on onur books at $150,273, as compared with $115,239
kesping a building like the Hongkong Hotel on the sains date last year, 309.153 on the 30th June, 1898, and 881,863 on the 30th June, 1897.
either tight and of sufficiently attractive appearance to most its trade costs a considerable I may add that in the same half-year of 1899
sub of money. Certain of the company's share- we wrote off $15,000, and for the corresponding
hullers appear to object to the reserve frond six months of 1898 we wrote off $10,000. As
being maintained to the extent which the I bave already remarked, the wear and tear has
directors propose. If the suggested appropria- far more than doubled, and replacing prices are
tion of prelits is carried out the sum at credit much higher. The disposal of the profits was
of reserve fund will stand at $60,000. I do not recommended, gentlemen, without most
not consider this at all a large fund for a careful thought and discussion; and, under oll
company with a capital and debenture issue the circumstances, your Directors feel that, as
of $825,000. The two largest and soundest Imminess me, to whom the permanent well-
business concerns in Hongkong are allowed being of the concern under their care is the
Mr. OSBORNE sail-It is customary at Share by their rotors to pay a much legs pro paramoant consideration, they cannot conscien-
portion of their gross profits in divifiends, and to transfer to their reserve funds a much larger tiously see their way to increase the dividend holders Mastings for the Directors of a Com- from $4 to $5 per share as requested. Of course pany to voice their opinious through the Chair-
man of the Board, but the question before the proportion of their profits thao the Hongkong it is open to any of the shareholders to propose meeting is. I think, of sufficient importane to Hotel Co. I refer to the Hongkong and en soendment to the report to that effect, when we shall have to abide by the decision of the justify a departure from this rule. Speaking Whampoa Duck Co. and the Hongkong and I am entirely averse to the proposed increase lust half-yearly account showed a balance at ored- majority, but I trust I have said sufficient to for myself then I desire to place on record that Shanghai Bank. The former company in their convinco you of the nasoundness of such a policy, However, wo must leave the matter in of dividend, and I think I should be untrue it of profit and loss account of $929.637 (say one your hands. If you decide to vote is larger to my trust were I to allow the proposal to third of the profit made), wrote off about pass without entering a most emphatic pro- $241.000 and carried forward the balance of dividend the responsibility will rest with you, Meantime I shall be pleased to answer any ques-test against what I halieve to be a course that $56,236 to the new account (that is to say. carried fare of the Hotel Company. My reasons, gea- jm), The Butt profits of the Hongkong
For full partculars, &c., &c., tiens or give any further information within will act injuriously upon the permanent we! forward more than the dividend and bonus fit up Installations if requirol.
oa 90th June lust and Shunghat Bank tlemen, are two. In the first place, I do not éonsider the earnings justify a higher dividend. worn nearly 8 millon dollars; they paid
W. STUART, HARRISON, because the appropriation of profits as suggested a dividend of $1.206,982, being only a tri by the Report errs, if it errs at all, in not fe more than one-third of their profit, and writing off enough from Furniture and Fixtures, pat asus or murist forward most of the rest. Since 1893 we have spent in this direction
do not suppose that any of our shareholders $134,855 and during the satne period have really consider the Hongkong Hotel Co. a mora writton off $85,940; this in my opinion is, if stubis institution, or one the property of which anything, inadequate, because a large proportion is less liable to wear out, than the Dock Co, and of the expenditure was upon carpet, cutlery the Hongkong and Shanghai Bank, and I hope crockery, glassware and linen, on which the
that they will regard it as but for their own in- torest to allow only moderate caution to be used wear and tear is so great that I think it would
my power.
Mr. VEITCH then proposed the following an an amendment: To and the report in the apportionment of credit balance as follows :-
To pay a dividend of 10 par cont. for the half-year, absorbing $60,000.00
To write off from value of Furniture
10,000.00 and Fixtures...
To set aside against Repairs and
... 10.000.00 Renowals
To transfer to Reserve Fund ..: 13,000 00 To carry forward to Now Account 1,794.71
بیم
894.79471 Mr. CEUICKSHANK-I have pleasure in so- coading that amendment.
Mr. VEITCH suid-The past half-year's work. ing, resulting in a balance of $41,794.71 for pre- rent appropriation, is a matter for congratula. tion, and shows the steady progress the company is making. When I come to consider the manner in which the directors propose making the ap- propriation I must confess to a feeling of dis- appointment. For the half-year ending 31xt December, 1899, with somewhat smaller profits shareholders received a 10 per cent. dividend. see no substantial reason why a similar or even in any way weakening the company's position.
their existence. The outlay on Furniture and liable to. I hope the gentlewen present can be amounts to be written off as recommended earnings, and take no credit in the accounts for strokes of vil fortune which every business is
I
LIGHTNING CONDUCTORS.
