Page
BALANCE SHEETS AND LOST CAPITAL.
The following interesting correspondence lis appeared in the N. C. Daily Newsa
Gotrre
THE NEW SHIPPING CONVENTIONS,
THE HONGKONG DAILY PRESS, SATURDAY, MAY 27TH, 1911.
SHARE OF THE MUNICIPALITIES.
The British Government laid before Parlin. with the Governments of the high contrasting to ships of war or la Gavertiment ships appre portant municipalities will expend in celebrating
of
always fore-
I venture to thiɛk, however, that could this ongoing vessels or between on-going vessels the provisions of articla 15 corming with to a non-contracting State the application of are to be present at the Guildhall luncheon, |
Id
Artiole 16. The convention thall be ratified control of public authorities, nor, parti-statesmen will have no cause of complaint that After an interval of at most one year from the onlar, does it affect such laws or treaties on the they have been overlooked in this respect by
the Mother Country day when the Convention is signed, the Belgian subject of the salvage of fishing gear.
Article 14. This convention does not apply Government shall place itself in communication
It is early yet to state in detail what the im mont last month the Conventions for the partise which have declared themselves prepared printed exclusively to a public service.
Article 15. The e provisions of this convention the Coronation. As an example, however, we Uailleation of certain rules of law respecting (1) to ratify the Convention, with a view to deading
ahul beapplied
persons interested may say that the City of London, Bre-The question as to whatber s limfied
as regards all liability company, which has incurred losses in Collisions, and (2) Assistance and Salvage at Son whether it should be put into forea
The ratifications shall, if so decided, be dewhou either the assisting or salving vessel or mest in such matters, because of its uniqua the carrying on of its business, should be ecm-ged at Brussels last year by the represents
the vessel resisted or salved belongs to a State privileges, has voted £25,000 for the purpose. pelled to apply to have its capital reduced, bas tives of 26 Powers. The Conventions, which poited forthwith at Brussels, and the Conven
tion shall some luto forse a month afterwards. of the high contracting parties, and in any The Corporation will decorate and illuminate no doubt. Leon discussed on many provions printed in French and English, read as
followe:***
The protocol
shall remain open another year other cases for which the national laws provide the whole of the ronta over which the King and
Provided always that---
Quton will pass on the second day, including eccasions; and to the legal mind such a
Convention for the Unification of cerisinin favour of the States represented at the
As regards persons interested who belong all the City liegos. Both the King and Brussels Conference. After this interval they -involving, as it does, a fundamental change
Queen in the Companies Acts--might be considered rules of law with respect to Collisions,
Article 1 Where a collision occurs between can only adhere to it on quito impracticable.
the abare provisions may be made by ouch for the occasion the whole of the Guildhall
Yard is to be the contracting States conditional upon
e canopied, while the Royal party will
pass between tiera of seats, from which the ciprocity.
The
Westminister Connoil will City which is to £7,000-two thirds of Blue scheme of street decoration William Richmond, B. and Mr. Fruk Brangwyn, and other artists. Finsbury Bor- £2,000, Woolwich £1,000, and Paddington for
has also Council £500, and so on. Mr, John Burns has already stated that the prodent at 1902 is to be order to obviate financial dim. followed, and enities and reasonable e expenditure in connection with the Coronation will be sanotionel by tho Local Government Board.
The form of Balance Sheet prescribed in the Schedule to the Companies Acts, shows "Profit and Los-The disposable balance for the payment of dividends, eto," It says noth- about the undisposable lees; and it is not intelligible to many people to ace a deficit in the elispe of loss on Working Account, which may be growing worse year hy year, grouped
Article 2.
the fault of
offest to
2. Where all the parsons interested belong to the same State as the court trying the case, the provisions of the national law end not of the convention ars applicable.
if
City's representatives can greet their pod
1.
provido
1 by Sir
a sum of
Article 17. In the case of one or other of Ivessels of inland navigation, the compouse. change be carried luto effect, the submission of tion due for damages onused to the vessels, or to the high contracting parties denouncing this Balance Sheets and Roporta to meetings of
things or persons on board thereof, shall be convention, such denunciation shall not take aby shareholders and the financial position of Com solted in accordance with the following pro effect until a year after the day on which it has panies generally would be much better under-visions, in whatever waters the collision takes been notified to the Eolgian Government, and the convention shall remain. In force as betweon stood by the investing public than they are at
place.
