Page
TELEGRAMS.
["DILY PRESS" EXCLUSIVE BERVICA.) INTERPORT FOOTBALL.""
SHANGHAI, February 8th.
Hongkong to-day played the Pick of the League and won by three goals to nil.
RANDOM REKLECTIONS.
Those who thought that China Now Your
to
at disappear at the deeree of Peking must opge
was
THE NEW TERRITORIES TIN
ENTERPRISE.
STATEMENTS PRO AND CON. On Saturday we promised the public now acknowledge that they were mistion to-day of a few comments upon the taken. So far as Hongkong vas con- cerned the old festival was celebrated with even more enthusiasm than in previous
Early in the game Pearson scored, and years, and the same seeme to be true of because if the enterprise is as sound se
later added a second goal from a penalty kick, In the second half Pearson com-
pleted the hat trick, The visitors were much better than their opponents. The ground was very muddy.
(THROUGH, REUTER'3 AGENCY.} MORE SUFFRAGETTE OUTRAGES.
LONDON, February 9th. On Saturday night two orchid houses in Kew Gardens were broken into, the glass
large sum.
BRITISH TRADE RETURNS.
Topox, February 8th.
must places in the Republic itself. The efforts of the Peking Government to sup press the observance of the old style New
Year seems to have had a contrary result to that in view, and though the change of calendar will no doubt be generally adopted in time, some regard should be
Prospectus of the New Territories (Hong- kong) Tin Dredging Company, Limited - subject of great public interest, the prospectus represents, and if tin in present to the same extent in the adjoining land, the Colony would be in the way of gaining a very important asset, as the royalty of 5 per cent, on the output would add substantially to the Government.
INTIMATIONE
FATIGUE,
EXPOSURE.
6-The working capital ($70,000) is we understand, are already in progrese considered to be ridiculously inadequate. for an option over the whole of the re- 7-Supposing the price of tin fell maining portion of the Concession, on again to say, £150. a ton, or less, what account of a powerful syndicate, and it OVERWORK, would be the position of the company is probable that the option will be given. then 7
The reference to an “adjoining track ** The above represent the main arguments which can be obtained for. $50,000 is not understood by the promotera: There is no adjoining tract; for they have the against the venture.
mining rights over the entire valley which is surrounded by high hills. If tin present in the soil to the extent indicated in the prospectus, it must be admitted
pay for it. It has further to bo stated half a million dollars is a small price to
been won by crude methods of working. that the results already obtained have and it is anticipated that when a con- will be found to be larger.
FOR THE VENTURE. Now for the replica to the argu- the venture, and in monts against setting them forth we should explain that they are not the statements of a single individual, but the substance of what wo have gathered by inquiry from various
Sources,
had to the wishes of the masses, who, revenues and spare the community from qualifications of Mr. Lanzius is that he contrating table is in use the yield of tin
though perhaps not opposed to the change of calendar, evidently wish to enjoy their time-honoured festival.
were
A few weeks ago I referred to the fact Smashed, and precious plants strewn that the Old Style Christmas and New absorved fairly generally overywhere. It is supposed to be the Year work of suffragettes. The curator cannot throughout the eastern part of Europe, estomate the 1038, but it represents a very | Rut I mentioned that in some of the outlying parts of Scotland the Twelfth of January is still observed as Old New Year's Day. In recent papers I noticed that the people in some of the Herbridean The imports during the month of Janu. Islands rather than divide the community ary show an increase of £4,278,541 and the over the Now Style and the Old Style New The Year's Day celebrate both. Surely, this exports an increase of £5,028,827. chief increase in the imports was in cot-my be taken as an indication of what
showed
of will happen with the Chinese 7 They will ton, which
But which £1.746.837. Cotton goods to the value of undoubtedly celebrate both. £1,335,420 and coal valued at £900,000 re they will celebrate the more is perhaps presented the chief increases under ex- *ports.
an advance
·INTERNÁTIONAL RUGBY..
LONDON, February 9th. In the international rugby match England beat Ireland by 15 points to
played at Dublin on Saturday" afternoon
four.
COMPANY MEETING.
HUMPHREYS ESTATE AND FINANCE CO.
The annual meeting of the shareholders in the above Company was held on Satur- day. in the Hongkong Hotel. Mr. H. Humphreys presided, and there were also present:Dr. J. W. Noble and Mr. J. W. C. Bonnar (directors), Enos. Seth (secretary), J. A. Tarrant, J. M. E. Machado, E. T., Bunje, W: Rutter, D. E. Clark, C. B. Buyers and J. M. Hay.
difficult to anticipate.