SWITCHES.
TELEPHONES,
WIRE, &C., &c.
PRICE LISTS
ON
APPLICATION,
ELECTRIC BELL INSTALLATIONS ERECTED AND KEPT IN
ORDER.
Native Drug shops in Canton, employing about 300 men. The Proprietor, Mr. U Yan Ting, is a man of great energy and business capacity, and is also very benevolent, giving away thousands of dollars worth of medicine in charity, usually with an uye to the main off- chance. He has many testimonials us to the efficiency of his medicinos from officials, scholars and business men. Like the Chinese generally he has great faith in medicine and is desirous of extending his business to foreign countries, giving people of western hands the benefit of kia medicines.
He has submitted to me the formulas of some of his preparations for examination, giving full explanation as to the modiend qualities of the ingredient. I have found the Tung Kwan San Molical Powder and the Tit Ta Sua
or
Op 123 ond Bruising Medical Powder com. posed of Musk, Barovx, Camphor, Runbarb, two with red oxide of mercury and kinds of yellow sulphide of arsenic, animal and vegetable. charcoal, which are known in western phoney. Besides this it contains gold leaf, tigers and dra- gons bones, shavings of antelope and rhinocer horns, which I have shown in that clamical science proves to be inert, he proposes to omit from the medicine prepared for foreign use.
The medicine is to be chiefly used as a ster. mutatory, as is put up in small metal bott'es by which is can be injected into the motils.
The small amount of oxids of morenry and Estimates given for all kinds of Electrical lphide of arsenic will not be dangerous used
in this way....!
(Signed) J. G. KERR, work.
Trained Mechanicians sent to Ont-Ports to
Apply to
Manager.
Note Address:13, PRAYA CENTRAL.
Hongkong, 18th January, 1898,
FOR SALE.
Canton.
Directions are given according to the Chinese method of using the medicines.
Tho nature of the oil is very mild, but its action is exceedingly good, possessing won- defully captive effects in both interual and external diseases. As it is an invaluabio medi- eine it should be kept on hand ready for uso by all persons, whether at home or abroad.
DIRECTIONS.
making a return for the year of sixteen per cent.larrer dividend should not now be paid, without be more correct to pay for such articles out of in providing for fair wear and tear and possible AP OF THE SIKLANG or WEST toothache put a little in the tooth on "extton
on the paid up capital. The Chairman at the last half-yearly meeting, ou the 27th March. gero you an informal assittance that if business
in the report appear somewhat excessive. For Fixtures will always constitute a very large imical to accept the dividend of $4 per share continued as it was then, we should be able to
instance, it is proposed to write down Furni.item in our expenditure and necessarily so. beangster by the Board of Directors. ture and Fittings by $20.00, reducing the
nause if you starve the business of its legitimate
fully maintain this dividend, and I feel pretty tais in reporting this assurance. But I do not book value to $130,273.59. This caus some sourishment in the shape of up-to-data furnish- think we could safely promise to pay more. is true that we have made à lege sum of money thing over 13 per cent. Now, gentlemen,ing you will be starving the goase that lays the was put to the meeting and carried, 22 voting
It
I
and that we have a small Boserve Fund; but wo
Where thon
arc
THE
No one else wishing to speak, the amendment
for and 1f against.
fore we did not make them ont.
That is
On the raation of Mr. VEITCH, a vote of
directors.
RIVER
For external use rub the oil on the temples [2569 forehead, between the eyebrows, back of the ears and neck, on the chest and back, on the abdomen or wherever the pain or soreness is located. It inust be rabbed on for 5 minutes. For and rub on the gums. The oil has Loneficial effects in bordache, fainting, colds, sore throat, stomach ache, eolic pains, thematism, numb ness of the limbs, pain in the back, ramp, local swelling and inflamations, influenza, toothache, pains in the head and con- diarrhoea, vulsions after childbirth, prickly heat, boils, and mosquito bites.