If the collision is accidental, if it the other contracting parties. prosont.
ADDITIONAL ARTICLE. is caused by force majeure, or if the cause of
anything in the pro Notwithulanding the collision is left in doubt, the damages avisions of article 16, it is agreed that it borns by those who have suffered them.
shull not be to This provision the last phor she is applicable notwith of theed, the provisions of article 5, establishing liability sy be at Auchor (or otherwito made fust) af in cases where a collision is caused by pilot carried by compulsion of the time of the casualty,
Article 3. If the collision is cansed by the law, until the high contracting parties shall bave arrived at an agreement on the subject of
of ship owners. trostmont, to ray mind, is wrong in principle the damages attaches to the one which has com.
In witness whereof, the and unround in practice. The losses should be mitted the fan!t. dodusted from the paid-up capital on the other Article 4. If two or more vessels am in the several high contracting parties have sign side
of the Balance Sheet.
fault the liability of each vessel find the convention and bavo affed their seals nows, if A and B, who are proportion to the degree of the faults respective hereto.. As everybody knows,
Drawn up at Brussole, in one copy, the 23rd carrying on business in partnership and sharingly committed. Provided that if, having regard profts and losses equally, enstain a low on their to the airpumstances, it is not possible to eatab September, 1910. year's working, such lose is written off their lish the degree of the respective faults, or if
Convention for the Unitation of certain capital: It is a loss of capital and their Capital it appears that the faults are equal, the liability Accounts are thoreby
reduced to that
Rules of Law respecting Assistance and Balvage is apportioned equally
caused, either to the vessels or at Sos, hold apply to a company A and B
cargoes or large number of ton tael shares (fully paid) in the X. Y, Co. It is found when the accounts are made up for the Enancial year that Toss of 20 per cent. of the capital, or Tls. 2 per share, has beau inentrod. If the capital of the company were reduced to this ortent A and B and their fellow shareholders start the next year with a clean bill of Lealth." Tho com pany, we will say, the next year does well and dividend on that year's working. shareholders will get their dividend, they will not be confronted with a big balance brought forward from the previous year to the debit of Working Account, which under exist
conditions takes years to wipe out.
amongst the Assets on a Balasco Sheet. Buch fault of one of the versole, liability to make good the limitation of Nabi Plenipotentiarioa of notify its intention to the other Powers, by the great municipalities, Some will apportion |
ence within six.
3. Without prejudice to any widor provisions of any national laws, article 11 only applies as between vesels belonging to the States of the high contrasting parties.
Article 16. Any one of the high contrasting parties shall have the right, througes saftor in convention
comes into force, to call for a fresh conference with a viow to possible amendments,
oxtending. view to and particularly with and possible, the sphere of its application.
Any Power exercising this right must through the Belgian Government, which will for conresing the confer make arrangements for
Artiela 17. States which have not signed this convention are allowed to adhere to it on request. Sach adhesion shall be notified through the diplomatic channel to the Belgian Government, and by the latter to aach of the Governments of the other contracting parties; sanding of the notification by the Belgian Government.
Article 18. This Convention shall bo ratified, After an interval of et most one year from the day on which the convention is signed, the Belgian Government shall place itself in communication with the Governments of the high contracting parties which have declared themselves prepared to ratify the convention, with a view to deciding whether it would be pat into force.