Fear."
The celebrations which took place in Germany during the past week in connec- tion with the centenary of the War of Liberation recall that 1813 is remembered sons of the Fatherland as the "iron The order of the Iron Crose was instituted then, and great sacrifices were demanded of the people. One of the most interesting was that every married man, who in Germany wear a marriage ring, had to give up his gold ring, receiving in exchange an iron ring. Happily, no such sacrifices are demanded nowadays, and though war is ever imminent the victories of peace are becoming more attractive.
British politics must possess an interest for many in the Colony, and perhaps they will appreciate the pun which has been The CHAIRMAN said-Geatleinen, I pro- sent me by a correspondent. He refers to pose with your permission to take the the Welsh Disestablishment Bill and report and statement of accounts and the auditors' report as read. The net profit declares that "Mr. Lloyd George makes for 1012 is greater than any year since the Welsh Church-ill”. 1907 and shows an increase over 1911 of offers $30,942.47. Rent account shows an Winston. increase of $17,725.82, and this increase is
The itemg
no
the nightmare of increased taxation. Therefore, a sound enterprise of this character is one to be welcomed with
over
At the
No
The Food Question
6-As to the working capital, the direc tors aro satisfied that $70,000 is adequate provision. Many people are judging this proposition by Trunch figures. Tronoh Mines, it is said, some ten thou sand coolies are employed, and the yield of tin per cubic yard is said to average lbs, as compared with 13 lbs. estimated by the New Territories Company, All disappear or arc alleviated comparison is possible, however, between by the gentle stimulus of a glass of the two enterprises. One is a mining pro- position, the other is simple dredging, and PEMRTIN'S CLUB SHERRY. the estimate of 83,000 per month for the The delicious aroma, together with dredge and management at the mines is
its inviting comfort, drives away regarded as liberal.
weariness and cheers on to further
efforts.
1-The reply to the query as to the has been a mining engineer all his life; that he was engaged in that capacity for a number of years by Sir Paul Chater enthusiasm. Is the tin dredging project investigating mining possibilitios in the to which the public are now invited to New Territory and elsewhere; and a subscribe the sound proposition that the mining expert who is good enough for promoter's expert adviser represents it
Sir Paul Chater is considered good That in the question which to be?
pany. Mr. Lanzius, we are informed, interests the investing public; and it hasnough for the promoters of the new Com- frankdy to be stated that many of the discovered tin in the district some years Colony's leading men absolutely distrist ago, and advised Bir Paul Chater accord the prospectus and would not risk aingly. As, however, the tin was not in dollar in the venture. Old residents lodes, but was essentially a dredging recall a long list of mining enterprises proposition," it did not commend itself elsewhere in which Hongkong has lost a to Sir Paul Chator's judgment. Any large amount of capital on the strength mining engineer, it is contended, is com- prospectuses equally alluring. petent to say whether there are tin of Jelebus, Imuras, Olivers, Caledonians, deposits in a given area, and whether Punjoms-these and others readily occur the concentrates are to be found in
one small patch or all
the to the mind, including a silver and a lead mine within the boundary of the Colony.
area. Mr. Lanzius reports that be We are not competent to say whether the has made numerous diggings all over arer, with satisfactory results, New Territory enterpriss is one of this the ilk or a Bonanza; but the past experience The analysis of the tin concentrates "so ventures far recovered” has been reported upon as of the Colony in mining emphasises the need of great caution, and giving a percentage of 69 per cert. of we propose to lay before our readers very metallic tin. Employing sixty men, Mr. frankly the two opposing views on the new Lanzius says he has succeeded in recover. project, and with both sides of the quesing 200 pounds of tin concentrates" per tion before them they will be in a botter day; and though he says that he had got position to decide as to whether they will places carrying up to eight pounds of To the above we need only add. refer- subscribe to the capital of the Company or concentrates to the cubic yard of gravel,ence to the stringency of the new Con and that from 60 cubic yards he has
pany Ordinance which makes directors of leave it saverely alone.