From HONGKONG to WUCHOWFU. Showing the Ports and Calling Places Opened to Foreign Trade, 1897. Published at Daily Press Office. Price 25 Cents, Cash. Hongkong, 1st April, 1897
HUN G
NGOI
SAN
(Chinese Daily Preas), PUBLISHED DAILY,
[48 IO
is the oldest and still immeasurably the best medium for Advertising among the Native Community Established for nearly FORTY YEARS circulates largely throughout Southern China,
Indo-China, ote.
Torms for Advertising (Translations free) can be obtained at the Office, 9, Praya Central, Documents translated from or into Classio or Colloquial Chinese.
THE
The CHAILMAN-Well, gentlemen, I declare read in the report for the four golden eggs. A well-appointed comfortable 3 th June, 1996: The Directors
Hotel will thrive, bata mean, badly appointe 1 the amendment carried. Yours is the respon feel hound, as a measure of common primer that quite 10 per cent should be yearly writ
to give a leaner report. to go on-hilling up this fund, which will now stand at $60,000. We must also provide ten off Furniture subject to such excessive one, such as we were a few years ago. will sibility if on any previous occasion we have On the motion of Mr. VEITCH, Accorded by wear and tear as that in the Hongkong Hotel" pl custom rather than attract it. As to second reason. considering that only my liberally for depreciation, for wear and tear increases pari passa with the increase in visitors. If at that time when the Furniture and Fittings $8.000 has been written of the value of our Mr. PHiLror Messrs W. Parfitt and R. V. and, I am sorry to adil, the cost of replacing of the Hotel were in an infinitely worse con biking and in view of the reconstruction of Wilcox ware re-elected directors.
On the motion of Mr. BaICH GEORG, seconded almost every article will be greater. The Southdition than at present 10 per cent, was considered the old portion of the Hotel which will have to be
sufficient to write off, surely there is no need taken in hand before long, I think, considering by Mr. Moxon, Messrs. W. H. Posts and W. African War has caused a rise in the prices of with such an improved state of affaire us at pure these two points, that the cost of rebuilding H. Gaskell were re-elected anditors. all goods imported from Great Britain, and
The CHAIRMAN-Dividend warrants will recent changes in the Philippines, while largely sent (and alse bearing in mind that during the should be met partially if not wholly out of the augmenting the passenger traffic, have seriously last two years a sum of $48,410,84 has beat serve Fund, and for that purpose we should be ready on Thursday next. They are Hongkong; or from the different Agents.
written off, and the very substantial sum of enhanced the local cost of babour and of various 299,580.81 expended in additions to furniture) to bild up our Reserve in the days of prosperity. Do yet mule ont-We knew that there
The argument that because our lund has articles of food, still farther aggravated lately by the hostilities in North Chino. Last half-write off $20,000 as recommended in the report.
Thisis too large a sum, and I think $19,000 would has gone up, we should therefore pay a
ciated in value, becauas the cost of likely to be some opposition, and there- year nothing was set aside against repairs und
I will dividend, appears to mese moustrolls, so unwand, all the business before the meeting. I have to renewals, and we have therefore felt compelled eet all the requirements of the case.
take repairs and renewals. Although over 'this half to devote the sum of $10,00) to the 7,000 was expended during the last six months that I can hardly think it has been put forward thank you for your attendance. purpose. I must ask you to remember, too,
and mortar that we can turn into cush. We that the current half has always been regarded the average half-rearly expenditure under this seriously. We have no surplus land, no bricks thanks as accurile the Chairman and his co- The CHAIRMAN-Gentlemen, I have to thank need new carpets. us the loan haif of the year. Fortunately konding for the last two years has been $5.743 for us there is now no such striking difference is there any useassity to now set aside $10,000 cannot eat chips off our land to sell when we
to proeurs the cash to pay these increased you for your vote on behalf of myself and col- in the receipts for the two half-years as To me there is no such necessity. With a heav
Are we to borrow from the leagues. dividends? formerly obtained. But we cannot, in their expenditure than usual during the first half, the repairs for the current half-year should at
Bank? I think, gentlemen, that if we were ordinary course, expect to do better than
to oal: the Bauk for an overdraft to pay these dividends-dividends which in my opinion we we did last year, and on that occasion any rate not be more than the average. It was large sam had been carried forward, which only in 1888 that are thou $14,000 was ux-
right to pay and were we to offer as
Per American ship S. P. Hitchcock, sailed on materially swelled the amount available for pended in what was described as special repairs have no appropriation. Mention is made in the Report in painting the Hotel premises, so that no
of our land-I think, gentlemen, the Bank's 26th August. For New York. 26,775 rolls of the fact that, while the business of the Con- further outlay under this head should be re security for the overdraft the appreciated value pany continues to progress, there are some quired for some time to come. I think $7,000 reply would be justified if it were more forcible matting. 1026 hales xattencore, 1,000 cases directions in which much further expansion a sufficient amount to set aside against repairs than polito. Thase, thran, are my reasons and, broken cassis, 796 boxes cassia 594 nekgs. before you pass this relation, I beg of you firecrackers, 300 casos p. 1. fans, 120 bales straw-
will be. You will be impossible in the existing Hotel premises. allude to the bars, billiard and dining rooms..