In the provinces no fixed rule will be adopted sums out of the rates varying in amount according to the size of the city or borough, whilet others intend to raise a voluntary fund. For instance, Eastbourne has got itself to obtain £1,000 by means of subscription. Whether by rate or voluntary effort, the total to be provided by the municipalities throughout the Kingdom will represent an enormous sum, which must be stated in millions. Compared to this the beacon
fires will only represent a small items. This expenditure, entailed upon the sugall os the well as the great, at home and abroad, by Ceronation, which will be so readily borne, represents to same extent the loyalty of the people to this Crown. At the same time it does not mean a commercial loss. The bulk of it will stimulato genuine trades.
extent. Why should the same thing not The damages the effects or other pro- Article 1. Assistanco and sulvage of sea-going it shall become effective one month after the thousand bonfires at £10 each to represent
The
to A
3
do not suggest that if a small lose is so- tained by a company that its capital should be immediately reduced, but I do maintain that
(1) Every Balance Sheet should show its los Hess deducted from the paid up capital.
its
to their
perty of the orews, passengers, or other perous en board, are borne by the vessele in fault in the above proportions, and even to third parties, -vessel is not liable for more than such propor tion of such damages.
In respect of damages caused by death or personal injuries, the vessels in fault are jointly as well as severally liable to third parties, with ent prejudice, however, to the right of the vel which has paid a larger port than that which, in accordance with the provisions of the first paragraph of this article, she ought ultimately to bear, to obtain a contribution from the other vessel or vessels in fault.
vessels in danger, of any things on board, of freight and passage money, and also services of the same mature rendered by sai going vassola to vessels of inland navigation or vice tra subject to the following provisions, without any distinction being drawn between these two kinds of services [viz., sesistance and salvage, and in whatarer waters the services have been rendered.
Article 2. Every act of assistance or salvage which has had a useful result gives a right to equitable uneration.
ho
It is left to the law of each country to deter. mine, as regards anch right to obtain contribe. tion, the meaning and effect of any contract or provision of law which limits the liability the owners of a vessel towards persons on board. Article 5. The liability imposed by the
romd
No remuneration is duo if the services render have no beneficial result,
property salved. valce of the proper who have taken part In no case shall the sum to be paid exceed
cf
(2) A A company
any shoukl be compelled to reduce capital if, say, at least 20 per cent, of such articles attaches in cases where tha no right to ang remuneration.
capital has been lost.
As mentioned above, the framers of laws may find it difficult to make alterations to those clausos in the Companies Acts dealing with the reduction of Capital. Could not this be carried into effect automatically? That is to say--If it is proved to the satisfaction of this, the annual mooting, of the X. Y. Company that the com- pany has sustained losses exceeding 20 per cent. of its paid-ap capital, then in socordance with section so and so of the Compes Aots, 1920, the capital of the company be reduced to so and Ro, ato., eta, Ve
method of lengthy: The notices of main and ecial resolutions would thus be oby
MORTMIER REID,
Sin-In case any of your readers in this mans-companied Bettlement may feel in olined to take Mr. Reid's remarks on the above subject seriously, the "other side of the quas tion" may be of some interest.
is caused by the fault of a pilot, even when the pilot is carried by compulsion of law. Article 6. The right of action for the recovery of damages remiting from a collision is not conditional upon the entering of a protest or the fulfilment of any other special formality.
aptions of fault in regard to All legal presumpt liability for collisions for the recovery of dam.
ore abolished. Article 7.-Actions ages are barred after an interval of two years from the date of the casualty.
in
salvage operations notwithstanding the express and reasonable prohibition on the part of the vessel to which the services were rendered have Article 4. A tug has no right to remunera, tion for assistance to or salvage of the vessel she is towing or of the vessel's cargo, except where she has rendered exceptional services which cannot be considered as rendered in falfil. ment of the contract of towaga,
Article 5 Remuneration is due notwith rendered by or to vessels belonging to the same standing that the salvage services have been owner,
Article 6. The amount of remuneration is and, parties The period within which an action must be fixed by agreement between the instituted for enforcing the right to obtain failing agreement, by the cuart contribution permitted by paragraph 3 of article The proportion in which the remuneration is 4 is one year from the date of payment.