AGAINST THE VENTURE.
recovered 300 pounds of tin of 69 per cent. companies liable to pay compensation to 1.The first point on which the venture (ie, an average of 5lbs. to the subie all persons who subscribe for any shares is condemned is that the prospectus has yard), the financial statement in the on the faith of a prospectas for the loss been issued upon the unsupported tosti-prospectus is based upon an average of mony of Mr. George Lanzius, mining only 1lbs to the square yard, and yet the investing public gives a profit of 30 per cent, on the total engineer, and
anks the question:-What nominal capital. naturally qualifications does Mr. Lanzius posses that the public should be asked to accept
the statements in the prospectus upon his unsupported authority? Does he enjoy a
7-The directors are satisfied that even if the price of tin fell from £925 a ton to £100-a very unlikely event-that the Company would still be able to pay its way Mr. L 6. Chiozza Money, M.P.. on page 21 of his recently published book "Things that matter" remarks :-- Unless Science vigorously comes to the aid of industry the "trend of metal
SOLE AGENTS:
H. RUTTONJEE
& SON,
131
prices must be upward. Tin, for example, Wine and Spirit Merchants. is now worth about £200 a ton, and is, well on the way to becoming a precious -metal. There may be an iron lamine within thirty years."
Chs. J. Gaupp
& Co.,
ÁLEXANDRA BUILDINGE,
CHATER ROAD..
or damage they may have sustained by reason of any untrue statement therein,
or in any report or memorandum ap pearing on the face thereof," if it is proved that the director, promoter or per-
no reasonable ground to son who authorised the issue of the pro- CHRONOMETER-MAKERS, pectus had believe that the person making the state-
I suppose he reputation in the mining world, and even Lanzius, would greatly strengthen their ment, report or valuation, was competent-
apologies to the youthful
by $1,638.35. This amount represents change this year.
$2,500.35 fire risks underwritten by our selves loss 8030 paid by us to reinstate
in the Colony where he has resided off and on for a number of years, that warrants the public in placing implicit trust in his unsupported reports? (The reply to this and all other questions is given in the section of this article in which we give the views of the supporters of the Company,):
2.-If the promoters were so confident
to make it. The Company is incorporated under this now Ordinance, and that fact is in itself an assurance that the men who are launching the venture have a firm faith that in the words of their ex pert adviser the property is a valuable
one,"
2-The promoters are ready to admit that a report from another mining engineer, if it confirmed that of. Mr. position, but they have seen no reason for doubting the facta as to the presence of alluvial deposits of tin all through the ground of the concession. This has hron tested by people interested, and we are informed that the analyses have been made, not from marefully selected sarn ples, but upon the heap, so to speak. As, however, many persons have repra-'
TRAINING NOTES. -
The atmospheric conditions were pur- having a further investigation made by an expert from the Straits Settlements, they have made arrangements according-fect on Saturday morning and the course. ly, and the Company will not proceed to, was fast, as is evidenced by the capital
It is expected that the griffins. been received. expert will arrive in about ten-days' time.
3-It is no valid argument against the
venture
worthless.
Jambolini's Anish raised him much, in ¦ popular estimation.
Sweet Sultan's fine gallop over 12 milo
WATCHMAKERS,
JEWELLERS AND OPTICIANS
FINE
DIAMOND.
JEWELLERY
A SPECIALITY.
ENGLISH, AMERICAN AND SW188 GOLD AND SILVER WATCHES.
GOLD AND SILVER BRACELET WATCHES.
JEWELLERY.
to say that because Chinese lends one to expect that he will be chosen MAPPIN & WEBB'S
as Mr. Burkill's mount to race for Derby
Mr. David's Sir Bedivere also shared er llent form, and John Peel's Ben Veia II. attracted, attention after his fast gallop of 14 miles, last mile 2.15, the second best record of the morning.
DERBY GRIFFINS.
*ILVERWARE,
CUTLERY and
PRINCES FLATE.