LIFE AND VIGOUR FOE THE HAIR-The to ponder well what the effect.
cases heather brushes, 82 baleg ones, 55 cases These unfortunately are inelastic, which is the
virtuos for stimulating, and restoring the hair, dends-in spite of their matare judgment to Chinaware, 50 cases strawcuffs, 40 pekgs, rat. more to be regretted since they are our best only article which really possesses nutritions will be forcing the Board to pay away in divi- tail, 100 ot/ks sey, 100 cases cassia buds, 90s annum in dranes. Received at paying departments. Whether or not some- thing can be done to meet the requirements by ROWLAND'S MACASSAR OIL It removes the contrary-more than hias een really earned tapware, 6 cases camphorwood tranks,
senrt, harshness, dryness, prevents, the hair and you will be creating a precedent, to follow utilising the small strip of land on the Reclama being injured by illness, and should always be which can only lead to one result, and that is tion is a matter for our early and anxious consed for children's hair; no other article in speely return to the financial sobarrassments sideration but already the question, so far as the parts such a bountiful and deeasy appearance to and difficulties which hardly seven years ago thres dining room is concerned, has become urgent, the hair as RoWLAND'S MACASSAR OIL, and if tened to close our career in the Bankruptor Since the foregoing statement was prepared.
Mr, PARFITT said-With reference to the let the Board have received the following latter, you have never used it, you are strongly advised Court.
to procure a bottle without delay, and continue signed by thirty-five shareholders, having an
using it; also in a golden colour for fair hair, ter signed by certain shareholders representing a [14323 large number of shares in this Company, askiny aggregate holding of nearly 7,000 shares :----
Sold by Stores and Chemists.
I
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1939-1
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ON SALE.
DEMY OCTAVO, p.p. 248, Price, $2.50. WMERCHANT NAVY, by
EXPLOITS OF THE J.
FETHERSTONHAUGH.
Internally the dose is five drops in a little water, and it is to be repeated every two or three hours, at the same time using it ex
ternallyietor of the Kwong Chi Koon -
The
Drug Store of Canton has placed in my handa with the receipt for each, for examination a number of his preparations
His "I YAU "As you wish Oil" has s wide circulation and is very much used. It is wmposed of aromatic and stimulant herbs and barks, most of which are well known in our pharmacopoeia, together with pingpin (a costly kind of cumiphor) bishops wort, orris root, with two or three other less known articles, but none of the objectionable substances which cater into many Chinese medicines. It is one of the combinations which has real merits and it is not strange that it has attained so wide a reputation for the relief of maladies for which it is recommended.
(Signed) Docron J. G. KERR,
Canton, China. Any order please apply to:- MESSES. DARTLY & Co.,
No. 19, Queen's Road Central, Hongkong, Who are appointed Sole Agents for the sale of our Goods.
KWONG CHI KOON. Hongkong, 5th May, 1900.
NOTICE OF REMOVAL.
Offices of the
THE HONGKONG DAILY PRESS,
.1372
CHUNG NGOI BAN TO. CHRONICLE & DIRECTORY.
have this day been Removed to
9, PRAYA CENTRAL, Entrances East Lane, recently Messrs.
Published at HONGKONG DAILY PEERS Wendt & Co.'s Offices, tehind Messrs. Shewan. Office, and to be had from ull Booksellers,
Hongkong, 21st December, 1894.
[362
Tomos & Co.'s premises.
Hongkong 1st May. 1900,