to be distributed amongst the salvors is fixed in The grounds upon which the said periods of the same manner. limitation may be suspended or interrupted ars
The A
apportionment of the remuneration the owner, master and other persons determined by the law of the court where the amonget
in the service of each malving vessel shall be ause is triod.
ned by the of the vessel's Ang. The bigh contracting parties reserve to determined themselves, the right to provide, by legisla. Article 7. Every agreement as to sexistance or inthoir respective countries, that the said salvage entered into at the moment and under tion periods shall be extended in cases where it has the influence of danger may, at the request of bean possible to arrest the defendant ressol in either party, be annulled or modified by the the territorial waters of the State in which the court if it considers that the conditions agreed
not equitable. plaintiff has his domicile or principal place of upon are
In all cases,
the
HONGKONG SHARE
MARKET,
The ratifications shall, if decided, be deposited forthwith at Brussels, and the con- Messra. Vernon & Smyth in their wookly vention shall come into force a month after-share report dated May 26th stated:-
Our market has ruled quieter daring the wards
INTIMATIONS
BABY'S FACE LIKE PIECE OF RAW BEEF
Smothered with Bad Pimples. Aw- ful to Look At. Scratched and Cried Terribly. Feared He Would Always be Disfigured. Cuticura Remedies Quito Cured Him.
"My baby boy, twelve months ago, had a large pimple come on his forehead. It burst
and spread all over h face wale soon looked like a place of row bicof, all smothered with: bad pimples. It was awful to Inak at. The poor littl thing used to scratch 11 Yauery terribly. I took Gente des doctor but ho only to worse f was quite frightened thos ne would always be dặm figured. Thert sent for Boine Cuticura Ointment
nil after using 1 found that baby no longer seratele fils face. Bo 1 got in mil two large in of Outloura Oiniment, together with Cutter Bump, and La two months the Cuticura Remedies had quite cured him. Now always keep in of Cuticura On- ment by me in case of anything else coming, and of course I use Cuticura Soap for all my abijdrea.
About fourteen years ago I had something ka baat spots all over my arms and shoul saratched and rubbed them so much hat they bind and then I was covered with little ports. A hend gave me a tin of Call- Gure Ointment, and bokura I had used it up my skin was completely clear, and I we mired. I had had the trouble for nine montby and had tried everything to get viri of it. Sells my friends about my baby's CUTE, Indeed they sex what I used for the Istis boy's face for they sit saw how bad it was Before tite Quilcura Remedies cured It." (Algued) His. E. Perry, 90, Waterloo Rd., Algamhot, Hants. Engiand, May 21, 1910. dutteurs Remedies are sold throughout the world. Depoty: London, 27. Charterhouse B. H. Pax: 50. Africa, Lennon, 178 cm Town, etc.: D. &. A Foiter Drug
Cape Ohem, Corp., Sole Propa,, Boston. Bend For Free Cutlaurs book on skin disyasın,
in favour of the States represented at the math change. Rabbers have attracted prac. GOLD
The protocol shall remain span another year past weak and prices generally do not show tically no attention during the interval, and the market, which reflects the quietness
prevailing at Home,
closes without feature. Pine Hari Parn Rubber in London has furiated between 4/4 and 4/5 per lb, closing quiet at the latter rate. Bar at 1/984 The Bilorgloses at 24-2 per oz., and Sterling T. T open market rate of discount ins advanced to 28 per cent., but there is again no change in the Bank of England rate, which remalusat3 percent, Shanghai T.T. closesat 74h.