not only likely to stay but should advance! i the Daily Pres suggested that it
SDW considerably during 1913. "proft on sale of properties" and "com was not at all unlikely that Mr. E mission" may be classed as non-recurrent, Osborne, who has retired to live, in not that they are necessarily so, but because there is no certainty of making England, may some day find a place in profits under these headings in any one Parliament. He followed Mr. Gershom year. Turning to the other side of the Stewart in the Legislative Council, and I profit and loss account you will see that should not be surprised if he followed him that the venture is a sound one, why,sented to the directors the advisability of repairs are up 4.092.12. Advantage was taken of a fairly good year to thoroughly to Westminster. By the way, his depar-before floating the Company, did they not repair all our Chinese houses. The con ture leaves a vacancy on the Legislative go to the comparatively small cost of tract for this alone amounted to $10,000, Council, and, with the absence of the Hon. getting from the great tin-mining centre of which about 83,000 will fall on 1913. Mr. Pollock the personnel of the unofficial of the Straits Settlements an experienced account, Interest is also up $1,013.08. Insurance reserve fund has been increased representation will show a very marked tin-mining expert to go over the ground aliokment until this expert's report has performances of the most fancied Derby ENGLISH MOUNTED CHINESE JADE
with his own analyst F If that had been done and their reports had confirmed the As the Colony has been discussing tin opinion that there is good tin all over" No. 13, Kowloon City Road so under prospects in the New Territory it may
the one square mile which the new Com written which was partially destroyed by be of interest if I quote something on the pany proposes to acquire from Mr. Are on the 20th July last. Last year $6,000 was withdrawn from this fund subject of tin prospecting as it was con- Barretto, then the position of the pre-miners have not hitherto interested them.
moters in going to the public for capital selves in the project, that it is therefore honours for Sir Paul. with the approval of shareholders and ducted in Cornwall in the olden days transferred to the credit of profit and According to Carew's Survey, having dis-would be immensely strengthened. Mr.
4-The promoters have knowledge of lost secount. In referring to this trans- fer at the last annual meeting I said, "As covered shoad-the tin stone washed to Lanzius name figures in the Menio- rngards the withdrawal from reserve the smoothness by the wear and tear of water randuin of Association as one of the the report by an independent analyst who amount is so small that there will he no-which "either lieth open on the grass founders of the Company. Therefore, is stated to have found only 13 per cent. difficulty in replacing it this year if
or but shallowly covered, they conjecture greater confidence would have been folt of tin instead of 60 per cent, but they are things go on as they are going.' Your directors think the present a suitable by the sight of the ground which way in the reports of an experienced tin-min- quite satisfied with it provided it is ex- face tin, which has a large admixture of occasion to put back the money so with the flood came that brought it thither, and ing engineer having no other interest in plained that this was an analysis of sur- drawn and I trust you will sanction the
The deeper the shafts go, the transfer. I have now dealt with all the 30 give a guess at the place whence it was the concern than the ordinary remunerair
coarser are the grains, which on analysis items in the accounts which appear to me broken off. There they sink a shaft or pittion for investigating and reporting on
have shown fully 10 per cent. to require any explanation or comment, of five or six feet in length, two or three the proposal.
3. It is well-known that Chinese are but perhaps a few words as to future feet in breadth and seven or eight in prospects would be welcomed by share- holders. We have nearing completion 13 depth, to prove whether they may so meet largely interested in tin-mining in the first-class European fats, four detached, with the lode. By this shaft they also Straits Settlements. Tin is coming now to two semi-detached and a block of three discover which was the quick ground (as the Colony from Yunnan in large quanti Of the houses five and of the flats four are they call it) that moves with the flood, tics for export to Europe and America. We already let. If they all fill up, as I think and which the firm, wherein to shoad doth understand that about 12,000 toos came to part of his undertaking with the projected Sweet William, 14, 40, 1.17, 1.64.3, 2.31.4. |
from Yunnan last year. they will, they will be responsible for an lie. If they miss the lode in one place, Hongkong increased rent roll of about $2,250 pr they sink a like shaft in another beyond Consequently, the Chinese are keenly alive month. énbarking any further extensive that, coming further up towards the hill, to the fact that there is money in tin.
So many houses and so on third and fourth, until they It has been no secret among the Chinese syndicate, or Company, the vendor will gir Beaumaris, 11, last 1, 33.3, 1.08.2; THE EYE building operations.
But you may not that there is a certain amount of mineral have been erecte daring the past year and so many are still in course of con- conclude that every likelihood doth even wealth in the Now Territory: how is it struction that it would be well to pause until at least we can judge whether the prove a certainty; for divers have been that they have not worked this tin if it is visible
supply exceeds the demand. hindered through bestowing charges in there to the extent revealed in the pros- Before moving the adoption of the report seeking and not finding; many undone in pectus of the new Company! and accounts I shall be pleased to answer finding and not speeding, whilst a fair any questions.
show tempting them to much cost hath, in the end, failed in substance and made the adventurers bankrupt of their hope and
European residences with tennis courts.
are At the moment we
2:00
There being no questions, The CasinNAN proposed the adoption of the report and accounts.