BANKS-Hongh
hong and Shanghais continno quiet at $395 settore, its probable buyers London rate has of small lots at 8890. declined
and now stands at £87 10%. Nationals have been done at 880 and close in farther request.
Brassaly Conference. After this interval they can only adhere to it on conforming with the provisions of article 17.
Article 19. In the use of one or other of the high contracting partios denouncing this cou. vention.
devanciation not effect nabil a year after the day on which lako shoot notified to the Belgian Government, and this convention shall remain in forco as between the other contracting parties,
In
witness whereof, the plenipotentiaries of the respective high contrasting parties are signed this convention and have affixed their seals thereto.
Drawn up at Brussels, in one copy, 23rd September, 1910.
COST OF THE CORONATION.
TOTAL OF MILLIONS. The estimate for the cost of the Coronation sat forth by the Treasury is given at £185,000 In the case of King Baward, the original est mate was 100,000. These two amounts compare with £70,000 as the cost of the Coronation of Queen Victoria, £45,000 in the instance of William IV., and £139,238 at the crowning of
10/2
MARINE INSURANCES-Unions have been booked at 8815 and close steady, North Chinas are wasted at Tls. 155, Yongtozes at £190, and China Traders at $105. Small roten of Cantons are reported at the reduced rate of 8175.
AND
SILVER
WATCHES
ENGLISH,
SWISS
AND
on quotation per SUPERIOR
We all know that in a private partnership biele 8: After a collision, the master of each sent of one ben it is proved that the conill be oppsroat, therefore, says the Dazy they just touched, fell away swiftly to $11 sellere.
losses are deducted from Capital Account, and we kave also seen how in the Balance Sheet of Limited Company, Capital Account is kept intast while losses are carried forward to be made by
good subsequent
a
and can be distributed before a dívid. I the other vessel, har crew and her passengers.
reason for this is
A breach of the above provisions does not of creditors, the individual partners may be sued itself impose any liability on the owner of a as such and their private property distrained vessel.
The high contracting parties on. It is therefore, clearly only the business of
Article 9, the persons concerned how much profit in to be whose legislation does not forbid infringement distributed and how far capital is to remain of the precoding article bind themselves to take Intact so long as their business friends are or to propose to their respective Legislature the satisfied to give them orsdit. Mr. Reid ask measures necessary for the prevention of such "Why should the same thing not apply to a infringement. company? Obviously because he is Limited Company; that is t liability la limited, so that the individuals who subscribed the capital cannot be called
upon to
to a
A
the
pay one pouny more after the nominal value of this share has ours been pair to the Company
Now reduction of capital applied in tuid tense ventione which may horseffor be made, the is nothing more than the setting off of losses provisions of this convention to not aftert in against capital, en that eubsequente profits may any way the law in fores in asb country with be distributed without first making good those regard to the limitation of shipowners' liability, previous curity for the por any other losses. And the money to distributed zor do they affect the legal obligations arising
credit on the contracts. to who Creditor the original napit
We arranged
Article 11. This convention dose not apply This, then, is the reason why the Companies Act provides the present cumbersome method to ships of war or to Government ships uppro- of salution notice of meetings and special Reprints exousively to a public servico.
which
your correspondent wishes to obviate and without which the creditor could be openly robbed of his security. Sections 46 to 50 of the Companies (Consolidation) Act, 1908, practically cover the whole matter, and they have come to stay.
|
AÌ
TOI.
saroya.
FIRE INSURANCES-Hongkongs are pre curable at $325. Chinas are firm at $118 bayers, SHIPPING-Hongkong, Canton and Masans with small sales at that rate and $119. have been booked at $30, 8303 and 231, closing with buyers at $302, Indo-Chinas are quieter and close with sellers at 869 for proferred and deferred combined. The London Rautor is unchanged at £6 10.-Chins and Manilas after a rapid advance to $13, which at which they clow, buyers offering 8102, Douginses are quiet at $19, and Star Forrys at 26 and $15 for old and new respectively. There are sellers of Shell Transporta in London at 88/9.
REFINERIES-China Sugars are easier at $94, and the offer of a slightly lower rate would probably lead to business. Luzons are neglected MINING Charbonnages and Raubs are un- and the quotation of $20 is parily nominal. changed at last week's quotations, but there are buyors of Chinese Engineerings at Tls. 111.
DOCKS, WHARVES AND GODOWNS.-Hong- on and Whampoa Docks have been booked st 8535, at which rate the market closes quiet with dore at 848
New Amoy Dooks found buyers probable sellers. Kowloon Wharves bare been at $71, and more are enquired for. Shanghai Docks coms lever from the North at Tls. 50, bat there are buyers of Shanghai and Houg. kew Wharves at the improved rate of Tis. 87.
LANDS, HOTELS AND BUILDINGS-Hong- kong Lands have changed hands at $95 and with sellers at the latter rats. 894,
closing Kontoen Lands hare bron booked at $25 and West Points at 347. Humphreys Estates bave sold at $6.10, cloning with probable sellers, Hongkong Hotels close firma but onchanged
Wbsu one remembers all that is involved in the Coronation, the variety of interests that have to be considered, the position of the guests that will then be on a visit to these shores, the adequate extertainment that is necessary for the prestige of the British Empire, and the goat ceremony that has to be carried out with dignity and ritual Atting the occasion, then the sam mentioned cannot be considered exceRSİYO,
In June, for instance, we shall have as Corozation
number of Indien goosts a visitors who, when the Sovereign and disponsor or hospitality in honour of the event. To the Eastern eye the Corona tion is even to a greater extent than to the more prosale Englishman, saymbol and suggestion that encourage loyalty and indicate the strength, at 8115 and $75 for old and new respectively.
, and ratioty, vitality of the Empire.
The Ceremony day's
in the Abbay, the Naval Ro. Maal Lande nro still quoted at Tla, 99 and
Metropole Hotels at Pesos 11. COTTON MILLS-Hongsongs hare bayers at view, the ·Bround procession through tho
84 with stroots of London, sad all the other important
Bollers at 844 Enotations Mills are na foliowa, viz.:— items in the Coronation programme, possess,
Evos Tls, 85, Boy Chees Tls. 20, Internationals therefore, an interest and importance far beyond Tis, 473, und Laon Kung Mows Tie. 57. the purely commercial estimate of cost.
for the Norther
parties is vitiated by fraud or of the vessels in collision is bound, so far as he can concealment or when the remuneration is, in Graphic, that no fixed sum can be taken do so without serious danger to his vessel, her proportion to the services rendered in an ex precedent for these ocessions, and that the crow
cassive degree too large or too small, the agreesetimate depends upon the state of the country I her passengers, to ronder assistance to
ment may be annulled or modifed by the court finances. When King Edward came to the
affected. He is likewise bound so far as possible to make at the request of the party
tbrons Mr. Balfour's Government named 'The
WAR in a Article 8. The remuneration is fixed by the £100,000 which known to the other vessel the name of his ressal
comparative not for to seck,
158 modest-because the country had When an individual trader for a partnership) and the port to which she belongs, and also the sourt according to the circumstances of each
Just emerged from en expensive obtains credit, it is clearly understood that names of the ports from which she comes and to case on the basis of the following considerations
дот Of the amount fet apart (a) Firstly, the measure of incoss obtained, the Liability is unlimited; that is to partnership assets are not sufficient toy, if the which she is bound.
the efforts and deserts of the saivers, the for the Coronation in Jane, at least £5,000 hat to pay the
bean earmarked for the entertainment of foreign danger run by the salved vessel, by her passan gers, crew and cargo, by the salvors, and by the solving vessel; the time expended, the expenses incurred and losses suffered, and the risks of liability and other risks run by the salvors, and also the rains of the property exposed to such risks, due regard being had to the special ap- propriation (if any) of the salvore vessel for The high contracting parties will communi. salvage purposes; (b) secondly, the value of the
mived. soon as possible the P whe cate to one another
same considerations apply for the purpose laws or regulations which have already been or may be hereafter
in their States of
of firing the apportionment provided for by the promulgated for giving effect to the above undertaking. second paragraph of article 6.