Mr. MACHADO seconded, and the motion was agreed to.
The CHAIRSAN proposed the re-election of the retiring directors, Messrs. J. Scott Harston, J. W. C. Bonnar, W. L. Patten- den and Dr. J. W. Noble.
Capt. Hay seconded, and the motion was agreed to.
On the motion of Capt. BUNJE, seconded by Mr. BUYERS, Messrs. W. Hutton Potts and H. Percy Smith were reappointed auditors at i remuneration of $300.
The CHAIRMAN,That is all the business, gentlemen. I am rauch obliged to you for your attendence. Dividend warrants will be ready on Monday and can be bad on application at the Company's office.
light at last upon it.
parse,"
HODERICK RANDOM.
BOYCOTT ORDINANCE
SUSPENDED.
The operation of the Roycott Ordinance has been susponded from the 7th inst., and the proclamation declaring the Colony subject to the provisions of sections?
to 14 of the Peace Preservation Ordinance has been rescinded.
Sir Eedivers, 1}m., 40, 1.15, 1.48.1, 2.21.9
2.54; last quarter 32.5.
Fijian Chief, 14, last 3, 30.3, 1.11.4, 1.44;
·last quarter 32.1.
Bengairn, 13, 35, 1.10.1, 1.48, 2.20.3, 2.55; Bruno, 13, last 11, 38, 1.14.1, 1.81, 2.27.1.
last quarter 34.2.
5.-Regarding the objection to the price to be paid to the vendor, it is replied that the fact inust not be overlooked that Mr. Barretto has mining rights over a total area of five square miles, and that it is
Company that in the event of the re-
uining four square miles or any portion Jambolini, 1, 45.2, 1.20, 1.55.1, 2.30.2, thereof being disposed of to any person,
2.50.8; last quarter: 82.2.
3.06.0, 3.35.3; last quarter 32.
3.03, 3.35.9; last quarter 32.2.
last quarter 34.4.. Sweet Sultan, 13, last 1, 41.1, 1.20.8,
1.57. 2.30.3, 3.07.2, 3.39; last quarter
Sunlight, last 1, 36, 1.12.3, 1.40.3,
31.3
9.24.3, 2.17.1, last quarter 32.3.
Ben Wyvis, II., 14, last mile 2.15; last.
quarter 31.3.
deliver to this Company, for distribution amongst the then shareholders thereof, ore-third of the purchase price, whether in cash or in shares, which he may receive as a consideration for his disposal of such 4-The prospectus represents that the rights, or part of them. Now, it is argued concentrates contain 69 per cent of that by entering into this agreement Mr. tin. It is currently reported that Barretto is doing worse for himself than an independent analysis made in the if he had said: "I will take Duly interests of a prospective investor showed $200,000 instead of $500,000 for this con- cession, and reserve to myself the full only 12 or 13 per cent. of tiu.
Mr. M. §. Yung, a Cantonese civil 6.Many condemn the venture on the rights over the remaining four miles,”
engineer who was brought from the ground that the price it is proposed to. The effect of the arrangement is that pay to the vendor is preposterously out although Mr. Barretto, as being two. United States to superintend the recon- of proportion to the value which will be thirds of the pioneer Company, will struction of Hankow city on modern lines, received by the public who subscribe, te, received two-ninths interest in each mile has resigned finally from the position of Engineor-in-Chief of the construction of the Concession he disposes of and is Mr. Barretto is to receive shares of the
Mr. Yung value of two-thirds of the nominal capi thus transferring, money so to speak from work, says & Hankow paper. tal of the Company. We have heard it his left pocket to his right, the other has met with continual opposition since said that a similar tract of land of the shareholders are at the same time getting his arrival in Hankow and, seeing practi- same formation, adjoining this mining a free gift of one ninth interest in each cally no hope of achieving anything
of the several concessions. Negotiations, effectual, he decided to give up his post.
area, can be obtained for $50,000.
OUR
STUDE
OF
and its anatomy and our long experience in correcting defective vision enable us to tell beyond doubt if your eyes will be benefited by wearing glasses.
Our method of testing is soientific and accurate. If you do not need glasses w will tell you so. If you do need glasse we can supply and fit them at extremely moderate prices.
MAKE
CERTAIN.
WE WILL TELL YOU.
LARK & CO
SCIENTIFIC OPHICIANS PORE BLOGS, CHATER RO
HONGKONG