Article 10. Without prejudice to any con- The court may deprive the salvors of all rammerision, or may aws that tabi alvors
it the have by their fault rendered the malvaze or assistance necessary or have boon guilty of theft, fraudulent concealment, or other sots of fraud.
Article9. No remuneration is dac from per- Bone whose lives are saved, but nothing in this article shall affect the provisions of the nation-
laws on this subject Salvors of human life, who have taken part in the services rendered on the ocasion of the accident giving rise to salvage or assistance, are entitled to a fair share of the remuneration awarded to the salvors of the vessel, her cargo, and soconaries.
Article 10. A salvage action is barred after is only one item in the Coronation balance-sheet. an internal of two years from the day on which Much more will come from the individual pockets As regards petsuas interested who belong the operations of assistance or salvage terminate of the King's subjects who are anxions to dis- 85, Electries at 821 and Watkins at 33.
and hospitality The grounds upon which the said period of tinguish the event by a spirit of
BUDEERS AND 'Tis The following closing the shave provisions may be made by each of determined by the law of the court where the stance, called forth the organization of which from London by wire from Loudon to-day: to a non-contrasting State, the application of
limitation may be suspended or interrupted are goodwill. This is the feeling that haa, for in-
quotations-middle prices-have been received the contracting States conditional upon reci
case is tried.
Lord Cheylenmore is transuror for the entertain- Highlands and Lowlands... 85)- procity
The high contracting parties reserve to them.ment of the Colonial troops who are to take
Ledburya Where all the persons interested belong to the same State as the court trying the gase, the selves the right to provide, by legislation in part in the Coronation, In addition, the great provi
visions of the national lay and not of the their respective countries, that the said period social loaders are already vying with each other London Venturos
shali be extended in cases where it has not in the preparations planned for receptions, United Serdangs...
Similar fastivities convention are appention extends to the been possibila to mrost the vessel assisted or gardes parties, balls, etc...
Article 12 This
houses for the Allegr
Bata Tiges making good venel, or to goods or persona
of Those underwriting members of Lloyd's who caused to another age which a vessel has the plaintiff has bis domicile or pop/entertainment of the chief visitors, so that they
can meat representative English Society Linggis... Bagonge... make a business of "fancy" riske, a recent Lon on board either vessel, either by the execution place of business.
Article 11. Every master is bound, so far as amidst the beauty of rural England. or non-execution of a menmuvre or by the non- don paper says, have for some timo bean turning observance of the regalations, even if no collision he can do so without serious danger to his If one, for instance, estimated the cost of the Anglo-Malays
other houssin Patalings
Straits Bertams their attention to insurancas covering the had actually taken place.
vessel, her orow and her passengers, to render Coronation, say, to some ducal next Budget as well as the Coronation.
Vallambrosas Article 14. Any one of the high contracting assistance to everybody, even though an enemy, respect to the provisions of robes, coronets, and The last rate
Just.
jewale for the ladies, entertainment to Coronation Eastern and International Truste to pay a
a loss in the event quoted
The owner of reasel inours no- gainess per cent., while several policies to cover this convention comes into force, to call for a
reason of contravention of the above provision. should find that a considerable inroad was made French Tin Mines a reduction in the tea duty have been taken out fresh conference with a view to possible amend
Artich 12. The high contracting parties into at 25
• gaineas per cent, the equivalent premium ments, and partionlarly with a view to extending, whose legislation does not forbid infringemente Jear's innom oras if this were not alto-
more than mortgaged. Multiplied by for coffee and covou being 35 gainess perif possible, the sphere of its application.
varying total-though of individual
*mount. sent. Some large insurances have been effected
iniuation to the other Powers, through the take or to propose to their respective legislas that will run into hundreds of thousands. Prob- by traders whose interests are bound up with the its ower exercising thisright must notify of the proseding article bind themselves to nuruber of the the peerage, we have a Coronation and 30 per cent, has been pain Belgian Government, which will make arrange" | of such infringements,
ures the measures notossary for the
the preventionably
The Times of Malaya predicts a boom in tin incorrect if we said souvening the conference within six. Dover a claim should the e ceremony not take placements for
The high contrasting parties will communi. that the Coronation expenditure of the peerage abarrs owing to the excellent condition of the before the end of the year. In one or two onses States which here not signed this convention cate to one another as soon as possible the laws will amount to not much less than £1,000,000. metal market and the high prices which will be
which have already bees oF Y or regulations
The plans of the peerage will be followed to maintained during 1911 and probably longer. policies have been taken out on the lives of the
Ambassadors and adhesion shall be notified through the diplomatie
Ministers resident in Tate of galens per cent, while a "Royal ebanuel to the Belgian Government, and by the giving effect to the above provision Family risk has been accepted insuring the
the Court of St. James's, who have made ar is a good demand for ready and forward dali- lives of the King and Queen and their children latter to each of the other Governments; it
rangements to entertain the distinguished re-
There are still a few flaws in our extremely sannd Company Law, but it certainly leaves no room for the gimersok finnes adremted by your correspondent.-I am, etc.,
Shanghai, May 19.
REOTE NUMERABE.
"FANCY". RISKS AT LLOYD'S.--
B
when all
versala concerned in the
any
Article 12 The provision of this convention shall be applied as regards all persons interested notion belong to States of the high con tracting parties. and in any other case for which the national laws provide,
Provided always that
2.
SPIRIT OF HOSPITALITY. But the charge upon
MICHELANEOUS.-Dairy Farms are wanted
ELGIN
QUALITY
MOVEMENTS
Chas. J. Gaupp
& Co.,
ALEXANDRA BUILDINGS.
Imperial Exobequer at 320, Green Jeland Cements at $3,20, Ropes at WHY GO TO
Powells at $3.10 and Steam Fisheries at 874. $163, Union Water Honte at 863. Watrons st sicks have sol and have further sallers at
or
851
#ondon Asiatics
N.
[256
LAZARUS
FOR YOUR GLASSES?
67/6
... 10/6
219
BECAUSE
82/6
301-
42/3
18/
45
28/9
2/9 prem. 12/6 prem 57/.
A BOOM IN TIN,
of the duty on sugar being abolished was 20 parties shall have the right, three years after found at sea in danger of being liability by visitors, and treats to tenantry and others, Rabber Trusta
To
months
we should not
prove
the
King and Queen until the end of the year at the are allowed to adhere to it on request. Suche hereafter promulgated in their States for some extent by thedon, and attached to The tin plate ludastry is flourishing, and there i
Article 13. This convention does not affect the provision of national laws or international
for the same period, the premium in this install become effective one ioenth after the sends treaties as regards the organation of services presentatives of their own countries. Likewise verías, Much interest is being shown at Homo
atanos being 10 gulness per cent.
ing of the notification by the Belgium Guvern
ment,
of assistance and salvage by or under the
we may be sure that Colovial Premiers and in Malaymu tin shares.
You will receive Fair Treat
ment.
A Careful and Intelligent
Ersmination
We have a Sound Option. Reason behind every Lens
N. LAZARUS,
OPTHALMIC OPTICIAN, CORNER
D'Aouan-84., HONGKONG.
EX
Ang
[262
NOTICE TO KOWLOON RESIDENTS XTRA COPIES of Daily Press are on
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loon Store, No. 36, Haiphong Road, W
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